Anterra Energy Announces $3.4 million Private Placement



    TSXV Symbol: AE.A and AE.B

    26,365,607 Class A Shares
    753,014 Class B Shares

    CALGARY, Nov. 2 /CNW/ - Anterra Energy Inc. ("Anterra" or the "Company")
is pleased to announce that it intends to complete a private placement of up
to 4,000,000 units ("Units") of Anterra at CAD $0.85 per Unit (the "Offering")
for aggregate gross proceeds of up to CAD $3,400,000. Each Unit consists of
one Class A share ("Share") and one-half of one purchase warrant ("Warrant")
of Anterra. Each whole Warrant will entitle the holder to purchase one Share
at an exercise price of $1.10 per Share for a period of 12 months from the
date of closing of the Offering. Sprott Asset Management Inc. of Toronto as
agent intends to subscribe for 3,529,400 Units of the Offering for gross
proceeds of approximately $3 million. Evergreen Capital Partners Inc. has been
retained as sole exclusive agent on the Offering which is scheduled to close
on or before November 13, 2007.
    Net proceeds of the private placement are expected to be used to fund
further drilling of Anterra's Judy Creek project where the Company recently
announced an oil discovery, as well as for general working capital purposes.
The private placement is subject to all requisite regulatory approvals and the
securities issued pursuant to the private placement will be subject to a
4 month hold period.

    Anterra Energy is an emerging energy company with a balanced portfolio of
high impact exploration and lower risk exploitation projects. Complementing
this strong exploration and development focus, the Company owns and operates
oil and gas production and associated 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 www.anterraenergy.com

    READER ADVISORY

    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved of the
    contents of this news release and does not accept responsibility for the
    adequacy or accuracy of this release.

    This news release contains forward looking information related to the
planned drilling program, production and operating costs. These statements are
based on current expectations that involve a number of risks and
uncertainties, which could cause actual results to differ from those
anticipated. These risks include, but are not limited to, risks associated
with the oil and gas industry (e.g. operational risks in development,
exploration and production; delays or changes in plans with respect to
exploration or development projects or capital expenditures; the uncertainty
of estimates in relation to reserves, production and expenses; and health,
safety and environmental risks). Due to the risks, uncertainties and
assumptions inherent in forward-looking statements, prospective investors in
the company's securities should not place undue reliance on these
forward-looking statements.

    The term BOE or BOEs may be misleading, particularly if used in
isolation. A BOE (barrel of oil equivalent) conversion rate of 6 Mcf per one
(1) BOE is based on an energy equivalency conversion method primarily
applicable at the burner tip and does not represent a value equivalency at the
wellhead.

    %SEDAR: 00025272E




For further information:

For further information: Owen C. Pinnell, Chairman and Chief Executive
Officer, Anterra Energy Inc., Telephone: (403) 215-2427, Facsimile: (403)
261-6601, E-mail: pinnello@anterraenergy.com

Organization Profile

ANTERRA ENERGY INC.

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