Antrim Secures Rig for Fyne Drilling Program in UK North Sea

Antrim Energy has signed a rig contract for the Antrim-operated (with 75% interest) Fyne drilling program in the UK Central North Sea Block 21/28a.

The program, which will include one pilot hole and at least two side tracks, will be managed by AGR Peak Well Management. AGR also managed the successful multi-well drilling program on the Antrim-operated Causeway property in the UK Northern North Sea.

The Fyne drilling program is expected to start early in the first quarter 2008 and will initially target the Eocene Middle Tay Sandstone which previously tested rates up to 3600 bopd of medium gravity (25 degrees API) oil from the Fyne discovery well (21/28a-2) drilled in 1986. Antrim recently completed a 3-D seismic program over the area and intends to appraise this previous discovery by drilling a series of wells into the Tay Sandstone and flow testing at least one of the penetrations.

Antrim anticipates Transocean's semisub, Sedco 704, which drilled the recent Causeway program will be released from the 211/21a-9 well shortly. Additionally, in the same area, the non-operated Kerloch well (211/22a NW, Antrim 21%) is scheduled to begin drilling in mid-November, 2007 with results expected in mid-December 2007 by the same rig.

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