Anterra Energy Inc.

Anterra Energy Inc.

November 23, 2009 18:51 ET

Anterra Energy Announces Closing of Financing and Director Changes

CALGARY, ALBERTA--(Marketwire - Nov. 23, 2009) - Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A) (TSX VENTURE:AE.B) announced today that it closed the balance of the first $3,000,000 tranche of its previously announced $15,000,000 private placement. In the closing today, the Company received $2,650,000 and issued 35,333,334 Class A Shares to Alliance Success Holding Group Limited ("Alliance"). The funds received today are in addition to the $350,000 of proceeds received from Alliance on October 6, 2009. Alliance is incorporated in Hong Kong, is an investment holding company focused on developing resource assets including minerals, oil and gas and is owned and controlled by Hong Lei, Zhen Xiang Huo and Jialong Gong. Anterra paid finder's fees of $90,000 and 466,667 warrants to each of Research Capital Corporation and ISTDC Canada Inc. in the two closings. The shares issued today are subject to a four month hold period. Anterra anticipates that it will close the balance of the $15,000,000 private placement in the next few weeks.

In conjunction with the closing of the first tranche of the Alliance private placement and pursuant to the clearance of personal information forms by the TSX Venture Exchange ("TSXV"), Anterra has appointed three new directors to its Board of Directors effective as of this date. The three new directors are nominees of Alliance and are Gary Chang, Hong Lei and Zhen Xiang Huo. The Board of Directors will continue to include current directors Owen C. Pinnell, James H. Coleman, Ross O. Drysdale and J. Ronald Woods.

About Anterra Energy

Anterra Energy is an independent exploration, development and production company with an emerging focus on the use of advanced exploration 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 TSXV under the symbols AE.A and AE.B. More information about Anterra is available on the Company's website at

Reader Advisory:

This news release contains certain forward-looking statements, which include assumptions with respect to financing plans. 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, the ability of the Company to reach settlement with certain of its creditors, 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, and stock market volatility. 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.

86,957,892 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.

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