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Antrim Energy (AEY)

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Friday 29 May, 2015

Antrim Energy

Interim Financial Report - First Quarter 2015



FOR:  ANTRIM ENERGY INC.

TSX VENTURE SYMBOL:  AEN
AIM SYMBOL:  AEY

May 29, 2015

Interim Financial Report - First Quarter 2015

CALGARY, ALBERTA--(Marketwired - May 29, 2015) - Antrim Energy Inc. (TSX VENTURE:AEN)(AIM:AEY) -

INTERIM FINANCIAL REPORT - FIRST QUARTER 2015

Highlights

--  Significant resource potential assigned to leads within the Skellig
    Licence (Antrim 25%), offshore Ireland
--  Prospect inventory prepared by Kosmos (operator of the Skellig Licence)
    in December 2014 includes several leads and highlights three prospects
    including two tilted, Jurassic fault blocks and a Cretaceous submarine
    fan
--  Strong working capital balance (US $14.2 million) at March 31, 2015
--  Continue to evaluate new opportunities for transformative upside
    potential

MANAGEMENT'S DISCUSSION AND ANALYSIS

This management's discussion and analysis ("MD&A") provides a detailed explanation of Antrim Energy Inc.'s (the
"Company" or "Antrim") operating results for the three months ended March 31, 2015 compared to the same period
ended March 31, 2014 and should be read in conjunction with the audited consolidated financial statements of
Antrim for the year ended December 31, 2014. This MD&A has been prepared using information available up to May
27, 2015. The interim consolidated financial statements of the Company have been prepared in accordance with
International Financial Reporting Standards ("IFRS"). Unless otherwise noted all amounts are reported in United
States ("US") dollars.

Non-IFRS Measures

Cash flow used in operations and cash flow used in operations per share do not have standard meanings under
IFRS and may not be comparable to those reported by other companies. Antrim utilizes cash flow from operations
to assess operational and financial performance, to allocate capital among alternative projects and to assess
the Company's capacity to fund future capital programs.

Cash flow used in operations is defined as cash flow used in operating activities before changes in working
capital. Cash flow used in operations per share is calculated as cash flow used in operations divided by the
weighted-average number of outstanding shares. Reconciliation of cash flow used in operations to its nearest
measure prescribed by IFRS is provided below.

                                                         Three Months Ended
                                                                   March 31
($000's)                                              2015             2014
----------------------------------------------------------------------------
Cash flow from (used in) operating
 activities                                            226             (764)
Less: change in non-cash working capital              (243)             415
----------------------------------------------------------------------------
Cash flow from (used in) operations                    469           (1,179)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Overview of Continuing Operations

Ireland

Frontier Exploration Licence 1-13, Antrim 25%

Antrim acquired a Licensing Option in the 2011 Atlantic Margin Licensing Round covering an area of 1,409 km2
(the "Skellig Block"). Antrim licensed, reprocessed and interpreted 2-D seismic data over the blocks and
identified a Cretaceous deep sea fan complex similar in seismic character to many of the recent Cretaceous oil
discoveries offshore West Africa.

In April 2013, the Company farmed out a 75% interest in, and operatorship of, the Licensing Option to Kosmos
Energy Ltd. ("Kosmos") in exchange for Kosmos carrying the full costs of a planned 3-D seismic program within
the licence area and re-imbursement to Antrim of a portion of the exploration costs incurred on the blocks to
date. Antrim retained a 25% interest. The transaction was approved by the Department of Communications, Energy
and Natural Resources of Ireland ("DCENR"). On July 15, 2013, DCENR approved the conversion of the Licensing
Option to a Frontier Exploration Licence ("FEL").

The 3-D seismic was acquired in 2013 and results from the 3-D seismic programme reinforced the interpretation
based on 2-D seismic and strongly indicated the presence of Lower Cretaceous slope fan and channel deposits
similar in geometry and seismic character to many of the recent Cretaceous oil discoveries offshore West
Africa.

On July 29, 2014 Antrim announced the results of an independent prospective resources report for the Skellig
Block. These prospective resources were evaluated by McDaniel & Associates Consultants Ltd. ("McDaniel") in
accordance with National Instrument 51-101 in a report dated effective June 30, 2014. Prospective resources
were assigned to 17 leads within the Skellig Block. See "Notes on Oil and Gas Disclosure" below.

The following table provides an aggregate summary of the Prospective Resources for the 17 independent leads
evaluated within the entire property:

Prospective Resources (1) (2) (3) (4) (5)           Property          Antrim
Table 1 - Total All Leads                             Risked          Risked
                                               Mean Estimate   Mean Estimate
----------------------------------------------------------------------------
Crude Oil (Mbbl)                                      59,396          14,849
Natural Gas (MMcf)                                   992,865         248,216
Condensate (Mbbl)                                     22,330           5,582
Cumulative Thousand Barrels of Oil
 Equivalent (Mboe)                                   247,203          61,800

The following table provides an aggregate risked mean estimate of the Prospective Resources for the two largest
independent leads ("C" and "M-3") which represent 46.5% of the total risked mean property boe of Prospective
Resources.

Prospective Resources (1) (2) (3) (4) (5)
Table 2 - Lead C and M-3                      Lead C and M-3          Antrim
                                                      Risked          Risked
                                               Mean Estimate   Mean Estimate
----------------------------------------------------------------------------
Crude Oil (Mbbl)                                      31,908           7,977
Natural Gas (MMcf)                                   439,970         109,993
Condensate (Mbbl)                                      9,661           2,415
Cumulative Thousand Barrels of Oil
 Equivalent (Mboe)                                   114,896          28,724

Notes:

1.  There is no certainty that any portion of the prospective resources will
    be discovered. If discovered, there is no certainty that it will be
    economically viable or technically feasible to produce any portion of
    the resources.
2.  The columns marked as "Risked" have been risked for chance of discovery,
    but have not been risked for chance of development. If a discovery is
    made, there is no certainty that it will be developed or, if it is
    developed, there is no certainty as to the timing of such development.
    The chance of discovery assigned to each of the 17 leads ranged from 8%
    to 25% and averaged 12.56%.
3.  The "Antrim Risked Mean Estimate" reflects Antrim's 25% working interest
    share of the gross prospective resource estimates shown in the "Property
    Risked Mean Estimate" column (Table 1); or the combined prospective
    resource estimates shown for the subsidiary "Lead C and M-3 Risked Mean
    Estimate" (Table 2).; All other columns in the above table reflect the
    gross 100% prospective resources of the Licence (of which Antrim's
    current working interest is 25%).
4.  Gas was converted to barrels of oil equivalent ("boe") at a ratio of 6
    Mcf to 1 bbl.
5.  The total risked mean is equal to the aggregate sum of the unrisked mean
    (arithmetic average) estimate for each lead multiplied by the chance of
    discovery for the lead.

