Antrim Energy Closes Financing

Antrim Energy has closed its previously announced "bought deal" financing. Antrim has sold to a sydicate of underwriters 8,300,000 common shares at a price of C$6.05 per common share for gross proceeds of C$50,215,000. The syndicate was led by Wellington West Capital Markets and included Tristone Capital and Cormark Securities. Antrim also announces that an over-allotment option granted to the Underwriters to purchase an additional 1,245,000 common shares at a price of C$6.05 per share has been exercised in full.

Total gross proceeds from the financing, including proceeds from the over-allotment option, were C$57,747,250. Antrim has made an application to the London Stock Exchange for 9,545,000 new shares to be admitted to trading on AIM and admission is expected to take place on Friday, November 16, 2007. After giving effect to the financing, Antrim has 117,506,566 common shares issued and outstanding.