Anterra Energy Announces Q3-2013 Results

Anterra Energy Inc. (TSX VENTURE:AE.A)(OTCQX:ATERF) ("Anterra" or the "Company")
is pleased to announce financial and operating results for the three and nine
months ended September 30, 2013. Selected information as outlined below should
be read in conjunction with the Company's unaudited consolidated financial
statements and related management discussion and analysis available on SEDAR at
www.sedar.com or the Company's website at www.anterraenergy.com.


"Throughout 2013, we have made significant progress towards building our
reserves and production base, as evidenced by the Terrex and recently announced
Nipisi property acquisition," stated Gang Fang, President and CEO. "With
expected improving cash flow, available bank lines, access to capital and
technical support from our strategic industry partner, we believe the Company is
positioned to pursue an aggressive and also prudent growth strategy into 2014."


Operations

Results for the third quarter of 2013 include the operations of Terrex Energy
Inc. ("Terrex"), acquired on March 14, 2013. The inclusion of Terrex operating
results is the major contributor to the increase in sales volumes and revenue
over the third quarter of 2012. On a quarter over quarter basis, Q3 2013
production of 406 boe/d was relatively consistent with Q2 2013 production of 427
boe/d. Revenue for Q3 2013 increased approximately 10% over that of Q2 2013 as a
result of higher realized oil prices.


Oil and gas operating expenses during the third quarter of 2013 also increased
significantly over 2012 as a result of the Terrex acquisition. Q3 2013 operating
costs totaled $1,566,638 or $41.97/boe compared to $588,044 or $32.84/boe in the
same period last year. This per barrel increase is primarily due to the higher
overall operating costs associated with the Terrex properties. As compared to Q2
2013, Q3 2013 operating costs, on a boe basis, decreased by 9.4% as a result of
reduced remediation work at Strathmore and Two Creek during the quarter.


The Company reported losses of $584,159 and $818,613 respectively for the three
and nine months ended September 30, 2013 as compared to losses of $46,189 and
$386,668 for the comparable periods in 2012. Increased revenues in 2013,
including the $1,192,666 gain recognized on the Terrex business combination,
were more than offset by increased expenses. Higher than normal general and
administrative and operating expenses, particularly during the second quarter,
were largely the result of onetime costs associated with the Terrex acquisition.
General and administrative and operating costs for the third quarter of 2013
decreased $421,967 from those in the second quarter of 2013.


Funds from operations for the three and nine months ended September 30 2013 were
$226,689 and $142,590 respectively as compared to funds from operations of
$366,600 and $976,328 for the comparable periods in 2012. Funds from operations
for Q3 2013 were $226,689, an increase of $624,546 over Q2 2013 negative funds
flow of ($397,857). The quarter over quarter improvement in funds from
operations, reflects increased revenue and reduced operating and general and
administrative expenses during the quarter.


Outlook

With the acquisition of Terrex during the first quarter of 2013, Anterra added
two new development areas, Strathmore and Two Creek. These areas are in addition
to the Company's Cardium project at Buck Lake and its Belly River development
property at Bretton. Each of these four properties presents the Company with
differing and unique opportunities and potential. The Company will add an
additional development area with the closing of the Nipisi acquisition announced
in the Company's News Release of November 26, 2013.


Anterra is currently preparing a comprehensive corporate development plan based
upon a thorough technical and economic review and evaluation of each of these
focus properties. The Company is working closely with, and has entered into a
longer term technical support arrangement with LandOcean Energy Services Co.,
Ltd. ("LandOcean"), in conducting property evaluations and in preparing a
comprehensive development plan which it expects will be completed by year-end.
Plans for 2014 will be announced at that time. LandOcean is a Beijing
headquartered, international service corporation that provides geological,
geophysical, reservoir and other technical services to the oil and gas industry
worldwide.


