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Antrim Energy (AEY)

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Tuesday 25 February, 2014

Antrim Energy

Antrim Updates Fyne Field Development



February 25, 2014

Antrim Updates Fyne Field Development

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(Marketwired - Feb. 25, 2014) -


Antrim Energy Inc. (TSX:AEN)(AIM:AEY) ("Antrim" or the "Company") -

Antrim Energy Inc., a Canada-based international exploration and production company, is pleased to announce
that the UK Department of Energy and Climate Change ("DECC") has agreed to amend the terms of UK Central North
Sea Licence P077 Block 21/28a (Antrim 100%) to allow for a Field Development Plan ("FDP") for the Fyne Field to
be submitted no later than 31 August 2014.

DECC's consent to this amendment includes conditions, amongst other things, that the FDP submission is in its
final form, the Environmental Statement is cleared, Antrim is approved as a Production Operator, there is
satisfactory evidence of project financing, and reasonable assurance that first production will be achieved
prior to 25th November 2016.

Antrim previously announced in July 2013 the cooperation on the Fyne Development and signing of a Joint
Development Agreement with Enegi Oil Plc ("Enegi") and Advanced Buoy Technology ("ABTechnology") to undertake
engineering studies and preparation of an FDP for the Fyne Field. The terms of the agreement include that there
will be no costs to the Company prior to FDP approval. During the second half of 2013 Enegi-ABTechnology worked
with contractors to engineer the production facility for Fyne. The environmental statement is now due to be
submitted during March. Engineering work will continue during the summer with FDP approval prior to 31st August
2014. Upon approval of the FDP by DECC, Enegi-ABTechnology will earn the right to acquire 50% working interest
in the licence. Antrim will remain operator.

Antrim's CEO Stephen Greer commented, "We are very pleased to have the continued support for DECC with the
challenges of developing relatively marginal, stranded oil fields, and the support for new technology to
achieve this in the North Sea."

Additional information concerning Antrim Energy Inc. is available at Investor inquiries
may be directed to [email protected] or 1-403-264-5111.

Forward-Looking and Cautionary Statements

This press release and any documents incorporated by reference herein contain certain forward-looking
statements, including statements regarding Antrim's future business plans, which are based on Antrim's internal
reasonable expectations, estimates, projections, assumptions and beliefs as at the date of such statements.
Forward-looking statements often, but not always, are identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "expect", "targeting", "forecast", "achieve", "scheduled" and
"intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be
achieved and other similar expressions. These statements are not guarantees of future events or performance and
involve known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or
events to differ materially from those anticipated in such forward-looking statements and information. Antrim
believes that the expectations reflected in those forward-looking statements and information are reasonable but
no assurance can be given that these expectations will prove to be correct and such forward-looking statements
and information included in this press release and any documents incorporated by reference herein should not be
unduly relied upon. Such forward-looking statements and information speak only as of the date of this press
release or the particular document incorporated by reference herein and Antrim does not undertake any
obligation to publicly update or revise any forward-looking statements or information, except as required by
applicable laws.

In accordance with AIM guidelines, Mr. Terry Lederhouse, P. Eng. and VP - Commercial of Antrim, is the
qualified person that has reviewed the technical information contained in this news release. Mr. Lederhouse has
over 38 years of experience in the upstream oil and gas industry.


Antrim Energy Inc.
Stephen Greer
President & CEO
+ 1 403 264-5111
[email protected]


Antrim Resources (N.I.) Limited
Murray Chancellor
Managing Director (UK)
+44 (0) 1483-307 530
[email protected]


RFC Ambrian Limited
Sarah Wharry
+44 (0) 20 3440 6800


Tim Thompson/Tom Hufton
+44 (0) 20 7466 5000
[email protected]

Antrim Energy Inc.

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