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Antrim Announces Development Approval of the Cormorant East Field in UK Northern North Sea
Published : November 21, 2012
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Keywords :   Europe | London | Market | Oil | United Kingdom | Water |

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(Marketwire - Nov. 21, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Antrim Energy Inc. (News - Market indicators) (AIM:AEY) ("Antrim" or the "Company")

Antrim today announced that a Field Development Plan ("FDP") has been approved for the Cormorant East Field in UK Northern North Sea Block 211/22a Contender Area (the "Contender Block", Antrim interest 8.4%).

As previously announced (October 22, 2012), Antrim and partners successfully drilled well 211/21-N94 (the "Contender Well") and penetrated a thick section of oil-bearing sandstones in the Tarbert Formation of the Jurassic Brent Group, with excellent porosity and oil saturation and no water zone encountered. The discovery has been re-named the "Cormorant East Field". A FDP for the Cormorant East Field has been approved by the UK Department of Energy and Climate Change ("DECC"). The FDP calls for the field to be initially produced under primary depletion, with the potential to install a water injection scheme at a later date.

Completion and tie-in of the Contender Well is underway, with first oil anticipated before the end of the year. Production will be processed at the North Cormorant platform operated by TAQA Bratani Limited ("TAQA") before being exported to the Sullom Voe terminal for sale. Other interests in the Contender Block are TAQA 60% (Operator), Dana Petroleum (E&P) Limited 20%, First Oil Expro Limited 7.6% and Bridge Energy Enterprises Limited 4%.  Under the terms of the farm-out agreement with TAQA, Antrim's working interest share of the drilling, completion and tie-in costs were funded by TAQA. Antrim's share of the completion and tie-in costs will be recovered by TAQA from production revenue.

Additional information concerning Antrim Energy Inc. is available at www.antrimenergy.com. Investor inquiries may be directed to info@antrimenergy.com or 1-403-264-5111.

Forward-Looking and Cautionary Statements

Some of the statements in this announcement may be forward-looking including statements relating to Antrim's business plans for developing the Cormorant East Field. Forward-looking statements include statements regarding the intent, belief and current expectations of Antrim Energy Inc. When used in this announcement, the words "anticipate", "potential" and similar expressions are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcome to differ materially from those suggested by any such statements, including without limitation, unanticipated delays with respect to development of the Cormorant East Field. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Antrim's control. Please refer to Antrim's Amended and Restated Annual Information Form for the year ended December 31, 2011 and dated March 26, 2012 and available for viewing at www.sedar.com, for a list of risk factors. Antrim's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Antrim will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Antrim or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.

In accordance with AIM guidelines, Mr. Terry Lederhouse, P. Eng. and VP - Commercial of Antrim, is the qualified person that has reviewed the technical information contained in this news release. Mr. Lederhouse has over 35 years of experience in the upstream oil and gas industry.



Antrim Energy Inc.
Stephen Greer
President & CEO
(403) 264-5111
(403) 264-5113 (FAX)
greer@antrimenergy.com
or
Antrim Resources (N.I.) Ltd.
Murray Chancellor
Managing Director (UK)
+44 (0) 1483-307 530
+44 (0) 1483-307 531 (FAX)
m.chancellor@antrimenergy.co.uk
or
RBC Europe Limited
Martin Eales
+44 (0) 20 7029 7881
Data and Statistics for these countries : United Kingdom | All
Gold and Silver Prices for these countries : United Kingdom | All

Antrim Energy Incorporated

PRODUCER
CODE : AEN.TO
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Antrim Energy is an exploration and oil company based in Canada.

Antrim Energy holds various exploration projects in U.k..

Its main asset in production is BLOCK 21/28A in U.k. and its main exploration property is CAUSEWAY in U.k..

Antrim Energy is listed in Canada, in United Kingdom and in United States of America. Its market capitalisation is CA$ 9.2 millions as of today (US$ 8.5 millions, € 6.2 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 8.73, and its lowest recent point on January 03, 2014 at CA$ 0.06.

Antrim Energy has 184 730 000 shares outstanding.

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Annual reports of Antrim Energy Incorporated
Annual Report 2007
Nominations of Antrim Energy Incorporated
2/13/2013- Chief Financial Officer Changes
6/28/2012Board of Director Resignation
Financials of Antrim Energy Incorporated
5/15/2012Announces 2012 First Quarter Financial and Operational Resul...
11/11/2011Announces 2011 Third Quarter Financial and Operational Resul...
5/25/2011Announces 2011 First Quarter Financial and Operational Resul...
Project news of Antrim Energy Incorporated
3/27/2013Reports 2012 Results and Reserves
3/30/2011Reports 2010 Results and Reserves
Corporate news of Antrim Energy Incorporated
10/25/2013(Causeway)Causeway and Cormorant East Fields Resume Production
10/18/2013Statement - Share Price Movement
9/10/2013(Causeway)Causeway and Cormorant East Update and Appointment of RFC Am...
9/10/2013(Causeway)Causeway and Cormorant East Update and Appointment of RFC Am...
7/15/2013Irish Licensing Option Upgraded to Frontier Exploration Lice...
7/10/2013Announces Sale of Tanzania Option
7/2/2013Fyne Field Development Update
6/18/2013Announces Results of Annual and Special Meeting
5/14/2013Kosmos Farm-in to Antrim's Irish Licences Approved
4/18/2013Farmout of Skellig Block in the Porcupine Basin, Offshore Ir...
2/1/2013UK North Sea Operations Update
1/23/2013Announces US$30 Million Payment Swap and Brent Oil Price Com...
1/14/2013Announces First Oil from the Cormorant East Field in UK Nort...
12/6/2012Provides Drilling and Operations Update, UK North Sea
11/12/2012(Causeway)Provides Operational Update of Causeway Field, UK North Sea
8/28/2012(Causeway)Announces Execution of Oil Sales Contract for Causeway Field
6/12/2012s Fyne Field and Other North Sea Activity
5/9/2012and Crown Point Ventures Ltd. Announce the Expiry of Rights ...
4/12/2012to Regain Working Interest, Reserves and Operatorship in Fyn...
3/26/2012and Crown Point Ventures Ltd. Announce Strategic Argentinean...
2/6/2012(Causeway)Provides Update of East Fyne Appraisal Well and Causeway Dev...
1/23/2012Announces Agreement to Develop Fionn Field, UK North Sea
1/16/2012Announces Spud of East Fyne Appraisal Well, UK North Sea
12/28/2011(Causeway)Announces Approval of Causeway Field Development Plan
12/22/2011Drills Successful Appraisal Sidetrack to the Erne Oil Discov...
11/30/2011Announces Oil Discovery at Erne, UK North Sea
10/18/2011Awarded Irish Offshore Option and Update on Fyne Drilling Sc...
8/25/2011Farms Out UK Kerloch ("Contender") Licence to TAQA Bratani
5/6/2011Rig Contracted to Drill East Fyne, UK North Sea
4/19/2011Commences Pre-Drilling Site Surveys in UK North Sea
2/24/2011Announces $45 Million Bought Deal Financing
5/14/2007Rig on Schedule for UK North Sea Causeway Multi-Well Drillin...
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