CALGARY, ALBERTA – January 10, 2011. Anterra Energy Inc. (“Anterra” or the “Company”) announces that it has recently completed the drilling, fracing and completion of its previously announced horizontal well in Section 17‐45‐5‐W5M located in the Pembina (Buck Lake) area of Alberta. The Company undertook testing operations from December 19, 2010 to January 6, 2011, during which time it recovered all of the load fluid and subsequently achieved testing rates of approximately 1,497 barrels of oil per day and 1.9 million cubic feet of natural gas per day for an aggregate production rate of 1,816 BOE/d of field production, ending on January 6, 2011 with a flowing pressure of 3700 kpa. The test results are not indicative of long term production levels. Anterra has now taken over facility tie in operations and is currently in the process of equipping the well for production and anticipates that these activities will be completed within 30 days. Anterra holds a sixty (60%) percent working interest in the well and the balance of Section 17. The Company has additional horizontal drilling opportunities on its lands in the Pembina Buck Lake area which complement its recent drilling success.
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:
Chief Executive Officer
Telephone: (403) 215‐2383
Facsimile: (403) 261‐6601
Owen C. Pinnell
Telephone: (403) 215‐2427
Facsimile: (403) 261‐6601
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 capitalfrom 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.Filed under: 2011