CALGARY, ALBERTA, August 27, 2009
Anterra Energy Inc. (“Anterra” or the “Company”) today released its financial and operating results for the three months and six month periods ending June 30, 2009. The full text of the Company’s unaudited interim financial statements and related management's discussion and analysis ("MD&A") can be found at: www.sedar.com and on the Company’s website at www.anterraenergy.com.

HIGHLIGHTS

• Funds flow from operations for the quarter of $25,315 reflected an improvement on the negative ($143,458) in the first quarter but was significantly lower than the $690,022 reported in the second quarter of 2008. The effect of stronger oil prices during the quarter was offset by reduced gas prices and declines in production. The average commodity price for the quarter was $48.62/boe compared to $38.76/boe in the first quarter and $100.62/boe in the second quarter of 2008.

• Average production for the quarter of 177 barrels of oil equivalent per day (boepd) compared to average production of 184 boepd in the first quarter of 2009, and 225 boepd in the second quarter of 2008.

• Net loss was $439,964 for the quarter compared to a loss of $52,764 for the same quarter a year earlier. Net loss for the six month period ended June 30, 2009 was $985,945, compared to a loss of $33,771 for the same period in 2008.

• The midstream business delivered second quarter operating margin of $131,628, compared to $101,246 for the same period in 2008.

At current prices, funds flow from operations is expected to be minimal in the third quarter.

OUTLOOK

Anterra continues to see improvement in its working capital with over $1 million in creditor settlements finalized to date. Funds flow remains minimal as demonstrated in the second quarter due to the difficulty in maintaining production with limited free cash available for maintenance and well improvements. Management continues to work with the Company’s lender with the bank credit line currently established at $5.25 million; however the Company remains in default of its credit facility due primarily to its working capital deficit currently estimated at approximately $1 million. Management is negotiating a forbearance agreement with its lender.

1 The Company continues to pursue development of its 10,000 acres of Lower Shaunavon lands in SW Saskatchewan. There is no value attributed to these lands either in the Company’s reserve report or in the market value of the Company’s shares. Management continues to target the drilling of at least one horizontal well on these lands prior to year end 2009. The $1 million required to fund this project will

need to be raised through the sale of equity or through industry or financial partnerships. Despite difficult industry conditions combined with financial difficulties for the Company, the board of

directors and management are confident that the Company’s focus on pursuing resource projects in Saskatchewan will eventually provide a pathway to value recognition for Anterra shareholders. The

Company appreciates the continued support of its major shareholders who recently invested a further $400,000 in a small equity offering of the Company’s shares.

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.

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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.