Antrim Energy Wins Block 21/24b In UK 25th Seaward Licensing Round

Published: 03-Jul-2009

By: Staff Writer Staff Writer Staff Writer

Antrim Energy Inc. (Antrim Energy), an oil and gas company, has been offered block 21/24b in the UK North Sea by the UK Department of Energy and Climate Change (DECC) as part of the 25th Seaward licensing round. The block is awarded to the company on a 100% working interest basis. It is located in the company's main region around the Fyne field in the Central North Sea. In November 2008, Antrim Energy has won five blocks in the 25th round, three of which are in the Fyne region.

Block 21/24b is about 10 kilometers northeast of the Fyne field, and immediately adjacent to the Teal and South Teal fields to the east, the Clapham and Guillemot Northwest fields to the south and the Pict field to the west. These fields all produce from either the Eocene Tay or the upper Jurassic Fulmar sandstones and block 21/24b is viewed to have potential in both of these formations. A significant oil column in the Fulmar was discovered in this block by a previous operator. This discovery well 21/24-4 was drilled in 1991, but not tested.

Block 21/24b will add about 36,000 acres to Antrim Energy's asset portfolio in the area. The license will be a traditional license, with seismic processing to be completed and a contingent well to be drilled during the initial four-year term.

Stephen Greer, Antrim Energy's president and chief executive officer, commented, With its close proximity to existing fields and infrastructure, and potential in two proven producing formations, Block 21/24b is an exciting addition to Antrim's Central North Sea holdings.

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