Antrim to Carry Out Additional Flow Testing on Los Patos 1002 Well

The primary target zone in the recently drilled and cased Los Patos 1002 well in Tierra del Fuego, Argentina has tested a flow rate of 12.4 MMcf/d with associated liquids from a single 4 meter thick net pay section. The initial flow rate had a flowing pressure of 1400 psi. Further testing is underway to establish stabilized flow rates over various pressures. However, the measured flow rate from Los Patos 1002 represents a substantial increase over the 1-2 MMcf/d average initial flow rates obtained from gas wells in the area.

Drilling operations have started on the second well, Los Flamencos 1001a, in Antrim's multi-well Tierra del Fuego drilling program. This well should reach total depth prior to year end. Antrim's working interest in the Tierra del Fuego licences is 25.8%.