CaiTerra International Energy Completes Drilling of Well on the Faust Property in North Central Alberta

CaiTerra International Energy Corporation ("CaiTerra" or the "Company") (TSX
VENTURE:CTI) is pleased to announce that it has completed the drilling of a
title preserving well on its property in the Faust area of north central Alberta
(the "Faust Property"). 


The Faust Property is located just north of the prolific Swan Hills oil field
and west of Black Pearl Resources Inc.'s Mooney producing oil property and south
of the Town of Slave Lake. The lands forming the Faust Property are Crown leases
with varying expiry dates. The Faust Property comprises approximately 18,600
gross acres (approximately 30 gross sections) of lands of interest that are not
subject to expiry for the next 3 years and a further 3,840 gross acres (6
contiguous sections) of lands of special interest that had been continued
through to the end of April 2013. 


By drilling the well, title to the 6 sections of lands of special interest will
be preserved for an additional five years. The drilling was undertaken to not
only hold these 6 sections of land in good standing, but also to test for the
presence of the "Bluesky Sand sweet oil zone" which has been identified as an
economic oil producing zone in the Mooney producing oil property located to the
east of the Faust Property.


The vertical well, which is located on the eastern half of Legal Subdivision
(LSD) 9, Section 4, Township 72, Range 10, West of the 5th Meridian, was drilled
to a total depth of 960 metres and intersected the main Bluesky sand at
approximately 854 metres KB. The well has been logged and cased. CaiTerra and
its 25% working interest partner, Western Lion Resources, will be meeting as
soon as practicable to determine timing of well completion. 


Cautionary Statements

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.


A Note regarding Forward Looking Information

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "will", "expects", "believe", "plans", "potential" and similar
expressions are intended to identify forward-looking statements or information.
More particularly and without limitation, this press release contains forward
looking statements and information concerning the plans and timing for the well
completion. The Company cautions that there are no assurances or guarantees that
the transaction will be completed as proposed or at all. 


Although the Company believes that the expectations and assumptions on which
such forward looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and information
because the Company can give no assurance that they will prove to be correct.


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These include, but are not limited to, the risks
associated with the oil and gas industry in general such as 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 reserve and resource estimates; the uncertainty of estimates and projections
relating to reserves, resources, production, costs and expenses; health, safety
and environmental risks; commodity price and exchange rate fluctuations;
marketing and transportation; loss of markets; environmental risks; competition;
incorrect assessment of the value of acquisitions; failure to realize the
anticipated benefits of acquisitions; ability to access sufficient capital from
internal and external sources; changes in legislation, including but not limited
to tax laws, royalties and environmental regulations, actual production from the
acquired assets may be greater or less than estimates; failure to obtain the
necessary regulatory approval, stock exchange and other regulatory approvals on
the timelines planned. Management has included the above summary of assumptions
and risks related to forward looking information provided in this press release
in order to provide security holders with a more complete perspective on the
Company's future operations and such information may not be appropriate for
other purposes.


The forward-looking statements and information contained in this press release
are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or information, whether
as a result of new information, future events or otherwise, unless so required
by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CaiTerra International Energy Corporation
Craig Robson
Chief Executive Officer and Director
[phone]