Anterra to Acquire 52.5% Interest in Swan Hills Devonian Reef Project

Anterra Corporation

Anterra Corporation has entered into an agreement to acquire a 52.5% working interest and become operator in a Swan Hills Devonian Reef project in the Macleod area of Alberta.

Anterra has executed a farm-in agreement to acquire a fifty two and one half (52.5%) percent working interest in two sections of land in Township 55 Range 14W5M and 12.5 square miles of 3-D seismic in the Macleod area. After project payout, Anterra's working interest will reduce to thirty one and one half (31.5%) percent. A well on the lands was recently drilled and cased to 2,450 meters by the operator. Anterra will earn its interest in the project by deepening the well to 3,200 meters and testing the Swan Hills Devonian Reef formation. The Macleod project lies four miles northeast of the Rosevear Beaverhill Lake 'A' Pool which has produced 169 BCF of gas and six miles north of the Rosevear Beaverhill Lake 'B' Pool which has produced 160 BCF of gas. The 3-D seismic over the MacLeod structure defines a pool of similar geographical extent. The re-entry, which is scheduled for 2007, is anticipated to cost $700,000.

Anterra Corporation is an emerging energy company with a focus on the exploration and exploitation of oil and gas reserves and the development of associated fee-based projects in western Canada. Anterra is a public Canadian company listed on the TSX Venture Exchange under the symbol ATR and currently operates through its two wholly owned subsidiaries; Anterra Resources Inc. and Anterra Midstream Inc.