The prospect inventory prepared by Kosmos in December 2014 includes several leads previously identified and
highlights three prospects including two tilted Jurassic fault blocks and a Cretaceous submarine fan. Two of
the three prospects were included as leads in the prospective resources evaluated by McDaniel. A second
Jurassic prospect identified by Kosmos has yet to be reviewed by McDaniel pending receipt of additional
information. Sophisticated additional detailed seismic analysis is planned for 2015 to mitigate drilling risk
among the top three identified prospects including trace inversion, AVO mapping and modeling, spectral
decomposition and attribute extraction.

FEL 1-13 has a 15 year term, with an initial three-year term followed by three four-year terms. At least three
months before the end of the initial term a work programme for the second term must be proposed. That programme
must include the drilling of an exploration well. At the end of the initial three-year term (July 4, 2016), 25%
of the acreage must be relinquished.

Fyne Licence

P077 Block 21/28a - Fyne, Antrim 100%

The Company is in discussion with DECC with respect to relinquishment and possible reapplication for the
licence. The carrying value of the Fyne Licence at March 31, 2015 is $nil (December 31, 2014 - $nil).

The Fyne Licence includes three suspended wells and the Erne Licence one suspended well. The estimated
decommissioning obligation for these wells at March 31, 2015 is based on a stand-alone abandonment program to
be completed in 2016. The Company is currently evaluating options to abandon these wells as part of a 2015 or
2016 multi-client, multi-well abandonment program which the Company believes could reduce the Company's net
share of abandonment costs from $4.7 million to $2.8 million.

Erne Licence

P1875 Block 21/29d - Erne, Antrim 50%

The Erne Licence started in January 2011 and is a Promote Licence with a drill-or-drop commitment. The Erne
wells drilled in late 2011 met all the commitments on the Licence. A discovery was made with the 21/29d-11 well
and also in the up-dip side-track 21/29d-11z well. These discoveries are not commercial on their own, but may
be economic to develop as tie-backs to an adjacent production facility if such a facility were available. The
initial four year term of the Licence expired in January 2015 prior to which 50% of the Licence area was
relinquished. The carrying value of the Erne Licence at March 31, 2015 is $nil (December 31, 2014 - $nil).

Financial Discussion of Continuing Operations

                                                         Three Months Ended
                                                                   March 31
($000's except per share amounts)                      2015            2014
----------------------------------------------------------------------------
Financial Results
--------------------------------------------
Cash flow used in operations (1)                        469          (1,179)
Cash flow used in operations per share (1)             0.00           (0.01)
Net income (loss) - continuing operations               461          (1,538)
Net income (loss) per share - basic,
 continuing operations                                 0.00           (0.01)
Net income (loss)                                       461          (8,461)
Net income (loss) per share - basic                    0.00           (0.05)
Total assets                                         15,784          91,865
Working capital                                      14,249          (5,072)
Capital expenditures - continuing
 operations                                              28             142

Common shares outstanding
--------------------------------------------
End of period                                       184,731         184,731
Weighted average - basic                            184,731         184,731
Weighted average - diluted                          184,731         184,731

1.  Cash flow from operations and cash flow from operations per share are
    Non-IFRS Measures. Refer to "Non-IFRS Measures" in Management's
    Discussion and Analysis.

General and Administrative

General and administrative ("G&A") costs decreased to $0.8 million in the first quarter of 2015 compared to
$1.2 million for the corresponding period in 2014. The decrease in G&A is primarily due to lower salary and
administrative expenses partially offset by additional severance costs in the first quarter of 2015 incurred as
part of the Company's ongoing efforts to reduce annual G&A.

A breakdown of G&A expense is as follows:

                                                         Three Months Ended
                                                                   March 31
($000's)                                               2015            2014
----------------------------------------------------------------------------
Wages and salaries                                      444             370
Occupancy                                                83              93
Administrative                                          250             824
Travel                                                    -               8
Overhead recovery                                         -             (58)
----------------------------------------------------------------------------
                                                        777           1,237
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Exploration & Evaluation Expenditures

Exploration and evaluation ("E&E") expenditures were $14 thousand in the first quarter of 2015 compared to $7
thousand for the corresponding period in 2014. E&E expenditures are primarily related to UK licence fees.

Finance Costs

Finance costs were $8 thousand in the first quarter of 2015 compared to $13 thousand for the corresponding
period in 2014. Finance costs are primarily related to accretion of asset retirement obligations.

Income Taxes

The Company follows the liability method of accounting for income taxes. As at March 31, 2015, no deferred
income tax assets were recorded due to uncertainty with respect to the ability of Antrim to generate sufficient
taxable income to utilize the unrecognized losses.

Cash Flow and Net Loss from Continuing Operations

In the first quarter of 2015 cash flow from operations was $0.5 million compared to cash flow used in
operations of $1.2 million for the corresponding period in 2014. Cash flow increased due to a $1.2 million
foreign exchange gain in the first quarter of 2015 as a result of a significant decline in the period in the
value of the Canadian dollar relative to the US dollar. Excluding foreign exchange gains and losses, cash flow
used in operations in the first quarter of 2015 was $0.8 million compared to $1.2 million for the corresponding
period in 2014.

In the first quarter of 2015, Antrim had net income from continuing operations of $0.5 million compared to a
net loss from continuing operations of $1.5 million for the corresponding period in 2014. Net income increased
due to foreign exchange gains and lower general and administrative costs.

Foreign Exchange and Other Comprehensive Income (Loss)

The reporting currency of the Company is the US dollar while the Company's operating costs and certain of the
Company's payments in order to maintain property interests are made in the local currency of the jurisdiction
where the applicable property is located. The Company's continuing activities in Canada, Ireland and United
Kingdom are accounted for using the Canadian dollar, Euro and British pound sterling as the functional
currency, respectively. As a result of these factors, fluctuations in these currencies relative to the US
dollar could result in unanticipated fluctuations in the Company's financial results. The Company incurred a
foreign exchange gain of $1.2 million in first quarter of 2015 compared to a loss of $0.1 million for the
corresponding period in 2014.

