San Diego, CA 7/8/2009 10:22:41 PM
Antrim Energy's Fyne Field Green Light
What Now For Antrim Energy Inc. (TSE:AEN) Now That Block 21/24b Has Been Awarded by the UK Department of Energy and Climate Change
Antrim Energy Inc. significantly boosted its portfolio of oil-producing properties recently when the United Kingdom allocated a major portion of a North Sea oil field as part of the 25th Seaward Licensing Round.
As a result of winning a 100% interest in Block 21/24b (in the Fyne Field area, which is in the Central North Sea) in addition to generally rising oil prices stemming from a global stimulus plan, Antrim Energy shares (TSE:AEN) have been suggested as part of a commodity 'reinflation' stock portfolio.
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About Antrim Energy Inc.
Antrim Energy Inc. (TSE:AEN) is a Calgary-based oil and natural gas company. Through subsidiaries, the Company conducts exploration, development and production activities in Argentina and exploration activities in the United Kingdom. Antrim has a 21% working interest in the Kerloch discovery, which lies to the northwest of the Causeway trend. Net production to Antrim during the year ended December 31, 2008, was 1,411 barrels of oil per day (boepd) in 2008. In Argentina, Antrim drilled 17 wells in 2008, resulting in five (1.29 net) oil wells, five (1.29 net) gas wells, five (2 net) wells waiting on completion and two (0.52 net) wells were plugged and abandoned. Antrim completed its 2008 drilling program in the UK North Sea successfully drilling the final well before first production on the Causeway property, and drilling two future production wells on the Fyne property.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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Source: Small Cap Network
http://community.smallcapnetwork.com/Small-Cap-Commodities-Ready-to-Reinflate/s/article/view/p/mid/1/id/132/
