Antrim: Oil Production Starts at UK Causeway Field

Antrim announced that production of oil has commenced from the Causeway Field in UKCS Block 211/23d (Antrim working interest 35.5%).

Commissioning of the Causeway field has now commenced with gross production rates of around 4,500 barrels of oil per day on a 53% choke. Initial production rates are currently being impacted by longer-than-anticipated clean-up and commissioning due to the long horizontal nature of the well. The installed electric submersible pumps are anticipated to contribute to production rates in the first half of 2013.

The next phase of work on Causeway and the Fionn oil field is anticipated to commence early in 2013 and to be completed by the middle of the year.

Stephen Greer, Antrim President and CEO, commented, “First oil at Causeway is a major milestone for Antrim, representing our first production from the UK North Sea. It is the culmination of significant effort and investment made by the Company in the area. Causeway is expected to contribute substantial cash flow to Antrim, as we continue to develop our existing assets and explore other opportunities in the UK and elsewhere.”

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Press Release, November 14, 2012