The Company reported other comprehensive loss of $1.2 million in first quarter of 2015, compared to other
comprehensive loss of $16 thousand for the corresponding period in 2014. Other comprehensive loss increased due
to foreign currency translation adjustments.

Financial Discussion of Discontinued Operations

Discontinued operations relate to the sale of Antrim's Causeway, Kerloch and Cormorant East assets structured
as the sale of all of the issued and outstanding shares in ARNIL. In the first quarter of 2014, Antrim had a
net loss from discontinued operations of $6.9 million. On April 24, 2014 the Company completed the sale of
ARNIL and settled its outstanding obligations under its Payment and Oil Swap agreements.

Financial Resources and Liquidity

Antrim had a working capital surplus at March 31, 2015 of $14.2 million compared to a working capital surplus
of $15.1 million as at December 31, 2014. Working capital decreased due to general and administrative expenses
incurred in the period.

Contractual Obligations, Commitments and Contingencies

Antrim has several commitments in respect of its petroleum and natural gas properties and operating leases,
including operating costs, as at March 31, 2015 as follows:

($000's)                           2015    2016    2017    2018   Thereafter
----------------------------------------------------------------------------
Office Leases                       266     354     328       3            -
Ireland                             362       -       -       -            -
United Kingdom
  Fyne                               10      10       -       -            -
  Erne                                -       -       -       -            -
----------------------------------------------------------------------------
Total                               638     364     328       3            -
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Outlook

The Company will continue to evaluate and de-risk the Irish Skellig Licence with a view to farming down or
otherwise reducing its interest before a well is drilled. Sophisticated additional detailed seismic analysis is
planned for the remainder of 2015 to mitigate drilling risk among the top three identified prospects including
trace inversion, AVO mapping and modeling, spectral decomposition and attribute extraction. When combined with
prior structural and stratigraphic mapping, these analyses should provide significant insight and guidance with
respect to any future drilling programme. In the context of low oil prices and inability to achieve first oil
from the Fyne Licence prior to November 2016, the Company anticipates little capital spending in 2015 in the
UKNS with the exception of well abandonment costs.

The Company intends to use its strong balance sheet and licence holding to acquire opportunities either asset
specific or corporate where an acquisition or a corporate combination would enhance shareholder value. The
Company has good access to international M&A opportunities and evaluated a number of opportunities in 2014 and
the first quarter of 2015. The Company plans to look for additional opportunities and assess those
opportunities based on, amongst other criteria, strategic fit, focus on near term appraisal / development, use
of funds, transformative potential with upside potential for Antrim shareholders and current or near term cash
flow.

The board of Antrim views the Company's strong financial position as a competitive advantage in the current
volatile oil price environment and the Company will continue to seek ways to reduce the Company's G&A costs to
further protect its financial position. G&A costs in 2015 are budgeted to be approximately 50% of G&A in 2014.

Summary of Quarterly Results

                                      Cash Flow                  Net Income
($000's, except per    Revenue, Net     Used in   Net Income     (Loss) Per
 share amounts)        of Royalties  Operations       (Loss)  Share - Basic
----------------------------------------------------------------------------
                           (Note 1)    (Note 1)
2015
First quarter                     -         469          461           0.00
                      ------------------------------------------------------
                                  -         469          461           0.00
                      ------------------------------------------------------
                      ------------------------------------------------------

2014
Fourth quarter                    -        (815)        (903)         (0.00)
Third quarter                     -        (109)        (528)         (0.00)
Second quarter                    -      (2,510)        (223)         (0.00)
First quarter                     -      (1,179)      (8,461)         (0.05)
                      ------------------------------------------------------
                                  -      (4,613)     (10,115)         (0.05)
                      ------------------------------------------------------
                      ------------------------------------------------------

2013
Fourth quarter                    -      (1,836)     (21,212)         (0.11)
Third quarter                     -        (388)     (16,067)         (0.09)
Second quarter                    -      (2,934)         930           0.01
First quarter                     -      (3,368)      (2,853)         (0.02)
                      ------------------------------------------------------
                      ------------------------------------------------------
                                  -      (8,526)     (39,202)         (0.21)
                      ------------------------------------------------------
                      ------------------------------------------------------
Note 1: Continuing operations only

Key factors relating to the comparison of net income for the first quarter of 2015 to previous quarters are as
follows:

--  In the first quarter of 2015, the Company recognized a $1.2 million
    foreign exchange gain as a result of a significant decrease in the value
    of the Canadian dollar relative to the US dollar;
--  In the fourth quarter of 2014, the Company incurred $0.7 million in
    severance to an executive who exercised an option to voluntarily
    terminate employment upon closing of the ARNIL sale;
--  In the second quarter of 2014, the Company recognized a $5.2 million
    gain on disposal of assets primarily with respect to the recognition in
    income of foreign currency translation adjustments previously included
    in accumulated other comprehensive income;
--  In the first quarter of 2014, the Company incurred $7.6 million in
    finance costs and loss on financial derivative related to the Company's
    bank loan and oil hedge obligations;
--  In the fourth quarter of 2013, the Company recognized a $14.6 million
    impairment charge on assets held for sale; and
--  In the third quarter of 2013, the Company recognized a $12.1 million
    impairment charge with respect to delays and cost overruns for the
    Causeway Field.

Risks and Uncertainties

The oil and gas industry involves a wide range of risks which include but are not limited to the uncertainty of
finding new commercial fields, securing markets for existing reserves, commodity price fluctuations, exchange
and interest rate costs and changes to government regulations, including regulations relating to prices, taxes,
royalties, land tenure, allowable production and environmental protection and access to off-shore production
facilities in the UK. The oil and natural gas industry is intensely competitive and the Company competes with a
large number of companies that have greater resources.

Substantial Capital Requirements

The Company's ability to establish reserves in the future will depend not only on its ability to develop its
present properties but also on its ability to select and acquire suitable exploration or producing properties
or prospects. The acquisition and development of properties also requires that sufficient funds, including
funds from outside sources, will be available in a timely manner. The availability of equity or debt financing
is affected by many factors, many of which are outside the control of the Company. World financial market
events and the resultant negative impact on economic conditions, particularly with respect to junior oil and
gas companies, have increased the risk and uncertainty of the availability of equity or debt financing.

