Anterra Energy Inc.

Anterra Energy Inc.

July 22, 2009 14:26 ET

Anterra Energy Announces Settlement With Creditors

CALGARY, ALBERTA--(Marketwire - July 22, 2009) - Anterra Energy Inc. (TSX VENTURE:AE.A) (TSX VENTURE:AE.B) ("Anterra" or the "Company") announces that it has entered into Settlement Agreements with certain of its creditors whereby the Company will issue settlements comprised of cash, debentures and Class A Shares of the Company. The creditors will receive the cash component based upon 20% of the monies owing to the creditor. The debentures will be redeemable, subordinated and unsecured debentures with a 5% yield and a term expiring on July 31, 2011. Subject to final approval of the TSX Venture Exchange, the Company will issue up to 5,000,000 Class A Shares of the Company at a deemed price of $0.10 per share in satisfaction of 25% of its outstanding obligation to a creditor. In the Settlement Agreements, the Company is removing approximately $1,800,000 of negative working capital from its balance sheet.

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; (v) debt levels and (vi) working capital. 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.

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