Antrim to Complete Water Injection for Causeway Field (UK)

Antrim Energy, an exploration and production company with interests offshore in the UK North Sea, Ireland and Tanzania, today provided an operational update on its Causeway field operations.

Rig operations are currently underway to complete the water injector for the Causeway Field in licence P1383 Block 211/23d (Antrim 35.5% interest). The operations, on the previously drilled well (211/23d-18), are expected to be finished in February 2013. Startup of both the water injection and the electrical submersible pumps are scheduled for the second half of 2013, following the completion of topside modifications on the Taqa Bratani Limited (“TAQA”) operated North Cormorant Production Platform. Currently, the Causeway Field is producing approximately 4,500 bopd (Antrim net 1,600 bopd) under primary depletion.

Stephen Greer, Antrim President and CEO, commented:

“The pace of Antrim’s activity in the UK North Sea continues to grow. The completion of the water injector is an important step towards enhancing production rates and recovering the optimum reserves from the Causeway Field.

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February 1, 2013