Antrim Energy Inc. declared preliminary results from drilling operations of Antrim-operated well 21/29d-11Z, a sidetrack of the Erne discovery well 21/29d-11 in the UK Central North Sea.

The 21/29d-11Z sidetrack well, designed to appraise a separate culmination from the Erne oil discovery in the Eocene Tay Formation, was drilled up-dip of the discovery location to a total measured well depth of 5,409 feet. The inclined sidetrack drilled approximately 24 true vertical feet of net oil pay and 14 TV feet of net gas pay in a high quality sandstone reservoir with porosity values measured in excess of 32% and corresponding high permeability. The Tay Sandstone was intersected at a structural elevation 106 TV feet higher than the original penetration in the discovery well 21/29d-11. Initial interpretation is that the 21/29d-11Z sidetrack has penetrated a separate accumulation from the original 21/29d- 11 well penetration, but further work is necessary to confirm this. Well 21/29d-11Z will now be suspended for potential future re-entry and use in the development of the Erne discovery.

As planned, no flow test will be performed on the sidetrack. Antrim successfully recovered Modular Formation Dynamics Test pressure data and samples from both the pilot hole and the sidetrack. The MDT results from the pilot well confirm the presence of oil similar to the oil produced from the nearby NW Guillemot Field, in a high quality sandstone reservoir. A complete analysis of the sidetrack MDT is not yet available, but is not expected to differ materially from the pilot hole data.

The successful Erne pilot and sidetrack wells have high-graded and de-risked other drilling prospects in the Upper Tay Formation near to Erne and along the same trend on Antrim-interest licences. With this information, Antrim will re-prioritize its drilling plans, fast tracking the Upper Tay drilling targets and delaying the Carra Lower Tay Formation drilling target previously scheduled for drilling before the year-end 2011. Antrim expects to follow up on the Erne success and resume drilling in the Greater Fyne Area in 2012. This does not affect plans for the Premier-operated East Fyne appraisal well in the Fyne Field, which is expected to begin drilling operations in late December. The successful Erne discovery and appraisal drilling results are expected to make a significant contribution to Antrim's future development plans in Fyne and the Greater Fyne Area.

Tags: Antrim Energy Inc.