Anterra Announces Second Quarter Results and Operations Update

Anterra Energy Inc. (TSX VENTURE:AE.A) (TSX VENTURE:AE.B) ("Anterra" or the
"Company") today reported its financial and operating results for the three- and
six-month periods ended June 30, 2007.


HIGHLIGHTS

- Record funds flow from operations of $453,767 for the quarter, up 175% from
the second quarter 2006 and $753,497 for the first six months of the year, up 75
% from the prior year.


- Average oil and gas sales for the quarter were 260 boepd (65% light oil and
35% sweet gas).


- During the quarter, Anterra drilled two 100% interest oil wells at Breton, one
100% oil well at Frontier and acquired a 100% interest in a producing property
at Sakwatamau, adding a combined 100 boepd of oil production, which will be
reflected in the third quarter.


- June 25, 2007 announcement of bought-deal private placement "flow through"
financing by way of the issuance of 3,518,332 Class A shares at a price of $0.60
per share for gross proceeds of $2.111 million. The financing was fully
subscribed and closed subsequent to the end of the second quarter.


- Completion of the amalgamation of Resolve Energy Inc. and Anterra Corporation
on May 1, 2007.


- Negotiation of $5.75 million credit facility and $1.5 million development
facility with a major Canadian chartered bank.


"We exit the second quarter, poised to embark on the most exciting drilling
program in our history," said Owen Pinnell, Chairman and Chief Executive Officer
of Anterra. "We are about to commence drilling at Judy Creek, targeting oil from
the Swan Hills reef rim. This project follows on the recent success at our
Breton property with the drilling of the two 100%-interest Belly River oil wells
now producing a combined 60 boepd. As this is the first quarter of post-merger
operations, the impact of our business plan will become more evident in the
third and fourth quarters. Subsequent to quarter-end, we completed a $2,111,000
private placement whose proceeds have been applied to working capital, allowing
us to substantially complete our $10 million CAPEX program for the year. Our
bank credit facility of $5.75 million with an additional $1.5 million facility
in reserve is available for future development projects. Going forward, we will
continue to execute on our defined business plan for growth and development in
our core areas, combining high impact exploration along the Devonian reef edge
in central Alberta with lower risk development and exploitation," said Mr.
Pinnell.




FINANCIAL SUMMARY

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                     Three Months  Three Months    Six Months    Six Months
                          June 30,      June 30,      June 30,      June 30,
                             2007          2006          2007          2006
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Oil and Gas Production
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Revenue                 1,443,991     1,271,574     2,602,687     2,553,514
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Royalties                (113,930)     (111,061)     (213,871)     (257,425)
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Gross overriding
 royalties                  3,499         1,517         3,499         5,281
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Net revenue             1,333,560     1,162,030     2,392,315     2,301,370
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Operating costs           497,728       553,143       973,703       953,685
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Oil and gas operating
 margin                   835,832       608,887     1,418,612     1,347,685
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Midstream Processing
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Revenue                   244,796       168,401       540,703       398,690
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Operating costs           190,048       209,532       367,973       471,585
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Midstream operating
 margin                    54,748       (41,131)      172,730       (72,895)
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Other revenue                   -             -             -             -
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Intersegment revenue
 and cost                 (46,080)      (48,773)      (95,041)     (114,226)
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Total Net Revenue       1,532,276     1,281,658     2,837,977     2,585,834
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Total Operating Costs     641,696       713,902     1,246,635     1,311,044
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Total Operating Margin    890,580       567,756     1,591,342     1,274,790
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Expenses
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General and
 administration           371,585       347,120       690,349       664,515
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Stock compensation         76,462         1,880        87,126        49,563
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Interest                   65,228        41,171       147,496        82,591
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Depletion, depreciation,
 accretion                471,358       286,626       834,984       683,497
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Total Expenses            984,633       676,797     1,759,955     1,480,166
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Net Profit (Loss)
 Before Tax               (94,053)     (109,041)     (168,613)     (205,376)
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Provision For Taxes        (5,926)       (6,480)      (32,112)      (29,792)
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Net Profit (Loss)         (88,127)     (102,561)     (136,501)     (175,584)
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Earnings per Class
 A Share
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Basic                      (0.004)       (0.004)       (0.007)       (0.007)
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Fully Diluted              (0.004)       (0.004)       (0.007)       (0.007)
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Weighted Average
 Number of Shares In
 Thousands             20,553,000    25,733,000    18,244,000    25,733,000
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Funds Flow From
 Operations               453,767       172,283       753,497       431,968
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Funds Flow Per Class
 A Share                    0.022         0.007         0.041         0.017
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OPERATIONS REVIEW

Anterra's 2007, $10 million capital program commenced in early May, following
the completion of the Anterra Resolve merger transaction. Despite weather
related delays, the Company executed an aggressive second quarter program,
drilling three 100% working-interest oil wells and completing and interpreting
its $1 million 3-D program. The first oil well at Frontier was placed on
production in early June, while the two Breton oil wells were placed on
production in July, adding a combined 100 bopd of production. Momentum continued
into the third quarter with considerable progress being made on permitting and
surface lease acquisition in both the Judy Creek and Macleod areas.


