CALGARY, ALBERTA, March 6, 2009
Anterra Energy Inc. (“Anterra” or the “Company”) announces its reserves for the fiscal year ended December 31, 2008. In accordance with National Instrument 51-101, AJM Petroleum Consultants (“AJM”) independently prepared the Company's AJM Reserve Report (the "AJM Report") which evaluated all of the Company's oil, natural ga and liquids reserves as at December 31, 2008. The Company has filed its statement of reserves data and other oil and gas information pursuant to National Instrument 51-101, which statement is available for public viewing on SEDAR at www.SEDAR.com.

Highlights of Reserve Report

• Anterra’s year-end 2008 net proved reserves decreased 13% to 875,700 boe, compared to 1,011,200 boe at year end December 31, 2007.

• Net proved plus probable reserves decreased 18% to 1,265,600 boe, versus 1,548,600 for the comparable period in 2007.

• Calculations indicate a reserve life index of 11.8 years on a total proven basis and of 16.0 years on a total proven plus probable basis. Reserve life indices are based on AJM’s forecast for 2009 net production rates of 254 boe/d under the proven plus probable case, and 230 boe/d under the proven case.

• Anterra’s discounted cash flow for proved plus probable reserves discounted at 10%, using AJM forecast prices at December 31, 2008 was $27.8 million compared to $31.6 million at December 31, 2007.

• No reserves were assigned by AJM to Anterra’s interest in the new Frontier 15-7 Lower Shaunavon horizontal well, due to the limited production history available at the time of the report.

“Reserve decreases in 2008 were primarily a result of 2008 production, performance related technical reductions on newer vertical wells at Breton and Frontier and the reduction in working interest production associated with the Company's farm-in at Frontier”, said Bill Johnson, President and COO of Anterra. “Proven undeveloped reserves at Sakwatamau were eliminated a the LSD 02-29 gas well was not completed. These reductions were offset somewhat by the addition of gas reserves from the Judy Creek 14-20 well. This years reserve report does not attribute any reserves to resource plays which are now Anterra’s primary focus. The AJM Report specifically excludes recognition of reserves for the Frontier 15-7 horizontal well because of the limited production history. We intend to continue to pursue development of our resource plays during 2009 once economic conditions improve,” continued Mr. Johnson.

The following sets out selected reserve information for the Company as of December 31, 2008. Summary of Company Interest Reserves and Present Values

AJM December 31, 2008 Forecast Pricing

VOLUMES IN IMPERIAL UNITS – BEFORE INCOME TAXES

Oil Sales Gas NGL Present Value Cash Flow

Gross Net Gross Net Gross Net 0% 5% 10% 15%

Reserves Category (MStb) (MStb) (MMcf) (MMcf) (MStb) (MStb) (M$) (M$) (M$) (M$)

Proved Developed Producing

454.8 433.8 1,138.5 849.0 11.9 6.9 27,203 17,199 12,900 10,460

Proved Developed Non- Producing

23.4 22.6 7.7 7.1 0.0 0.0 1,197 944 765 634

Proved Undeveloped

283.3 246.8 162.6 136.5 0.0 0.0 26,100 11,646 6,212 3,579

Total Proved

761.5 703.3 1,308.8 992.6 11.9 6.9 54,500 29,789 19,877 14,673

Probable Additional

398.7 322.1 516.3 393.4 3.7 2.3 38,120 14,781 7,907 5,177

Total Proved + Probable

1,160.2 1,025.4 1,825.1 1,386.0 15.6 9.2 92,620 44,570 27,784 19,850

VOLUMES IN METRIC UNITS – BEFORE INCOME TAXES

Oil Sales Gas NGL Present Value Cash Flow

Gross Net Gross Net Gross Net 0% 5% 10% 15%

Reserves Category (E3M3) (E3M3) (E6M3) (E6M3) (E3M3) (E3M3) (M$) (M$) (M$) (M$)

Proved Developed Producing

72.3 68.9 32.0 23.9 1.9 1.1 27,203 17,199 12,900 10,460

Proved Developed Non-Producing

3.7 3.6 0.2 0.2 0.0 0.0 1,197 944 765 634

Proved Undeveloped

45.0 39.2 4.6 3.8 0.0 0.0 26,100 11,646 6,212 3,579

Total Proved

121.0 111.8 36.8 27.9 1.9 1.1 54,500 29,789 19,877 14,673

Probable Additional

63.4 51.2 14.5 11.1 0.6 0.4 38,120 14,781 7,907 5,177

Total Proved + Probable

184.4 162.9 51.5 39.1 2.5 1.5 92,620 44,570 27,784 19,850

Note: Cash Flows do not include the Alberta Royalty Tax Credit and values may not add due to rounding.

