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Antrim Energy Inc. Reports 2012 Results; Shares Dive to New Yr Low

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Antrim Energy (AEN.TO) today reported its financial results for Q4 2012.

The company reported a net loss of $67.1 million, versus a net loss of $14.9 million for Q4 2011.

Net loss per share was $0.37 ($0.09 for 2011)

2013 Outlook

Antrim expects to see increased production from the Causeway Field following deployment of the ESP in the second half of 2013, and the implementation of the water injection scheme scheduled to commence operation in 2014, with a possibility of it being accelerated to the second half of 2013.

Following the discovery of the Cormorant East Field by the Contender Well, Antrim anticipates planning at least one appraisal well, downdip of the discovery well and a plan to explore the adjacent fault compartments.

Antrim is now trading at 20 cents, down 48.7%. Volume traded is 3.7 million.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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