To facilitate efficient operations, Anterra focuses its activities in core areas
where it can control the land base and infrastructure. At Breton, following the
recent drilling success, the Company produces 275 boepd, owns over 5,000 acres
of contiguous lands and controls the infrastructure. This will be the model that
management will strive to emulate at both Judy Creek and Frontier where
operations remain at an early stage. Undeveloped land is critical to the
Company's ongoing growth and development in its core areas and land inventories
are being added to on a regular basis to enable continuous exploitation of play
types and geological trends, greatly reducing overall exploration risk.


CORE AREA REVIEW

Breton

During the second quarter, Anterra continued development of its 100% working
interest property at Breton with the drilling and completion of two oil wells
and the commissioning of the first phase of the secondary recovery scheme. Both
new wells encountered 11 meters of oil pay and are jointly producing 60 bopd of
light oil, with this rate expected to increase as reservoir pressure builds from
the effects of the enhanced secondary recovery scheme. Over the balance of the
year, the Company plans to convert its dual completed LSD11-23 oil and gas well
into a gas well and re-drill the basal Belly River for oil. These activities are
expected to add a further 100 boepd of oil and gas production, increasing Breton
oil and gas production from 275 boepd to 375 boepd.


Southeast Alberta and southwest Saskatchewan

During the second quarter, Anterra drilled its first 100% working-interest
Shaunavon oil well at Frontier in southwest Saskatchewan and the well has
stabilized at 20 bopd. The Company continues to acquire land and has now
accumulated 1,760 acres over this prospect with six more locations to drill.
Although the wells are not large producers, reserves per location average 75,000
barrels and this long-life production can be improved with a water flood scheme
and the area is accessible throughout the year. One new well at LSD 16-7 and a
re-entry at LSD 8-24 are scheduled for August. At Suffield in southeast Alberta,
the Company has farmed out a 50% interest in its LSD 4-1 Sunburst/Pekisko well
which is also scheduled for drilling in August. Production from the area is
presently 60 bopd.


Judy Creek Area

During the second quarter, Anterra acquired 25 bopd of pipeline connected oil
production at Sakwatamau near Judy Creek. The exploitation and development of
this property includes a Shunda exploration well which will be drilled during
the fourth quarter. Anterra has now accumulated 5,024 net acres over its Judy
Creek high-impact Devonian reef prospect and has completed and interpreted a $1
million 3-D seismic program. The Company has identified four drilling locations
and is actively acquiring surface leases and well licences. It expects to drill
two Swan Hill's reef light oil tests, the first at LSD 9-19, by the end of
September. The Swan Hills reef can be a prolific zone, and this high-impact
prospect has the potential to substantially increase company reserves and
production.


MacLeod and Crooked Lake Area

The Swan Hills reef test well at MacLeod is Anterra's highest-impact project for
2007. The re-entry on this 160 BCF natural gas target is scheduled for the
fourth quarter, subject to final approvals from regulatory bodies. Anterra is
re-entering a cased well and deepening the well bore from 2,400 meters to 3,300
meters and has a 52.5% working interest in the project. At Crooked Lake, Anterra
has acquired four sections of 100% lands and is presently developing its
exploration plan for this property. This is a 2008 project that will require an
extensive 3-D program and the purchase of additional lands over the prospect.


OUTLOOK

Anterra has positioned itself to take advantage of the positive business
environment in the oil and gas sector. Although natural gas prices remain weak,
Anterra is primarily an oil company and is benefiting from the strong price
environment for this commodity.


The Company plans to continue growing its core areas while putting in place the
projects that will be needed to drive growth in the future. Frontier will become
a core area, with management presently developing a plan to acquire more land
and to exploit the low-risk reserves in the region. Management is also pursuing
several new prospects on Company lands at Breton and Sakwatamau, while
continuing to pursue the development of high impact exploration projects along
the Swan Hills reef edge.


Anterra's 2007 second quarter consolidated financial statements and related MD&A
are available on Anterra's website at www.anterra.org as well as on the SEDAR
website at www.sedar.com.


Funds flow from operations is not a recognized measure under Canadian generally
accepted accounting principles (GAAP). However, management believes that funds
flow from operations is a useful measure of financial performance. For the
purposes of funds flow from operations calculations, funds flow is defined as
"Funds flow from operations" before changes in non-cash operating working
capital. Anterra's determination of funds flow from operations may not be
comparable to that reported by other companies.


In this press release, the calculation of barrels of oil equivalent (boe) is
calculated at a conversion rate of 6,000 cubic feet (mcf) of natural gas for one
barrel (bbl) of oil based on an energy equivalency conversion method. Boes may
be misleading particularly if used in isolation. 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.


Anterra Energy Inc. ("Anterra" or the "Company") 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.anterra.org.


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.


26,360,606 Class A Shares

753,014 Class B Shares