Antrim to get interest in UK North Sea block

Antrim Energy Inc. has reached an agreement to acquire a 75% working interest in Block 21/28a in the Central North Sea from Eni SPA. The block contains the Fyne and Dandy oil fields, which have been delineated with eight wells drilled in 1971-98.

Oct. 3, 2006

By OGJ editors
HOUSTON, Oct. 2 -- Antrim Energy Inc. has reached an agreement to acquire a 75% working interest in Block 21/28a in the Central North Sea from Eni SPA. The block contains the Fyne and Dandy oil fields, which have been delineated with eight wells drilled in 1971-98.

The fields are combination structural-stratigraphic traps of Middle Eocene Tay sandstones with secondary potential in underlying Jurassic strata.

Three of the eight wells have flowed at rates of 1,240-3,600 b/d of oil on production tests. Fyne and Dandy are about 10 km from and on trend with Sheryl (formerly Disraeli) oil field, a Tay formation discovery.

Sheryl is due south of the Petro-Canada's Saxon and Pict oil discoveries, also in the Tay formation. Pict began production in June 2005 (OGJ, July 4, 2005, Newsletter). Saxon is expected to begin production in 2007.