Exterra Names Punzo New CEO, Chairman of the Board

Exterra Energy Inc. has named John Punzo as the Company's Chief Executive Officer effective July 8, 2008. In addition to taking over as CEO, Punzo was also appointed to the Company's Board of Directors and will serve as the Chairman of the Board.

Punzo is a seasoned management executive with more than 12 years of experience in the public and private resource industry. He has served as President and founding director of several publicly-traded resource companies, where he has assembled teams of experienced professionals, along with accounting, financial and legal advisors to assist in the growth and development of the companies that he has served.

Effective July 8, 2008, Ray Ledesma, Exterra's current President & CEO, will resign as CEO and be appointed Chief Operating Officer of the Company.

Punzo commented, "I am truly excited to have the opportunity to lead Exterra Energy and to work closely with the board, management team and employees to achieve our goals."