NewsAntrim Energy Inc. (TSX:AEN)(AIM:AEY) ("Antrim") is pleased to announce the testing results from the Antrim-operated Central Causeway well 211/22a-6 (Antrim 65.5%) in the UK North Sea. As announced on June 19, 2007, the well was drilled directionally through the Middle Jurassic Brent Group of sandstones to a depth of 12,266 ft (3,739 m).
Two zones were tested in the well, the Ness Formation and the underlying Etive Formation. The Ness sandstones were perforated over a 62 ft interval and flowed at rates up to 4,300 bopd with no water.
The Etive sandstone was perforated over an 18 ft interval and flowed at rates up to 2,000 bopd with no trace of water. The oil recovered from both tests is light crude, 32 and 36 degrees API from the Ness and Etive respectively with a low gas oil ratio.
Electric log and test data indicates that the 22a-6 well has intersected a gross oil column of 233 ft. A net pay thickness of 105 ft in very permeable sandstones with average porosity of 19% is estimated from the electric log data.
The tests confirm a substantial oil column extending downward into the Etive Formation in the previously undrilled Central Causeway fault compartment. The Etive Formation was not penetrated in Antrim's East Causeway discovery. Oil has now been established in each of the four main fault compartments on the Causeway trend. Wells drilled in the two East Causeway compartments flowed at rates of 14,500 bopd and 8,000 bopd. The undeveloped and subsequently abandoned 22a-3 well drilled in the Southwestern compartment flowed 5,500 bopd, and with the test announced today a single well drilled in the Central compartment has flowed at a combined rate of 6,300 bopd.
The second well in Antrim's three-well Causeway program, which will also target the Brent sandstone sequence in the Central Causeway compartment, is expected to start drilling later this week and will take approximately 35 days to drill.
About Antrim
Antrim Energy Inc. is an international oil and gas exploration and production company headquartered in Calgary, Alberta, Canada. Antrim's objective is to create significant wealth for its shareholders through the discovery, production and sale of oil and gas. Antrim's production and exploration operations are centered in Argentina and its high impact oil and gas exploration is focused in the United Kingdom. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange's Alternative Investment Market (AEY). Visit www.antrimenergy.com for more information.
Forward-Looking Statements
Certain statements contained in this news release may be considered as "forward looking". Such "forward looking" statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. In accordance with AIM guidelines, Mr. Kerry Fulton, P. Eng and Chief Operating Officer of Antrim, is the qualified person that has reviewed the technical information contained in this news release.