Antrim Successfully Tests Fyne Well at 4,000 BOPD

Fyne Field in North Sea
(Click to Enlarge)

Antrim Energy Inc. has successfully tested the latest Fyne well 21/28a-10z at rates up to 4,000 bopd. The well was drilled using the semisub Transocean Prospect in the western area of the Fyne Field on the Company's central North Sea Block 21/28a, where Antrim holds a 75% interest.

As previously reported, the company-operated 21/28a-10z well was drilled as a sidetrack to 21/28a-10. The near vertical sidetrack encountered 60 feet of net oil pay in the Eocene Tay Sandstone. An additional 45 feet of gas pay was drilled in the Upper Tay Sandstone and remains untested. No oil/water contacts or gas/oil contacts were observed in either well. The reservoir section in the oil column was subsequently gravel packed and screened for the production test. The high flow rates of medium gravity oil, no water and a normal gas oil ratio tested under production conditions, are indicative of the very high reservoir quality Tay Sandstones drilled in this area.

"This 4,000 bopd test underscores the potential of the Fyne Field and gives us the confidence to proceed with a
Field Development Plan for the area. The result also bodes well for expected production rates from Antrim's
21/28a-9y well, which penetrated 120 feet of measured depth net oil pay in the Tay Sandstone in the central part
of the field," said Stephen Greer, President and CEO. "The successful test will lead to additional work by
Antrim on other high interest discoveries and drilling prospects in the Fyne area."

To date, the 21/28a-10z well, was drilled ahead of schedule and under budget and will be retained as a future
production well.

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