Antrim Energy Inc. says that its Board of Directors has determined that the Intended Offer received from Sound Oil plc (Sound Oil) to acquire the entire issued share capital of Antrim for shares of Sound Oil is not in the best interests of Antrim shareholders.

After careful consideration, including a report and recommendation of a Special Committee of Independent Directors and in consultation with its financial and legal advisors, the Board of Directors has concluded that the Intended Offer does not meet the criteria established by the Company as critical to significantly enhance shareholder value, nor does it recognize the value of Antrim's assets and prospects.

Tags: Antrim Energy Inc., Sound Oil plc