Antrim Energy Inc. ATGYF

RE: For Info only

[Bigbadoil]

The Magellan poster is very informative. The uppdip Troodus well was studied by CSIRO ( aussie research organisation) and they proved that oil migrated thru the structure but unfortunatley at the Troodus location the structure was breached ( fault to surface - you can see it on the seismic line!) The Antrim Galapogus structure is down to the basin and closed ( no breaching). we have a petroleum system here and Antrims lands are favourably located. In terms of geological probability though I would think reservoir risk is high here...The Troodus well is 60km away and had good sands in the Jurassic section but thatis no guarrentee they are present at Galapogus. Also maybe tops are coming in lower as calculating depths from seismic can be tricky in frontier areas... Maybe the sands are coming in lower than prog....and that explains no shows in the NR. Anyway we will have to wait till the end of the week (logging). Im still bullish on this one and I like the play. There is lots of speculators playing this one so its going a bumpy ride this week. Good luck everyone Bigbadun'