Foreign Operations

A number of risks are associated with conducting foreign operations over which the Company has no control,
including currency instability, potential and actual civil disturbances, restriction of funds movement outside
of these countries, the ability of joint venture partners to fund their obligations, changes of laws affecting
foreign ownership and existing contracts, environmental requirements, crude oil and natural gas price and
production regulation, royalty rates, OPEC quotas, potential expropriation of property without fair
compensation, retroactive tax changes and possible interruption of oil deliveries.

Further discussions regarding the Company's risks and uncertainties, can be found in the Company's Annual
Information Form dated April 24, 2015 which is filed on SEDAR at www.sedar.com.

Notes on Oil and Gas Disclosure

Prospective resources are defined as those quantities of petroleum estimated, as of a given date, to be
potentially recoverable from undiscovered accumulations by application of future development projects.
Prospective resources have both an associated chance of discovery and a chance of development. Prospective
resources are further subdivided in accordance with the level of certainty associated with recoverable
estimates assuming their discovery and development and may be sub-classified based on project maturity.

Estimates of resources always involve uncertainty, and the degree of uncertainty can vary widely between
accumulations/projects and over the life of a project. Consequently, estimates of resources should generally be
quoted as a range according to the level of confidence associated with the estimates. An understanding of
statistical concepts and terminology is essential to understanding the confidence associated with resources
definitions and categories. The range of uncertainty of estimated recoverable volumes may be represented by
either deterministic scenarios or a probability distribution.

The calculation of barrels of oil equivalent ("boe") is based on a conversion rate of six thousand cubic feet
of natural gas ("mcf") to one barrel of crude oil ("bbl"). Boe's may be misleading, particularly if used in
isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the wellhead.

The resource estimates contained herein are estimates only and the actual results may be greater than or less
than the estimates provided herein. The estimates of resources for individual leads may not reflect the same
confidence level as estimated resources for all leads, due to the effects of aggregation.

Positive aspects of exploration in the Skellig Block are: (i) similarity of basin geology to geology of the
northern part of the Porcupine Basin and the Canadian North Atlantic basins on the conjugate margin where
hydrocarbon discoveries have been made; and (ii) a working petroleum system with a proven Jurassic source and
the possibility of mature Cretaceous shales. Potential concerns of exploration in the Skellig Block are: (i)
the presence of significant quantities of reservoir quality sands at depths of 4,000 to 6,000 metres subsea;
(ii) lateral seals in Cretaceous stratigraphic traps; and (iii) hydrocarbon migration into potential Cretaceous
reservoirs.

Additionally, certain abbreviations are as follows:

Oil and Natural Gas Liquids
----------------------------------------------

Bbls  - barrels
Mbbls - thousand barrels
Mboe  - thousand barrels of oil equivalent

Natural Gas
----------------------------------------------

Mcf   - thousand cubic feet
MMcf  - million cubic feet

Forward-Looking and Cautionary Statements

This MD&A and any documents incorporated by reference herein contain certain forward-looking statements and
forward-looking information which are based on Antrim's internal reasonable expectations, estimates,
projections, assumptions and beliefs as at the date of such statements or information. 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" 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 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 MD&A
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 MD&A 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 particular, this MD&A and any documents incorporated by reference herein, contain specific forward- looking
statements and information pertaining to the quantity of Antrim's resources of oil, natural gas liquids ("NGL")
and natural gas. This MD&A may also contain specific forward-looking statements and information pertaining to
Antrim's plans for exploring and developing its licences, including exploration of the Skellig block, commodity
prices, foreign currency exchange rates and interest rates, capital expenditure programs and other
expenditures, supply and demand for oil, NGLs and natural gas, expectations regarding Antrim's ability to raise
capital, to continually add to reserves through acquisitions and development, the schedules and timing of
certain projects, Antrim's strategy for growth, Antrim's future operating and financial results, treatment
under governmental and other regulatory regimes and tax, environmental and other laws.

With respect to forward-looking statements contained in this MD&A and any documents incorporated by reference
herein, Antrim has made assumptions regarding: Antrim's ability to obtain additional drilling rigs and other
equipment in a timely manner, obtain regulatory approvals, the consideration received in the ARNIL Sale will
not change materially as a result of post-closing adjustments, the level of future capital expenditure required
to exploit and develop reserves, the ability of Antrim's partners to meet their commitments as they relate to
the Company and Antrim's reliance on industry partners for the development of some of its properties, the
general stability of the economic and political environment in which Antrim operates and the future of oil and
natural gas pricing. In respect to these assumptions, the reader is cautioned that assumptions used in the
preparation of such information may prove to be incorrect.

Antrim's actual results could differ materially from those anticipated in these forward-looking statements and
information as a result of assumptions proving inaccurate and of both known and unknown risks, including risks
associated with the exploration for and development of oil and natural gas reserves such as the risk that
drilling operations may not be successful, unanticipated delays with respect to the development of Antrim's
properties, operational risks and liabilities that are not covered by insurance, volatility in market prices
for oil, NGLs and natural gas, changes or fluctuations in oil, NGLs and natural gas production levels, changes
in foreign currency exchange rates and interest rates, the ability of Antrim to fund its capital requirements,
Antrim's reliance on industry partners for the development of some of its properties, risks associated with
ensuring title to the Company's properties, liabilities and unexpected events inherent in oil and gas
operations, including geological, technical, drilling and processing problems, the risk that the consideration
from the ARNIL Sale is reduced as a result of post-closing adjustments, the risk of adverse results from
litigation and the accuracy of oil and gas resource estimates as they are affected by the Antrim's exploration
and development drilling. Additional risks include the ability to effectively compete for, among other things,
capital, acquisitions of reserves, undeveloped lands and skilled personnel, incorrect assessments of the value
of acquisitions, Antrim's success at acquisition, exploitation and development of reserves, changes in general
economic, market and business conditions in Canada, North America, Ireland, the United Kingdom, Europe and
worldwide, actions by governmental or regulatory authorities including changes in income tax laws or changes in
tax laws, royalty rates and incentive programs relating to the oil and gas industry and more specifically,
changes in environmental or other legislation applicable to Antrim's operations, and Antrim's ability to comply
with current and future environmental and other laws, adverse regulatory rulings, order and decisions and risks
associated with the nature of the Common Shares.

