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Antrim Energy Inc. ("Antrim Energy") (TSX:AEN) (AIM:AEY) is pleased to announce
that two agreements have been signed which are expected to lead to the
resumption of exploration activities on the Production Sharing Agreement for the
Pemba - Zanzibar exploration licence offshore and onshore Tanzania (the "P-Z
PSA").


Antrim Energy has signed an agreement with Ras Al Khaimah Gas Tanzania Limited
("RAK Gas") and NOR Energy AS ("NOR") whereby Antrim Energy has replaced its
previous right to be carried through the pre-drilling exploration phase of the
P-Z PSA with a 20% carried interest through the pre-drilling phase and an
additional 10% right to participate in the P-Z PSA to be exercised up to 180
days following receipt of the initial drilling results. The carried interests
(up to 30%) are to be repaid from future production. Antrim Energy's previous
option was acquired in 2006 as part of a sale of several assets to NOR,
including its wholly owned subsidiary Antrim Resources (Tanzania) Limited.


Concurrent with this agreement, RAK Gas and NOR have entered into an agreement
that provides RAK Gas with the option to acquire control of the P-Z PSA. As part
of this agreement, RAK Gas has undertaken to re-negotiate the P-Z PSA
exploration work programme with Tanzania Petroleum Development Corporation
("TPDC") and to secure access rights to the licence area from the relevant
authorities.


The licence, which covers 3.5 million acres (14,060 km(2)), is in a highly
prospective oil and gas region that has recently seen significant exploration
activity. Licences on trend are held by Shell, Exxon Mobil, Statoil, Petrobras,
Ophir Energy, British Gas and Tullow Oil. TPDC expects up to ten offshore wells
will be drilled in offsetting licences in 2010 - 11, including a three well
programme by Ophir - British Gas (two of which were drilled in 2010), two wells
planned by Petrobras, one by Statoil, and one by Dominion. The two wells drilled
by British Gas under a farmout with Ophir, the Pweza-1 well in October and the
Chewa-1 well in December, were both announced by British Gas as gas discoveries.


The Pemba - Zanzibar block has a proven hydrocarbon system, as evidenced by the
Tundaua oil seep on Pemba Island and oil shows in previous exploration wells.
Multiple source rocks and petroleum reservoirs are anticipated and numerous
prospects mapped. Approximately 75% of the licence lies in water depths of less
than 200 metres, with the islands of Pemba and Zanzibar providing potential for
on-shore directional drilling.


RAK Gas LLC is the state natural gas utility of the Emirate of Ras al Khaimah in
the UAE. RAK Gas has interests in two offshore blocks in Ras al Khaimah as well
as holding interests in exploration blocks in East Africa and Egypt, including
the East Pande block in Tanzania.


Stephen Greer, President and CEO of Antrim Energy, commented: "We are very
encouraged by the entry of RAK Gas into this licence. The Pemba-Zanzibar block
has enormous exploration potential, and the area has recently been attracting
considerable interest from major petroleum companies. We expect these two
agreements, and the participation of RAK Gas in particular, will lead to a
resumption of exploration activity on the Pemba-Zanzibar block in the near
future."


About Antrim Energy Inc.

Antrim Energy Inc. is an international oil and gas exploration and production
company, headquartered in Calgary, Canada.


Antrim's strategy is to pursue a bilateral strategy of balancing longer term and
capital-intensive investments in the UK North Sea with shorter investment cycle
on-shore exploration and production opportunities. Antrim also considers other
global exploration opportunities as they arise.


Additional information concerning Antrim Energy is available at
www.antrimenergy.com. Investor inquiries may be directed to
info@antrimenergy.com or 1-403-264-5111.


Forward-Looking Statements

Some of the statements in this announcement are forward-looking. Forward-looking
statements include statements regarding the intent, belief and current
expectations of Antrim Energy Inc. When used in this announcement, the word
"anticipate, expects, estimates" and similar expressions, and the negatives
thereof, whether used in connection with drilling activity, reserves of
neighboring properties or otherwise, are intended to identify forward-looking
statements. Such statements are not promises or guarantees, and are subject to
risks and uncertainties that could cause actual outcome to differ materially
from those suggested by any such statements. 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,
2009 and dated March 23, 2010 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. Terry Lederhouse, P. Eng and Vice
President Commercial of Antrim, is the qualified person that has reviewed the
technical information contained in this news release.

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