Antrim Energy Commences Drilling on the Fyne Field, UK Central North Sea

CALGARY, ALBERTA–(EMWNews – July 15, 2008) –

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Antrim Energy Inc. (“the Company”) (TSX:AEN) (AIM:AEY), an international oil and gas exploration and production company, today announces it has commenced drilling operations on the Antrim-operated Fyne Field in the UK Central North Sea block 21/28a (Antrim working interest 75%).

The 21/28a-10 well will target the Eocene Tay Sandstone. This well is located approximately 1400 metres northwest of Antrim’s 21/28a-9y well, which penetrated 120 ft of oil pay (60 ft TVD) and came in at the top end of pre-drill expectations, and 1500 metres west of the previously drilled 21/28a-2 well, which tested up to 3,600 bopd from 30 ft of oil bearing Tay Sandstone. The 21/28a-10 well will be drilled and sidetracked with minimum deviation and, if successful, will be retained as a production well.

At year end 2007, Antrim’s Fyne and Dandy licence was determined by independent reserve evaluation engineers, McDaniel and Associates, to hold 131 million barrels of oil in place, or 21 million barrels of proved plus probable recoverable reserves (Antrim net 98 million barrels and 16 million barrels respectively), representing 42% of corporate recoverable proved plus probable reserves.

The Fyne Field is on trend with several other Tay fields in the area, including the West Guillemot, Pict and Saxon developments. Fyne is situated approximately 20 kilometres from existing infrastructure, which provides production services for several fields in the area.

As previously reported, the company has contracted the Transocean Prospect for this drilling program. Drilling operations, including are anticipated to take three weeks and, if successful, the well will be tested over a period of approximately two weeks.

About Antrim

Antrim Energy Inc. is a Canadian; Calgary based high-growth junior oil and gas exploration and production company with assets in the UK North Sea and Argentina. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange’s Alternative Investment Market (AEY). Visit www.antrimenergy.com for more information.

Forward-Looking Statements

This news release contains certain forward-looking statements, which include assumptions with respect to future plans, results and capital expenditures. Cumulative volumes are not necessarily representative of future production volumes. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Antrim’s control. Please refer to Antrim’s Annual Information Form for the year ended December 31, 2007 and dated March 31, 2008 and available for viewing at www.sedar.com, for a list of risk factors. Antrim’s actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Antrim will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Antrim or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.

Qualified Person Review

In accordance with AIM guidelines, Mr. Kerry Fulton, P. Eng and Chief Operating Officer of Antrim, is the qualified person that has reviewed the technical information contained in this news release.