Many of these risk factors, other specific risks, uncertainties and material assumptions are discussed in
further detail throughout this MD&A and in Antrim's Annual Information Form for the year ended December 31,
2014. Readers are specifically referred to the risk factors described in this MD&A under "Risk Factors" and in
other documents Antrim files from time to time with securities regulatory authorities. Copies of these
documents are available without charge from Antrim or electronically on the internet on Antrim's SEDAR profile
at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The calculation of barrels of oil equivalent ("boe") is based on a conversion rate of six thousand cubic feet
of natural gas ("mcf") to one barrel of crude oil ("bbl"). Boe's may be misleading, particularly if used in
isolation. A boe conversion ratio of 6 mcf: 1 bbl is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the wellhead.

In accordance with AIM guidelines, Mr. Murray Chancellor, C. Eng., MICE and Managing Director, United Kingdom
for Antrim, is the qualified person that has reviewed the technical information contained in this MD&A. Mr.
Chancellor has over 25 years operating experience in the upstream oil and gas industry.

Antrim Energy Inc.
Condensed Interim Consolidated Balance Sheets
As at March 31, 2015 and December 31, 2014 (unaudited)
(Amounts in US$ thousands)

                                                      March 31  December 31
                                              Note        2015         2014
                                                   -------------------------
Assets
  Current assets
    Cash and cash equivalents                           14,344       15,420
    Restricted cash                                         12           12
    Accounts receivable                                    104          163
    Prepaid expenses                                       137          205
                                                   -------------------------
                                                        14,597       15,800

Property, plant and equipment                    3          15           18
Exploration and evaluation assets                4       1,172        1,283
                                                   -------------------------

                                                        15,784       17,101
                                                   -------------------------
                                                   -------------------------
Liabilities
  Current liabilities
    Accounts payable and accrued liabilities               348          736
                                                   -------------------------
                                                           348          736
                                                   -------------------------

Decommissioning obligations                      5       4,698        4,913
                                                   -------------------------
                                                         5,046        5,649
                                                   -------------------------

Shareholders' equity
Share capital                                    6     361,922      361,922
Contributed surplus                                     21,891       21,892
Accumulated other comprehensive loss                    (4,011)      (2,837)
Deficit                                               (369,064)    (369,525)
                                                   -------------------------

                                                        10,738       11,452
                                                   -------------------------

Total Liabilities and Shareholders' Equity              15,784       17,101
                                                   -------------------------
                                                   -------------------------

Commitments and contingencies                   11

The accompanying notes are an integral part of the condensed interim
consolidated financial statements.

Antrim Energy Inc.
Condensed Interim Consolidated Statements of Comprehensive Loss
For the three months ended March 31, 2015 and 2014 (unaudited)
(Amounts in US$ thousands, except per share data)

                                                         Three Months Ended
                                                                   March 31
                                            Note         2015          2014
                                                 ---------------------------

Revenue                                                     -             -

Expenses
General and administrative                     9          777         1,237
Depletion and depreciation                     3            3            17
Share-based compensation                       7           (1)          141
Exploration and evaluation                                 14             7
Finance income                                            (14)            -
Finance costs                                               8            13
Foreign exchange loss (gain)                           (1,248)          123
                                                 ---------------------------
Income (loss) from continuing operations
 before incometaxes                                       461        (1,538)
Income tax expense                                          -             -
                                                 ---------------------------
Income (loss) from continuing operations
 after incometaxes                                        461        (1,538)
Loss from discontinued operations             13            -        (6,923)
                                                 ---------------------------
                                                 ---------------------------
Net income (loss) for the period                          461        (8,461)
                                                 ---------------------------

Other comprehensive income
Items that may be subsequently
 reclassified to profit or loss:
  Foreign currency translation adjustment              (1,174)          (16)
                                                 ---------------------------
Other comprehensive income (loss) for the
 period                                                (1,174)          (16)
                                                 ---------------------------
Comprehensive loss for the period                        (713)       (8,477)
                                                 ---------------------------
                                                 ---------------------------

Net income (loss) per common share
Basic and diluted- continuing operations       8         0.00         (0.01)
Basic and diluted - discontinued
 operations                                    8            -         (0.04)

The accompanying notes are an integral part of the condensed interim
consolidated financial statements.

Antrim Energy Inc.
Condensed Interim Consolidated Statements of Cash Flows
For the three months ended March 31, 2015 and 2014 (unaudited)
(Amounts in US$ thousands)

                                                         Three Months Ended
                                                                   March 31
                                              Note        2015         2014
                                                   -------------------------
Operating Activities
Income (loss) from continuing operations
 after income taxes                                        461       (1,538)
Items not involving cash:
  Depletion and depreciation                     3           3           17
  Share-based compensation                       7          (1)         141
  Accretion of decommissioning obligations       5           6           11
  Foreign exchange loss                                      -          190
Changes in non-cash working capital items -
 continuing operations                          10        (243)         415
                                                   -------------------------
Cash provided by (used in) operating
 activities - continuing operations                        226         (764)
Cash provided by (used in) operating activities -
 discontinued operations                                     -        2,581
                                                   -------------------------
Cash provided by (used in) operating
 activities                                                226        1,817
                                                   -------------------------

Financing Activities
Payments on long-term debt facility                          -       (4,000)
Financial derivative settlements                             -         (588)
                                                   -------------------------
Cash provided by (used in) financing
 activities - discontinued operations                        -       (4,588)
                                                   -------------------------

Investing Activities
Exploration and evaluation assets additions                (28)        (142)
Change in restricted cash                                    -          617
Cash proceeds from disposal of assets           13           -        5,000
                                                   -------------------------
Cash used in investing activities -
 continuing operations                                     (28)       5,475
Cash used in investing activities -
 discontinued operations                                     -       (3,051)
                                                   -------------------------
Cash provided by (used in) investing
 activities                                                (28)       2,424
                                                   -------------------------
                                                   -------------------------

Effects of foreign exchange on cash and cash
 equivalents                                            (1,274)         (49)
                                                   -------------------------

Net decrease in cash and cash equivalents               (1,076)        (396)
Cash and cash equivalents - beginning of
 period                                                 15,420        1,082
                                                   -------------------------
Cash and cash equivalents - end of period               14,344          686
                                                   -------------------------
                                                   -------------------------

The accompanying notes are an integral part of the condensed interim
consolidated financial statements.

