Anterra Energy Inc.

Anterra Energy Inc.

July 20, 2009 14:17 ET

Anterra Energy Announces Initial Closing of Private Placement

CALGARY, ALBERTA--(Marketwire - July 20, 2009) - Anterra Energy Inc. (TSX VENTURE:AE.A) (TSX VENTURE:AE.B) ("Anterra" or the "Company") announces that it closed the first tranche of a private placement of up to $1,500,000 (the "Private Placement") of Units. Each Unit is priced at $0.15 and is comprised of one (1) Class A Share priced at $0.05 per share and one (1) Flow-Through Class A Share of the Company (the "Flow Through Shares") priced at $0.10 per share. The initial closing resulted in the receipt by the Company of gross proceeds of $400,011 from the sale of 2,666,740 Class A Shares and 2,666,740 Flow-Through Shares. The Company also advises that it is accepting additional subscriptions and will complete a second closing on or before August 23, 2009. The Units are being sold to fund the Company's exploration and development activities and for working capital purposes. The Company has also agreed to pay Finder's Fees of 8% cash and 8% broker warrants to non-related parties. All securities issued pursuant to the Private Placement are subject to final approval from the TSXV and subject to a four month hold pursuant to applicable securities legislation.

About Anterra Energy

Anterra Energy is an independent exploration, development and production company with an emerging focus on the use of advanced technologies including 3-D imaging, horizontal drilling and multi-stage completions to systematically develop its portfolio of conventional and non-conventional oil and gas projects. Complementing this strong exploitation and development focus, the Company owns and operates fee-based midstream facilities in western Canada.  Anterra is a public Canadian company listed on the TSX Venture Exchange under the symbols AE.A and AE.B. More information about Anterra is available on the internet at

Reader Advisory:

This news release may contain certain forward-looking statements, which include assumptions with respect to (i) production; (ii) future capital expenditures; (iii) funds from operations; (iv) cash flow; and (v) debt levels. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and natural gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

43,334,878 Class A Shares

753,014 Class B Shares

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information