Anterra Energy Inc.

Anterra Energy Inc.

July 14, 2010 14:44 ET

Anterra Energy Inc: Corporate Developments

CALGARY, ALBERTA--(Marketwire - July 14, 2010) - Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE:AE.A) is pleased to announce that at the special and annual meeting of Anterra shareholders held yesterday, Dr. Gang Fang was appointed a director of the Company. Dr. Gang Fang has extensive international business experience and the Company welcomes Dr. Gang Fang to the Company as a director and also as Chief Executive Officer. Mr. Owen Pinnell remains in the role of Chairman while Mr. Ron Woods did not stand for re-election. The board of directors of the Company would like to take this opportunity to thank Mr. Woods for his efforts on behalf of the Company over the past several years. Bill Johnson remains the Company's President and Chief Operating Officer and Giles Parker continues as Chief Financial Officer. 

The Company also announces that options to acquire an aggregate of 18.5 million Class A common shares have been granted to officers, directors and consultants of the Company at a price of $0.10 per share. In addition, the Company has proposed to issue, subject to regulatory approval, an aggregate of 600,000 Class A common shares at $0.10 per share to two officers of the Company in payment of amounts owed to the individuals.

The Company also updates its operational plans for the year with a focus on the 7 sections of recently acquired Cardium lands in the Pembina area. The board has approved the drilling of the first horizontal Cardium well on these lands and management is scheduling to commence drilling during the third quarter of 2010. Further drilling plans on these lands will be announced following completion of the first well. 

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 symbol AE.A. 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 future operations. 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, volatility of commodity prices, availability of 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, 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.

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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