Antrim increases flow with hydraulic fracturing at Tierra Del Fuego in Argentina

Source: Antrim Energy

Antrim Energy Inc. (TSX:AEN) (AIM:AEY) has successfully performed fracture stimulation on two of its wells in the Los Flamencos field in the Tierra Del Fuego area of southern Argentina.

Well LF-1023, drilled in late 2010, was initially completed with a flow rate of 0.4 million cubic feet per day ("MMCFD") of gas at low pressures. The well was re-entered and fracture stimulated in early August and placed on production at an initial production rate of 5.0 MMCFD gas plus 25 barrels of oil per day ("BOPD") at a flowing well head pressure of 475 pounds per square inch ("psi").

Well LF-1010, drilled in 2008 and producing gas at a rate of approximately 1 MMCFD, was also successfully fracture stimulated earlier this month. The well has been placed back on production at an initial production rate of 2.0 MMCFD plus 65 BOPD. Antrim holds a 25.78% working interest in its Tierra Del Fuego properties.

The addition of LF-1023 and improved flow rates from LF-1010 is expected to bolster the Company's Tierra Del Fuego production, which averaged 1,600 barrels of oil equivalent per day ("BOEPD") net to Antrim during the first six months of the year. Argentina is a self sustaining and growing profit centre for Antrim. The Company is currently building an exploration portfolio, having recently acquired a 50.1% working interest in and operatorship of the Cerro los Leones exploration permit in the Neuquen Basin.

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