Antrim makes discovery in North Sea

Antrim Energy, the Calgary based oil exploration company, has announced a discovery at its Erne exploration well in the North Sea.Antrim, which has a 50% interest in the well, with Premier Oil holding the other 50%, says a hydrocarbon column in excess of 50 feet was encountered during drilling.The firm says 20 feet was net oil pay and another ten feet was net gas pay.No flow test was conducted on the well although both owners of the site have agreed to drill a sidetrack to "further delineate the reservoir".Shares in Antrim have risen 5% in morning trading, while shares in Premier Oil have fallen back slightly to 361.8p, a drop of 0.73%.BS