Anterra Energy Inc.
TSX VENTURE : AE.A
TSX VENTURE : AE.B

Anterra Energy Inc.

October 15, 2008 21:38 ET

Anterra Announces Second Closing of Private Placement

CALGARY, ALBERTA--(Marketwire - Oct. 15, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A)(TSX VENTURE:AE.B) is pleased to announce that the Company has closed the second tranche of its previously announced $2 million flow-through financing (the "Offering").

Through the Offering, an aggregate of 5,166,025 Class A shares were issued on a flow-through basis at $0.30 per share for gross proceeds of $1,549,807.50. The 2,933,000 Class A shares issued today are subject to a hold period under applicable securities laws of four months, expiring on February 16, 2009. Of the shares issued today, an aggregate of 70,000 shares were issued to directors of Anterra. Proceeds will be used to incur Canadian Exploration Expenses, which will be renounced in favour of the subscribers for the 2008 taxation year.

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 resource projects. Complementing this strong resource exploitation 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 www.anterraenergy.com.

This news release contains forward-looking information related to the planned drilling program, production and operating costs. These statements are based on current expectations that involve a number of risks and uncertainties that could cause actual results to differ from those anticipated. These risks include, but are not limited to, risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates in relation to reserves, production and expenses; and health, safety and environmental risks). Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in the company's securities should not place undue reliance on them.

37,335,065 Class A Shares

753,014 Class B Shares

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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