Antrim Energy Inc., a Canada-based international exploration and production company, has announced consent has been received from the Irish Government for the transfer of interest and operatorship for its Licensing Option 11/5 (Antrim 100%) in the Porcupine Basin offshore Ireland's west coast.

The Transfer of the interest and operatorship was approved by the Minister of State at the Department of Communications, Energy and Natural Resources (DCENR). As previously announced on April 18, 2013, Kosmos Energy Ireland, a subsidiary of Kosmos Energy Ltd. acquired 75% interest and operatorship in the Licensing Option in exchange for carrying the full costs of a planned 3D seismic programme within the licence area and re-imbursement to Antrim of a portion of the exploration costs incurred on the blocks to date. Antrim retains 25% interest.

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Kosmos and Antrim will now apply to DCENR for conversion of the Licensing Option to a 15-year Frontier Exploration Licence and approval for the 3D seismic programme. Under the terms of the Licensing Option, a minimum of 25% of the area must be relinquished when converting to a Frontier Exploration Licence. Contingent on approval of the Frontier Exploration Licence application by DCENR, the 3D seismic programme may proceed as early as this year.

Antrim acquired the Licensing Option in the 2011 Atlantic Margin Licensing Round. The Licensing Option includes Blocks 44/4, 44/5 (part), 44/9, 44/10, 44/14 and 44/15, an area of 1,409 km2. Antrim and Kosmos have identified a Cretaceous deep sea fan complex on the Skellig Block similar in seismic character to many of the recent discoveries in offshore West Africa, including the Jubilee Field offshore Ghana that produces approximately 110,000 barrels of oil per day from a Cretaceous fan reservoir, where Kosmos holds a 24.1% interest.

The licence adjacent to the Skellig Block contains the Dunquin North and South prospects, which have been estimated by licence partners Providence Resources (Plc) and Sosina Exploration Ltd. to potentially contain in excess of 1,700 million barrels of oil equivalent recoverable volumes in the form of natural gas and gas condensate in a Cretaceous target. ExxonMobil, operator of the licence, began drilling an exploration well in early May 2013.

Stephen Greer, President and CEO of Antrim, commented: "Antrim is very pleased to receive this consent from the Irish government, and equally pleased at the enthusiasm demonstrated by Kosmos to initiate 3D seismic acquisition planning so quickly."

(CD/MH)