Antrim Energy Inc.
Condensed Interim Consolidated Statements of Changes in Equity
For the three months ended March 31, 2015 and 2014 (unaudited)
(Amounts in US$ thousands)

                                                                    Accumulated
                                                                          Other
                                             Share   Contributed  Comprehensive
                                Note       Capital       Surplus  Income (Loss)     Deficit     Total
                                     -----------------------------------------------------------------
Balance, December 31, 2013                 361,922        21,527          4,673    (359,410)   28,712
Net loss for the period                          -             -              -      (8,461)   (8,461)
Other comprehensive income                       -             -            (16)          -       (16)
Share-based compensation           7             -           141              -           -       141
                                     -----------------------------------------------------------------
Balance, March 31, 2014                    361,922        21,668          4,657    (367,871)   20,376
                                     -----------------------------------------------------------------

Balance, December 31, 2014                 361,922        21,892         (2,837)   (369,525)   11,452
Net income for the period                        -             -              -         461       461
Other comprehensive loss                         -             -         (1,174)          -    (1,174)
Share-based compensation           7             -            (1)             -           -        (1)
                                     -----------------------------------------------------------------
Balance, March 31, 2015                    361,922        21,891         (4,011)   (369,064)   10,738
                                     -----------------------------------------------------------------
                                     -----------------------------------------------------------------

The accompanying notes are an integral part of the condensed interim
consolidated financial statements.

Antrim Energy Inc.
Notes to Condensed Interim Consolidated Financial Statements
For the three months ended March 31, 2015 and 2014 (unaudited)
(Amounts in US$thousands)

1) Nature of Operations

Antrim Energy Inc. ("Antrim" or the "Company") is a Calgary based oil and natural gas company. Through
subsidiaries, the Company conducts exploration activities in the United Kingdom and Ireland. Antrim Energy Inc.
is incorporated and domiciled in Canada. The Company's common shares are listed on the TSX Venture Exchange
("TSXV") and the London AIM market ("AIM") under the symbols "AEN" and "AEY", respectively. The address of its
registered office is 1600, 333 - 7th Avenue S.W, Calgary, Alberta, Canada.

2) Basis of Presentation

a) Statement of compliance

These condensed interim consolidated financial statements for the three months ended March 31, 2015 have been
prepared in accordance with International Accounting Standard ("IAS") 34 Interim Financial Reporting, and have
been prepared following the same accounting policies as the annual consolidated financial statements for the
year ended December 31, 2014. The condensed interim consolidated financial statements should be read in
conjunction with the annual consolidated financial statements for the year ended December 31, 2014, which have
been prepared in accordance with International Financial Reporting Standards ("IFRS").

The policies applied in these condensed interim consolidated financial statements are based on IFRS issued and
outstanding as at May 27, 2015, the date the Board of Directors approved the interim consolidated financial
statements.

b) Presentation currency

In these condensed interim consolidated financial statements, unless otherwise indicated, all dollar amounts
are expressed in United States ("US") dollars. The Company has adopted the US dollar as its presentation
currency to facilitate a more direct comparison to North American oil and gas companies with international
operations.

c) Critical accounting judgments and key sources of estimation uncertainty

The timely preparation of financial statements requires that management make estimates and assumptions and use
judgment regarding assets, liabilities, revenues and expenses. Such estimates primarily relate to unsettled
transactions and events as at the date of the financial statements. Accordingly, actual results may differ from
estimated amounts as future confirming events occur.

Significant estimates and judgments used in the preparation of the financial statements are described in the
Company's consolidated annual financial statements for the year ended December 31, 2014.

d) Changes in accounting policies

The interim consolidated financial statements are prepared on a historical cost basis except as detailed in the
accounting policies disclosed in the Company's consolidated financial statements for the year ended December
31, 2014.

3) Property, plant and equipment

                                                   March 31     December 31
                                                       2015            2014
                                            --------------------------------
Opening balance                                          18              64
Additions                                                 -               -
Depletion and depreciation                               (3)            (42)
Foreign currency translation                              -              (4)
                                            --------------------------------
Closing balance                                          15              18
                                            --------------------------------
                                            --------------------------------

4) Exploration and evaluation assets

                                                   March 31     December 31
                                                       2015            2014
                                            --------------------------------
Opening balance                                       1,283           1,125
Additions                                                28             320
Foreign currency translation                           (139)           (162)
                                            --------------------------------
Closing balance                                       1,172           1,283
                                            --------------------------------
                                            --------------------------------

Exploration and evaluation assets at March 31, 2015 and December 31, 2014 relate to the Company's Ireland
Frontier Exploration Licence.

5) Decommissioning obligations

                                                   March 31     December 31
                                                       2015            2014
                                            --------------------------------
Opening balance                                       4,913           4,130
Additions                                                 -               -
Accretion                                                 6              49
Change in estimate                                        -           1,058
Foreign currency translation                           (221)           (324)
                                            --------------------------------
Closing balance                                       4,698           4,913
                                            --------------------------------
                                            --------------------------------

At March 31, 2015, the estimated undiscounted decommissioning obligations are $4,719 (December 31, 2014 -
$4,937). The expenditures are expected to be incurred by 2016. The change in estimate in 2014 is related to
suspended non-producing wells and is recorded as E&E expense.

The present value of the decommissioning obligations has been calculated using a risk-free interest rate of
0.50% (2014 - 0.50%) and an inflation rate of 2.0% (2014 - 2.0%).

6) Share capital

Authorized
Unlimited number of common voting shares

Common shares issued                          Number of               Amount
                                              Shares                       $
                                              ------------------------------
Balance, March 31, 2015 and December 31, 2014 184,731,076            361,922
                                              ------------------------------
                                              ------------------------------

7) Share-based compensation

The Company has a program whereby it may grant options to its directors, officers and employees to purchase up
to 10% of the issued and outstanding number of common shares. The exercise price of each option is no less than
the market price of the Company's stock on the date of grant. Stock option terms are determined by the
Company's Board of Directors but options typically vest evenly over a period of three years from the date of
grant and expire five years after the date of grant.

