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MINNETONKA, Minn., May 16, 2011 /PRNewswire/ -- Ante5, Inc. (ANFC - News) ("Ante5" or the "Company") announced oil and gas production and revenue for first quarter 2011. During the quarter ended March 31, 2011, Ante5 reported revenues of $96,940. At quarter end, Ante5 had a working interest in 7 producing wells representing approximately 6% of a net well and an additional 12 wells representing approximately 57% of a net well that were preparing to drill, drilling, awaiting completion, or completing.

First full quarter that Ante5 was in the North Dakota oil & gas business.

Revenues for the first quarter of 2011 were $96,940.

Production volumes for the first quarter of 2011 were 1,254 barrels of oil equivalent ("BOE").

First quarter 2011 production consisted of approximately 93% crude oil and 7% associated natural gas and other liquids.

Ante5's average realized crude oil sale price for the first quarter 2011 was $81.84 per barrel.

Production expenses for the first quarter 2011 were $4.48 per BOE on an accrued basis.

Depletion expense for the first quarter was $36,148, or $28.83 per BOE.

As of March 31, 2011, Ante5 had interests in a total of 19 gross (0.63 net) Bakken / Three Forks wells that were preparing to drill, drilling, awaiting completion, completing or producing.

Ante5 acquired approximately 1,974 net acres during the quarter targeting the Bakken and Three Forks formations in North Dakota.

As of March 31, 2011, Ante5 had a cash balance of $5,672,338 million.

Bradley Berman, Chief Executive Officer of Ante5, commented: "It is hard to imagine that Ante5 has only just finished its first full quarter in the oil and gas business. The Company purchased its first North Dakota mineral lease in November of 2010. During the first quarter 2011, we significantly ramped up our acreage acquisition and development activity and achieved a 100% success rate in all wells drilled." ..... MORE