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Antrim awarded new licence in Argentina

Tuesday, October 02, 2007

Antrim Energy has been awarded an exploration licence for the Tres Nidos Sur block in Rio Negro province in central Argentina. Tres Nidos Sur is immediately adjacent to and north of the Medianera Licence in the Neuquen Basin, where Antrim has a 70% working interest. The company’s working interest in Tres Nidos Sur will also be 70%.

Under the terms of the licence, Antrim will acquire a minimum of 50 sq km of 3D seismic in year one, and drill an exploration well in year two. The company said it planned to coordinate the exploration and development of Tres Nidos Sur with Medianera.

In August this year, Antrim announced the discovery of a new oil and gas field in the north area of the Medianera licence. Both wells drilled, M3001 and M3002, intersected an oil column in the Cretaceous Quintuco Formation.






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