Share-based compensation for the three months ended March 31, 2015 was a recovery of $1 (2014 - expense of
$141).

The following table illustrates the number and weighted average exercise prices of and movements in share
options under the option program during the period.

                                  Three Months Ended     Three Months Ended
                                    March 31, 2015         March 31, 2014
                                --------------------------------------------
                                            Weighted               Weighted
                                             average                average
                                            exercise               exercise
                                              price                  price
                                              Cdn $                  Cdn $
                                --------------------------------------------
Outstanding at beginning of
 period                          5,345,002       0.65    7,575,000      0.67
Granted                                  -          -            -         -
Forfeited                         (800,002)      0.73            -         -
Expired                           (290,000)      1.02            -         -
                                --------------------------------------------
Outstanding at end of period     4,255,000       0.61    7,575,000      0.67
                                --------------------------------------------
                                --------------------------------------------

8) Earnings per share

                                                   Three Months Ended
                                                        March 31
                                                        2015           2014
                                             -------------------------------
Income (loss) from continuing operations                 461         (1,538)
Loss from discontinued operations                          -         (6,923)
                                             -------------------------------
Net income (loss) for the period                         461         (8,461)
                                             -------------------------------
                                             -------------------------------

Basic earnings per share:
Issued common shares                             184,731,076    184,731,076
Effect of share options exercised                          -              -
                                             -------------------------------
Weighted average number of common shares -
 basic                                           184,731,076    184,731,076
                                             -------------------------------
                                             -------------------------------

Diluted earnings per share:
Weighted average number of common shares -
 basic                                           184,731,076    184,731,076
Effect of outstanding options                              -              -
                                             -------------------------------
Weighted average number of common shares -
 diluted                                         184,731,076    184,731,076
                                             -------------------------------
                                             -------------------------------

Basic and diluted income (loss) per common
 share:
From continuing operations                              0.00          (0.01)
From discontinued operations                               -          (0.04)
                                             -------------------------------
Total basic and diluted loss per share                  0.00          (0.05)
                                             -------------------------------
                                             -------------------------------

There have been no other transactions involving common shares or potential common shares between the reporting
date and the date of completion of these financial statements.

For the periods ended March 31, 2015 and 2014, all stock options were anti-dilutive and were not included in
the diluted common share calculation.

9) General and administrative expenses

                                                   Three Months Ended
                                                        March 31
                                                        2015           2014
                                             -------------------------------
Wages and salaries                                       444            370
Occupancy                                                 83             93
Administrative                                           250            824
Travel                                                     -              8
Overhead recovery                                          -            (58)
                                             -------------------------------
                                             -------------------------------
                                                         777          1,237
                                             -------------------------------
                                             -------------------------------

10) Supplemental cash flow information

                                                   Three Months Ended
                                                        March 31
                                                       2015            2014
                                            --------------------------------
(Increase)/decrease of assets:
  Trade and other receivables                            54              (6)
  Inventory and prepaid expenses                         55              32
Increase/(decrease) of liabilities:
  Trade and other payables                             (352)            389
                                            --------------------------------
                                                       (243)            415
                                            --------------------------------
                                            --------------------------------

Cash and cash equivalents are comprised of:
  Cash in bank                                        4,644             686
  Short-term deposits                                 9,700               -
                                            --------------------------------
                                                     14,344             686
                                            --------------------------------
                                            --------------------------------

11) Commitments and contingencies

The Company has net commitments in respect of its petroleum and natural gas properties and operating leases,
including operating costs, as at March 31, 2015 as follows:

($000's)                            2015    2016    2017    2018  Thereafter
----------------------------------------------------------------------------
Office Leases                        266     354     328       3           -
Ireland                              362       -       -       -           -
United Kingdom
  Fyne                                10      10       -       -           -
  Erne                                 -       -       -       -           -
----------------------------------------------------------------------------
Total                                638     364     328       3           -
----------------------------------------------------------------------------
----------------------------------------------------------------------------

12) Financial instruments and financial risks

Financial instruments

Financial assets and financial liabilities are initially recognized at fair value and are subsequently
accounted for based on their classification. The classification categories, which depend on the purpose for
which the financial instruments were acquired and their characteristics include held-for-trading, available-for-
sale, held-to-maturity, loans and receivables, investments, and other liabilities. Except in very limited
circumstances, the classification is not changed subsequent to initial recognition.

The Company's financial instruments consist of cash, cash equivalents, restricted cash, accounts receivable and
accounts payable and accrued liabilities. Cash and cash equivalents, restricted cash, and accounts receivable
are classified as loans and receivables and are accounted for at amortized cost. Accounts payable and accrued
liabilities are classified as other liabilities and are accounted for at amortized cost. Due to the short-term
maturity of these financial instruments, fair values approximate carrying amounts.

Financial risks

The Company is exposed to financial risks encountered during the normal course of its business. These financial
risks are composed of credit risk, liquidity risk and market risk including commodity price and foreign
currency exchange risks.

(a) Credit risk

The Company is exposed to the risk that its counterparties will fail to discharge their obligations to the
Company on its cash, cash equivalents, accounts receivable and certain non-current assets.

Cash and cash equivalents and restricted cash are on deposit with reputable Canadian and international banks,
and therefore the Company does not believe these financial instruments are subject to material credit risk.

The extent of the Company's credit risk exposure is identified in the following table:

                                                     March 31    December 31
                                                         2015           2014
                                              ------------------------------
Cash and cash equivalents                              14,344         15,420
Restricted cash                                            12             12
Accounts receivable                                       104            163
                                              ------------------------------
                                                       14,460         15,595
                                              ------------------------------
                                              ------------------------------

No accounts receivable are past due or considered impaired.

(b) Liquidity risk

The Company is exposed to liquidity risk from the possibility that it will encounter difficulty meeting its
financial obligations. The Company manages this risk by forecasting cash flows in an effort to identify future
liabilities and arrange financing, if necessary. It may take many years and substantial cash expenditures to
pursue exploration and development activities on all of the Company's existing undeveloped properties.
Accordingly, the Company will need to raise additional funds from outside sources in order to explore and
develop its properties. There is no assurance that adequate funds from debt and equity markets will be
available to the Company in a timely manner.

As at March 31, 2015 the Company's financial liabilities are due within one year.

