CALGARY, ALBERTA and LONDON, UNITED KINGDOM–(Marketwire – Jan. 16, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.
Antrim Energy Inc. (TSX:AEN) (AIM:AEY) (“Antrim” or the “Company”)
Antrim today confirms that the export infrastructure system (“Export System”) used by the Causeway Field (“Causeway) and Cormorant East Field (“Cormorant East”) in the UK Northern North Sea is currently unavailable due to a potential hydrocarbon leak on the Cormorant Alpha platform. As a consequence, all production and associated pipeline infrastructure associated with the Cormorant Alpha platform are currently shut-in, including Causeway and Cormorant East.
Production from both Causeway and Cormorant East is processed at the North Cormorant platform operated by TAQA Bratani Limited (“TAQA”) before being exported to the Cormorant Alpha platform. Besides the Causeway and Cormorant East Fields, the shutdown has affected a number of other platforms and over twenty other fields in the UK Northern North Sea. The Cormorant Alpha handles over 90,000 barrels per day of crude oil, which is transported through the Brent pipeline to the BP-operated Sullom Voe terminal for sale.
TAQA, the Export System Operator, is providing updates on the shutdown status via its website:
Forward-Looking and Cautionary Statements
Some of the statements in this announcement may be forward-looking including statements relating to Antrim’s production from the Causeway and Cormorant East Fields. Forward-looking statements include statements regarding the intent, belief and current expectations of Antrim Energy Inc. 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 Amended and Restated Annual Information Form for the year ended December 31, 2011 and dated March 26, 2012 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.
In accordance with AIM guidelines, Mr. Terry Lederhouse, P. Eng. and VP – Commercial of Antrim, is the qualified person that has reviewed the technical information contained in this news release. Mr. Lederhouse has over 37 years of experience in the upstream oil and gas industry.
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