Financial and Operating Results



                                 Three Months Ended     Nine months ended  
                                    September 30,         September 30,    
                                      2013       2012       2013       2012
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Production                                                                 
Light crude oil (bbls/d)               283        133        260        162
Natural gas (mcf/d)                    652        338        639        362
NGLs (bbls/d)                           14         10         17         11
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Total production (boe/d)               406        199        384        233
Total production (boe)              37,327     17,907    104,797     63,276
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Revenue                                                                    
Light crude oil ($)              2,469,024    994,222  6,147,499  3,680,272
Natural gas ($)                    211,956     78,466    648,826    238,161
NGLs ($)                            80,802     45,530    270,755    179,754
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Gross revenue ($)                2,761,782  1,118,218  7,067,080  4,098,187
Royalties ($)                      539,162    154,780  1,153,829    752,263
Operating expenses ($)           1,566,638    588,044  4,235,949  1,977,189
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Net operating revenue ($)          655,982    375,394  1,677,302  1,368,735
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Average Prices                                                             
Light crude oil ($/bbl)              94.83      83.06      86.61      83.83
Natural gas ($/mcf)                   3.53       2.58       3.72       2.43
NGLs ($/bbl)                         62.73      50.59      58.34      60.30
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Netback                                                                    
Combined realized prices                                                   
 ($/boe)                             73.99      62.45      67.44      64.77
Royalty costs ($/boe)                14.44       8.64      11.01      11.89
Operating costs ($/boe)              41.97      32.84      40.42      31.25
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Operating netback ($/boe)            17.57      20.96      16.01      21.63
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Midstream Processing                                                       
Revenue ($)                        766,095    719,561  2,189,194  2,006,399
Operating costs ($)                359,490    242,704    921,366    732,698
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Operating netback ($)              406,605    476,857  1,267,828  1,276,668
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Reader Advisories

Neither the 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.


Forward-Looking Information

This News Release contains forward-looking statements or information
(collectively referred to herein as "forward-looking statements") regarding
Anterra's ability to improve cash flow, access capital and continue to build its
asset base and increase production (including the completion of the Nipisi
acquisition). This News Release also contains forward-looking statements
regarding the completion of a comprehensive development plan by year end.


The forward-looking statements contained in this News Release are based on
Anterra management's current beliefs as well as assumptions made by, and
information currently available to, Anterra management concerning anticipated
business conditions; the ability of the Company to implement its business
strategy including exploration and development plans; and the availability and
cost of financing.


Forward-looking statements are not guarantees of future performance and the
reader should not place undue reliance on these forward-looking statements as
there can be no assurances that the assumptions, plans, initiatives or
expectations upon which they are based will occur. In addition, the
forward-looking statements are subject to known and unknown risks, uncertainties
and other factors that could cause the actual results, performance or
achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by forward-looking statements.
Such factors include, among others: general economic and business conditions;
the price of and demand for oil and natural gas and their effect on the
economics of oil and gas exploration; actions by governmental authorities; and,
changes in government regulations and the expenditures required to comply with
them (including, but not limited to, the changes in taxes or the royalty or
other share of production taken by governmental authorities). Should one or more
of these risks or uncertainties materialize, or should any of the Company's
assumptions prove incorrect, actual results may vary in material respects from
those projected in the forward-looking statements. Readers are cautioned that
the foregoing list of risks, uncertainties and other factors is not exhaustive.
Unpredictable or unknown factors not discussed could also have material adverse
effects on forward-looking statements. The impact of any one factor on a
particular forward-looking statement is not determinable with certainty as such
factors are dependent on other factors, and the Company's course of action would
depend on its assessment of the future considering all information then
available. All forward-looking statements in this News Release are expressly
qualified in their entirety by these cautionary statements. Except as required
by law, the Company assumes no obligation to update forward-looking statements
should circumstances or management's estimates or opinions change.


BOE Conversion

Certain natural gas volumes have been converted to barrels of oil equivalent
("boe") using six thousand cubic feet ("mcf") of gas equal to one barrel ("bbl")
of oil unless otherwise stated. This conversion ratio is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. Such disclosure of boes may
be misleading, particularly if used in isolation.


Non-IFRS Measures

This News Release includes the following non-IFRS financial measure: funds from
operations and netback. Further information respecting the non-IFRS financial
measures used by the Company is contained in the Company's management discussion
and analysis available on SEDAR.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Anterra Energy Inc.
Gang Fang
Chief Executive Officer
[phone]
[phone] (FAX)
[e-mail]
www.anterraenergy.com


Anterra Energy Inc.
Owen C. Pinnell
Chairman
[phone]
[phone] (FAX)
[e-mail]
www.anterraenergy.com