Antrim Energy Inc. ATGYF

RE: Re AEN's P/R Giribon

[Bigbadoil]

IN Alberta a SUSPENDED well used refers to a shut-in cased hole with surface equipment. This designation usually applies to gas wells waiting to be connected to pipe.. (which can take a few months!)The EUB (or any jurisdiction for that matter) would not like lots of drilled open-holes(with live h/c's downhole) lying around the Alberta countryside... This could be some sort of classification/terminology scenario particular to the DTI. As a "plug" has been run, maybe they have to call it abandoned. The plug can be removed later of course. Another point is that as they are not planning to produce this well immediately (they do not have approval from the dTI and therefore in the DTI's mind it is an appraisal well!!) Hence they must "abandon" the first hole to isolate the 2nd (deviated) well bore. They need to determine reservoir charactersitics on the untested fault block (if any oil is there of course). They already know these from the old 8000 BOPD well. Testing is required for the planning of production from both boreholes. If they have 20+5 mmbbl rec. reserves from both fault blocks and can produce into 1 well. Then, IMHO they could have an economic project from this well alone. They better plan for production for that 'cause they gonna have a problem getting a rig to drill the West Causeway in 2007. Bigbadun'