Summary of Pricing Assumptions*

Light and Medium Crude Oil Natural Gas

WTI Cushing Oklahoma ($US/bbl)

Edmonton Par Price 40 0API (Cdn/bbl)

Cromer Medium 29.3 0API ($Cdn/bbl)

AECO Gas Price Average ($Cdn/bbl)

Natural Gas Liquids

Edmonton Propane ($Cdn/bbl)]

Year

2009 $55.00 $65.40 $54.40 $7.00 $42.50 0% 0.82

2010 $76.50 $87.20 $73.70 $8.05 $56.70 3% 0.86

2011 $88.45 $96.50 $82.00 $8.20 $62.75 2% 0.90

2012 $100.80 $104.30 $89.30 $9.00 $67.80 2% 0.95

2013 $108.25 $112.05 $97.05 $9.75 $72.85 2% 0.95

2014 $110.40 $114.25 $99.25 $9.95 $74.25 2% 0.95

2015 $112.60 $116.55 $101.55 $10.15 $75.75 2% 0.95

2016 $114.85 $118.90 $103.90 $10.35 $77.30 2% 0.95

2017 $117.15 $121.25 $106.25 $10.55 $78.80 2% 0.95

2018 $119.50 $123.70 $108.70 $10.75 $80.40 2% 0.95

2019 $121.90 $126.15 $111.15 $10.95 $82.00 2% 0.95

Inflation Rate

* The preceding tables summarize certain information contained in the AJM Report. AJM Petroleum Consultants is an independent qualified

reserves evaluator, appointed pursuant to National Instrument 51-101. Detailed reserves disclosure will be included in the Company’s NI 51-101

report for the year ended December 31, 2008. It should not be assumed that the estimates of future net revenue presented in the tables represent

the fair market value of the reserves. There is no assurance that forecast prices and costs assumptions will be attained. Variances could be

material. The recovery and reserve estimates of crude oil, natural gas liquids and natural gas reserves provided herein are estimates only. There is

no guarantee that the estimated reserve will be recovered. Actual crude oil, natural gas and natural gas liquid reserves may be greater than or less

than the estimates provided herein. The pricing assumptions used in the report with respect to net values of future net revenue (forecast), as well

as the inflation rates used for operating and capital costs, are as indicated above.

Exchange

Rate $US/$Cdn

Operations Update

Effective December 1, 2008, the Company's farm-in partner completed expenditures of $3.5 million to earn a 50% working interest in Anterra's Frontier lands and production. The horizontal well in the Lower Shaunavon has been on production for 75 days. Continuous production has been difficult due to the harsh winter weather and equipment problems which have reduced production hours. Operating difficulties have now been resolved and the Company expects sustained gross production of between 40 to 60 bopd (Anterra 30%) with oil production increasing as water cuts reduce. Further drilling of horizontal wells on the Company’s 9,600 acre land base will be subject to commodity prices and capital availability.

Anterra’s existing agreement to farm-out a Swan Hills test at Judy Creek has been terminated as the partner was unable to fulfill its drilling commitments within the required time frame. Anterra is reviewing its options for this property which is no longer a core asset.

In response to rapidly deteriorating economic conditions in the last quarter of 2008 and early 2009, the Company shut-in marginal wells, reduced operating costs and reduced overhead. These initiatives are expected to reduce operating and administrative expenses by approximately $65,000 per month. Production is expected to be reduced to approximately 205 boepd after shutin of roughly 40 boepd of marginal production. Midstream operations continue to provide cash flow of approximately $50,000 per month. With a revised forecast based on WTI oil prices of $40 US per barrel for oil and $5.00 CDN for gas in 2009, the Company estimates it will break even on monthly funds flow from operations. No capital expenditures are currently planned in light of the current situation. The Company continues to pursue business alternatives that will allow it to strengthen its balance sheet and continue to develop its resource plays.

Other Matters

Anterra announces the resignation of John McGilvary as a director of the Company effective February 28, 2009. The Company would like to thank Mr. McGilvary for his contributions to the Company.

Anterra also advises that the Board of Directors has approved cancellation of all of the Company’s granted and outstanding stock options, subject to consent by all option holders.

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 www.anterraenergy.com.

For further information, please contact:

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 there from. Readers are cautioned that the foregoing list of factors is not exhaustive. A BOE conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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.