Antrim Energy Inc. ATGYF

RE: What is this?

[Bigbadoil]

Selling Argentina isnt going to speed up development of Causeway!!!!!!! There are timelines (getting approvals and equipment, for example!)Plus weather windows and finding a pipeliner.These are all issues out of the control of Antrim. I think the stock is suffering because there has been a pushback in the timeline for Causeway development, From 2008 to 2009. Hence the stock is getting killed, the market doesnt like "dead money" . The "Argentina factor" hasnt helped at all. The Argie CF is good and there will be increases there next year (look at the new corporate presentation, I see lots of opportunity). They have $275mm Capex budgeted for 2008. They have $120mm from working capital and cf. They will be financing Causeway and Fyne and Dandy to get them to production. Expect a financing for approx $150mm mid year after Govt approval of Causeway development, I would also like to point out that one of the partners in Causeway has interests in the Thistle facilites (one of the export options for Causeway oil). That platform has been shut down recently because of a fire and has environmental concerns. Could this be another reason for the SP fall? There is still the Dunedin facilities to be considered. There are reservoir concerns with the central Causeway block after the recent drilling causing one broker to downgrade the stock. I think this will be resolved after more wells are drilled next year. I think AEN are going as fast as they can regarding development. As operator of the rig this year, they had to post a bond in US dollars which is kept in trust. As the US dollar fell, and they spend in Canadian (Ultimately GBP), they had more cash to spend and hence they fast tracked another well this year. Financially this shows up as a foreign currency loss (see third qtr results). However this a paper loss and they were able to spend more capital and drill another well. Remember, they are in the Oil and gas business and not the Foreign exchange business!!!!! Bigbadun'