Antrim Energy Inc. Announces Two Leading Independent Proxy Advisory Firms Recommend Voting in Favour of the Transaction Resol...

Antrim Energy Inc. (TSX:AEN)(AIM:AEY) is a Canadian, Calgary based junior oil
and gas exploration and production company with assets in the UK North Sea and
Ireland. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London
Stock Exchange's Alternative Investment Market (AEY). ("Antrim" or the
"Company"), announced today that Institutional Shareholder Services, Inc.
("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis"), two leading independent
proxy advisory firms have both recommended that Antrim shareholders vote FOR the
proposed special resolution to approve a sale of Antrim's subsidiary, Antrim
Resources (N.I) Limited ("ARNIL") ("The Transaction") at the Special Meeting of
Shareholders to take place at 3 p.m (Calgary Time) on April 4th 2014.


ISS summarized its recommendation FOR the Transaction as follows: "The asset
sale transaction makes strategic sense as it enables the Company to realize
value for some of the assets." and "This sale is designed to enable a full
settlement of all liabilities. No distribution is planned and there is no impact
on the share price."


Glass Lewis summarized its recommendation FOR the Transaction as follows: "In
late August of 2013, the Company formally engaged its financial adviser to begin
a broad solicitation process for third parties potentially interested in: (i)
providing financing to the Company; and/or (ii) acquiring the Company's equity
stake in ARNIL, in whole or in part. In all, six parties were allowed to conduct
detailed due diligence on the Company. In late November of 2013, the Company
agreed to negotiate exclusively with First Oil Expro Limited ("First Oil") until
the end of the year, but the two sides could not reach a definitive agreement
within this timeframe. Thereafter, the Company restarted talks with some of the
other previously interested parties and received multiple competing offers.
However, the Company's board ultimately determined that First Oil had made the
best offer, noting that the other offers provided for less consideration to the
Company and/or were believed to be subject to greater execution risks. On
February 7, 2014, the Company and First Oil entered into the share purchase
agreement, with the Company issuing a press release that day announcing the
deal.


In our view, the rationale behind the proposed transaction is relatively
straightforward. The Company is currently in a financial bind, as the
development of the Causeway Field has not gone the way that management and the
board had previously hoped. If the proposed transaction is not completed, the
board states that the Company's ability to pursue other business opportunities
will be severely limited due to the current restrictions imposed by the various
debt and hedging agreements. The board also believes that there would be a
significant risk that its lender would act on its security arrangements, which
would likely leave shareholders with little or no value for their Antrim shares.
Conversely, with the proposed sale, the Company will receive a significant
infusion of cash that will be used to settle all of its outstanding debt
obligations, while still leaving the Company with approximately $17.0 million to
$18.0 million for working capital purposes."


And "Based on these factors and the unanimous support of the board, we believe
that the proposed transaction is in the best interests of the Company and its
shareholders. Accordingly, we recommend that shareholders vote FOR this
proposal."


The meeting of the shareholders of Antrim (the "Special Meeting") to consider
the proposed Divestiture will be held at Bankers Hall Auditorium, 335 - 8th
Avenue S.W., Calgary, Alberta on Friday, April 4, 2014 at 3:00 p.m. (Calgary
time). The record date for voting at the Special Meeting is February 21, 2014.


The Board of Directors unanimously recommends voting FOR the Transaction
Resolution, and has determined that the Transactions in the best interests of
Antrim Shareholders.


Your vote is important regardless of the number of common shares of Antrim you
own. Shareholders who have questions or require assistance in voting their proxy
may direct their inquiry to Antrim's proxy solicitation agent, CST Phoenix
Advisors, toll-free in North America at 1-800-311-0721 or by email at
[e-mail]. 


