Antrim Energy Signs Rig and Services Contract for North Sea Drilling Program

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

Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim"), an international oil and gas
exploration and production company, is pleased to announce it has signed a
"Letter of Award" with AGR Peak Well Management Limited ("AGR") to provide well
project management and drilling services, including the provision of the
semi-submersible drilling rig, WilPhoenix, for the drilling of two wells within
the Greater Fyne Area, in the UK Central North Sea. The estimated duration for
the drilling of the two wells is 50 days, not including testing. A site survey
of both locations will be initiated in the next three weeks. Both wells are
scheduled to be drilled mid year 2011.


The first well will target the Jurassic Fulmar Formation at approximately 10,400
ft true vertical depth (TVD) on the West Teal Prospect, Block 21/24b (Antrim
100%). The West Teal Prospect has a light oil target (37 degrees API) delineated
by 3-D seismic and a previous discovery well drilled in 1991. The original
discovery well encountered a gross oil column up to 140 ft thick in the Fulmar
Formation but was abandoned after mechanical problems while conducting a cased
hole test. The West Teal Prospect is structurally up dip and approximately 4 km
west of the Teal Field, which has produced approximately 55 million barrels of
oil to date.


The second well is expected to target the Eocene Tay Formation at a depth of
approximately 6,000 ft on the Carra Prospect, Block 21/28b (Antrim 100%). The
Carra Prospect is a medium gravity target (25 degrees API) delineated by 3-D
seismic, on trend and 4 km from the West Guillemot Field. If successful, a
discovery on either of these prospects would add significant resources to the
scheduled development of the Fyne Field, located 3 km to the northwest of Carra.


Antrim intends to use the proceeds from its recent equity issue to fund the
drilling program but will also invite participation from industry partners.


About Antrim Energy Inc.

Antrim Energy Inc. is an international oil and gas exploration and production
company, headquartered in Calgary, Canada.


Antrim's strategy is to pursue a strategy of balancing longer term and
capital-intensive investments in the UK North Sea with shorter investment cycle
on-shore exploration and production opportunities. Antrim also considers other
global exploration opportunities as they arise.


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


Forward-Looking Statements 

Some of the statements in this announcement may be forward-looking including
statements regarding the timing of Antrim's drilling program in the Greater Fyne
Area. Forward-looking statements include statements regarding the intent, belief
and current expectations of Antrim Energy Inc. When used in this announcement,
the word "anticipate, expects, estimates" and similar expressions, and the
negatives thereof, whether used in connection with drilling activity, reserves
of neighboring properties or otherwise, 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. 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 Annual Information Form for the year ended December 31,
2009 and dated March 23, 2010 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. Kerry Fulton, P. Eng and Vice President
Operations of Antrim, is the qualified person that has reviewed the technical
information contained in this news release. Mr. Fulton has over 30 years
operating experience in the upstream oil and gas industry.
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