Oil and gas exploration and production company Antrim Energy has signed a second contract for a drilling rig to be used as part of its planned 2008 drilling program in the UK North Sea.

The contract will provide Antrim with the Transocean semi-submersible drilling rig. This is in addition to the drilling contract previously announced for the Fyne field, which is scheduled to commence in the first quarter of 2008.

The new contract, scheduled to start in June 2007, is for four wells at a rate of $0.3 million per day and will be managed by AGR Peak Well Management.

The drilling contract will allow Antrim to accelerate appraisal activity on the company’s existing properties in the northern and central North Sea and is also expected to provide Antrim with the flexibility to add additional drilling opportunities to its 2008 program.