The Company may utilize Broadridge's QuickVote system, which involves
non-objecting beneficial owners of Common Shares being contacted by Phoenix,
which is soliciting proxies on behalf of management of the Company, to obtain
voting instructions over the telephone and relaying them to Broadridge (on
behalf of the Shareholder's intermediary). While representatives of Phoenix are
soliciting proxies on behalf of management of the Company, which is recommending
that Shareholders vote in favour of the transaction resolution, Shareholders are
not required to vote in the manner recommended by management. The QuickVote
system is intended to assist Shareholders in placing their votes; however, there
is no obligation for any Shareholder to vote using the QuickVote system, and
Shareholders may vote (or change or revoke their votes) at any other time and in
any other applicable manner described in this Information Circular. Any voting
instructions provided by a Shareholder will be recorded and such Shareholder
will receive a letter from Broadridge (on behalf of the Shareholder's
intermediary) as confirmation that his/her/its voting instructions have been
accepted.


How to Vote 

Due to essence of time, Antrim shareholders are urged to vote today using the
methods below.


Registered shareholders

Shareholders who have physical certificates representing Antrim shares, may vote
by Mail or Fax.


Mail: Complete, date and sign the enclosed proxy form and mail to: 



CST Trust Company                                                           
Attn: Proxy Department                                                      
P.O. Box 721,                                                               
Agincourt, Ontario, M1S 0A1                                                 



FAX: Complete, date and sign the enclosed proxy form and return it by fax to
1-416-368-2502.


Non-registered shareholders

Shareholders who hold their shares through a broker or other intermediary may
vote via the internet at www.proxyvote.com or following the other instructions
found on the voting instruction form.


Internet: Visit www.proxyvote.com and enter your 12 digit control number located
on the enclosed voting instruction form. 




Telephone:    Canadian - Call 1-800-474-7493                                
              U.S - Call 1-800-454-8683                                     



And provide your 12 digit control number located on the enclosed voting
instruction form. 




Fax:      Canadian - Fax your voting instruction form to 1-905-507-7793 or  
          toll free to 1-866-623-5305 in order to ensure that your vote is  
          received before the deadline.                                     
                                                                            
Mail:     DATA PROCESING CENTRE                                             
          PO BOX - 2800 STN LCD                                             
          MALTON                                                            
          Mississauga, ON                                                   
          L5T2T7                                                            



Cautionary Note and Forward-Looking Statements

This press release contains certain forward-looking statements with respect to
the Company. These forward-looking statements, by their nature, require the
Company to make certain assumptions and necessarily involve known and unknown
risks and uncertainties that could cause actual results to differ materially
from those expressed or implied in these forward-looking statements.
Forward-looking statements are not guarantees of performance. These
forward-looking statements, including financial outlooks, may involve, but are
not limited to, comments with respect to the Company's business or financial
objectives, its strategies or future actions, its targets, expectations for
financial condition or outlook for operations and future contingent payments.
Words such as "may", "will", "would", "could", "expect", "believe", "plan",
"anticipate", "intend", "estimate", "continue", or the negative or comparable
terminology, as well as terms usually used in the future and the conditional,
are intended to identify forward-looking statements. Information contained in
forward-looking statements is based upon certain material assumptions that were
applied in drawing a conclusion or making a forecast or projection, including
management's perceptions of historical trends, current conditions and expected
future developments, as well as other considerations that are believed to be
appropriate in the circumstances. The Company considers these assumptions to be
reasonable based on information currently available to it, but cautions the
reader that these assumptions regarding future events, many of which are beyond
its control, may ultimately prove to be incorrect since they are subject to
risks and uncertainties that affect the Company and its business.


The forward-looking information set forth herein reflects the Company's
expectations as at the date of this press release and is subject to change after
such date. The Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, other than as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Antrim Energy Inc.
Stephen Greer
President & CEO
+ 1 403 264-5111
[e-mail]


Antrim Energy Inc.
Anthony Potter
Chief Financial Officer
+ 1 403 264-5111
[e-mail]


RFC Ambrian Limited
Sarah Wharry
[phone]


Buchanan
Tim Thompson/Tom Hufton
[phone]
[e-mail]


Antrim's Proxy Solicitation Agent
CST Phoenix Advisors
1(800) 311-0721 (toll-free)
[e-mail]