(c) Market risk

Market risk consists of commodity price risk and foreign currency exchange risk.

Commodity price risk

On April 24, 2014 the Company completed the sale of Antrim Resources (N.I.) Limited and settled its outstanding
obligations under its Payment and Oil Swap agreements (see note 13).

Foreign currency exchange risk

The Company is exposed to fluctuations in foreign currency exchange rates as many of the Company's financial
instruments are denominated in United States dollars, Canadian dollars and British pounds sterling. As a
result, fluctuations in the United States dollar against the Canadian dollar and British pound sterling could
result in unanticipated fluctuations in the Company's financial results. The Company seeks to minimize foreign
exchange risk by holding cash and cash equivalents in United States dollars when not required in support of
current operations.

Capital management

The Company's objective when managing its capital is to safeguard the Company's ability to continue as a going
concern, maintain adequate levels of funding to support its exploration and development program, and provide
flexibility in the future development of its business. The ability of the Company to successfully carry out its
business plan is dependent upon the continued support of its shareholders, attracting joint venture partners,
the discovery of economically recoverable reserves and the ability of the Company to obtain financing to
develop reserves. The Company maintains and adjusts its capital structure based on changes in economic
conditions and the Company's planned requirements. The Company may adjust its capital structure by issuing new
equity and/or debt, selling assets, and controlling capital expenditure programs. The Company intends to fund
its planned capital program through existing cash resources.

The Company's capital structure at March 31, 2015 consisted of cash and cash equivalents and shareholders'
equity. Shareholders' equity includes shareholders' capital, contributed surplus, and accumulated other
comprehensive loss and deficit.

The capital structure of the Company consists of:

                                                     March 31    December 31
                                                         2015           2014
                                              ------------------------------
Cash and cash equivalents                              14,344         15,420
Shareholders' equity                                   10,738         11,452

Current restrictions on the availability of credit may limit the Company's ability to access debt or equity
financing for its projects. The Company forecasts cash flows against a range of macroeconomic and financing
market scenarios in an effort to identify future liabilities and arrange financing, if necessary. Although the
Company may need to raise additional funds from outside sources, if available, in order to develop its oil and
gas properties, the Company seeks to maintain flexibility to manage financial commitments on these assets.

Methods employed to adjust the Company's capital structure could include any, all or a combination of the
following activities:

i.  1. Issue new shares through a public offering or private placement;
ii. 2. Issue equity linked or convertible debt;
iii.3. Raise fixed or floating rate debt;
iv. 4. Sell or farm-out existing exploration assets.

13) Loss from discontinued operations

The Company entered into an agreement (the "Agreement") on February 7, 2014 with First Oil Expro Limited
("FOE") pursuant to which, subject to the terms and conditions of the Agreement, FOE agreed to purchase from
the Company (the "Transaction") all of the issued and outstanding shares in the capital of Antrim's UK
subsidiary, Antrim Resources (N.I.) Limited ("ARNIL") for $53 million in cash, plus the assumption of certain
liabilities and adjusted working capital, from which Antrim would settle on closing all outstanding obligations
under its Payment and Oil Swap agreements. The economic date of the transaction was January 1, 2014 and a $5
million deposit was received in February 2014. On April 24, 2014 the Company completed the sale of ARNIL.

The combined results of the discontinued operations which have been included in the consolidated statement of
loss and comprehensive loss are as follows.

                                                   Three Months Ended
                                                        March 31
                                                        2015           2014
                                             -------------------------------
                                             -------------------------------
Discontinued operations
Revenue                                                    -          2,476

Expenses
Direct production and operating expenditures               -            974
Depletion and depreciation                                 -            844
Finance and administrative costs                           -          4,465
Loss on financial derivative                               -          3,116
                                             -------------------------------
Loss from discontinued operations                          -         (6,923)
                                             -------------------------------
                                             -------------------------------

DIRECTORS

Stephen Greer (1)(3)
Chairman

Erik Mielke (1)(2)(3)
Independent Director

Jim Perry (1)(2)(3)(4)
Independent Director

Anthony Potter
Director
Antrim Energy Inc.

Jay Zammit (2)(4)
Partner,
Burstall Winger Zammit LLP

(1) Member of the Audit Committee
(2) Member of the Compensation Committee
(3) Member of the Reserves Committee
(4) Member of the Corporate Governance Committee

OFFICERS

Anthony Potter
President, Chief Executive Officer and Chief Financial Officer

Adrian Harvey
Corporate Secretary

STOCK EXCHANGE LISTINGS

TSX Venture Exchange (TSXV): Trading Symbol "AEN"
London Stock Exchange (AIM): Trading Symbol "AEY"

HEAD OFFICE

610, 301 8th Avenue SW
Calgary, Alberta
Canada T2P 1C5
Main: +1 403 264 5111
Fax: + 1 403 264 5113
[email protected]
http://www.antrimenergy.com/

The Company's website is not incorporated by reference in and does not form
a part of this report.

LONDON OFFICE

Ashbourne House, The Guildway
Old Portsmouth Road, Artington
Guildford, Surrey
United Kingdom GU3 1LR
Main: +44 (0) 1483 307 530
Fax: +44 (0) 1483 307 531

INTERNATIONAL SUBSIDIARIES

Antrim Energy Ltd.
Antrim Exploration (Ireland) Limited
Antrim Energy (UK) Limited
Antrim Energy (Ventures) Limited

LEGAL COUNSEL

Burstall Winger Zammit LLP
Calgary, Alberta

BANKERS

Toronto-Dominion Bank of Canada

AUDITORS

PricewaterhouseCoopers LLP
Calgary, Alberta

INDEPENDENT ENGINEERS

McDaniel & Associates Consultants Ltd.

REGISTRAR AND TRANSFER AGENT

Inquiries regarding change of address, registered shareholdings, stock
transfers or lost certificates should be direct to:

CST Trust Company
Calgary, Alberta
[email protected]

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Antrim Energy Inc.
Anthony Potter
President, Chief Executive Officer and Chief Financial Officer
Telephone: + 1 403 264-5111
[email protected]

OR

Nominated Advisor
RFC Ambrian Limited
Samantha Harrison
Telephone: +44 (0) 20 3440 6800

-0-

Antrim Energy Inc.

a d v e r t i s e m e n t