Exterra Energy Inc.
OTC Bulletin Board : EENR

Exterra Energy Inc.

July 08, 2008 09:15 ET

Exterra Energy Appointments John Punzo as CEO

HOUSTON, TEXAS--(Marketwire - July 8, 2008) - Exterra Energy Inc. (OTCBB:EENR) is pleased to announce that its board of directors has named John Punzo as the Company's Chief Executive Officer effective July 8th, 2008. In addition to taking over as CEO, Mr. Punzo was also appointed to the Company's Board of Directors and will serve as the Chairman of the Board.

Mr. Punzo is a seasoned management executive with more than 12 years of experience in the public and private resource industry. He has served as President and founding director of several publicly-traded resource companies, where he has assembled teams of experienced professionals, along with accounting, financial and legal advisors to assist in the growth and development of the companies that he has served.

Effective July 8th, 2008, Ray Ledesma, Exterra's current President & CEO, will resign as CEO and be appointed Chief Operating Officer of the Company.

Mr. Punzo commented, "I am truly excited to have the opportunity to lead Exterra Energy and to work closely with the board, management team and employees to achieve our goals."

About Exterra Energy, Inc.

Exterra Energy Inc. is an emerging oil and gas exploration and production company based in Houston, Texas. Exterra is primarily active in the Barnett Shale gas field in Texas and now holds an undivided interest in approximately 17,500 gross acres of leases in the Newark East (Barnett Shale) area with over fifty wells producing on the acreage. The Company is also active in West Texas with twelve 10-acre oil and gas well sites in Pecos County.

The Company and its representatives may from time to time make written or oral forward-looking statements, including statements contained in the Company's filings with the SEC and in its reports to shareholders. One can identify these forward-looking statements by use of words such as "strategy," "expects," "plans," "anticipates," "believes," "will," "continues," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. One can also identify them by the fact that they do not relate strictly to historical or current facts. These statements are based on our assumptions and estimates and are subject to risks and uncertainties. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Company is hereby identifying important factors that could cause actual results and outcomes to differ materially from those contained in any forward-looking statement made by or on behalf of the Company.

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