Exterra Energy Inc. Announces New Stock Symbol as EENI.ob

AMARILLO, TX, May 11 (MARKET WIRE) --
Exterra Energy Inc. (OTCBB: EENI) announced today that we began trading
under our new stock symbol EENI.ob, which was issued by the NASDAQ.
Issuing a new symbol was the final step in completion of agreement for
the acquisition of certain mineral leases with proven undeveloped oil and
gas reserves in the Newark East (Barnett Shale) Gas Field of North Texas,
in consideration of the payment of 5,603,577 shares of restricted common
stock of the Company

Todd R. Royal, President of Exterra Energy Inc., stated, "I am very
excited about the future of Exterra Energy with our most recent
acquisition consisting of mineral leases with proven undeveloped oil and
gas reserves. The Engineering Firm of Harper and Associates has
identified 6 PUDS, on the leases, in Parker and Jack Counties, Texas.
With these recently acquired assets, we will improve the company balance
sheet significantly and immediately begin our development and acquisition
roll up strategy of acquiring under valued oil and gas assets to increase
shareholder value." Mr. Royal went on to state: "The value of the
properties acquired was based upon the discounted value of the proved
undeveloped reserves done by a third party, Harper and Associates, and
the trading price of the Company's shares."

Robert Royal, Chairman and CEO, commented, "Our strategy for the company
in the public markets is to improve the company's balance sheet through
development of the Company's mineral assets and strategic acquisitions of
undervalued properties, by using our assets, equity marketing, commercial
banking relationships to improve earnings per share and move the public
company to a senior exchange."

About Exterra Energy, Inc. EENI.OB is an emerging oil and gas exploration
production company based in Amarillo, Texas, with a Field Office in
Parker, County, Texas. Exterra is committed to a strong acquisition
strategy purchasing producing oil properties that are undervalued due to
current market conditions. Exterra is primarily active in the development,
acquisition and operations of oil & gas properties, including the Newark
East (Barnett Shale) Gas Field in North Texas and now holds an undivided
interest in approximately 17,750 gross acres of leases in the Newark East
(Barnett Shale) area with over 63 wells producing on the acreage. The
Company is also active in Permian Basin West Texas with mineral acres,
producing oil and gas wells, wells being put online and chemically
treated, a new Saltwater Disposal Facility, a 12 mile gas gathering
system and a new gas contract with Panther Pipeline and Southern Union
that will increase production in Pecos County. The Barnett Shale gas
field is undoubtedly one of the largest producing gas fields in the
continental U.S. today, and Exterra is committed to developing and
expanding its acreage and assets within the core area of the field.
Exterra is further committed to increasing its oil assets by acquiring
additional producing oil wells in the Permian Basin in West Texas, as
well as; other areas. Exterra's strategic plan is to take advantage of
the opportunity that exists in the oil industry today by acquiring, under
valued producing oil wells, since many in the Oil Industry are heavily
leveraged.

The Company and its representatives may from time to time make written or
oral forward-looking statements, including statements contained in the
Company's filings with the SEC and in its reports to shareholders. One can
identify these forward-looking statements by use of words such as
"strategy," "expects," "plans," "anticipates," "believes," "will,"
"continues," "estimates," "intends," "projects," "goals," "targets" and
other words of similar meaning. One can also identify them by the fact
that they do not relate strictly to historical or current facts. These
statements are based on our assumptions and estimates and are subject to
risks and uncertainties. In connection with the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995, the Company is
hereby identifying important factors that could cause actual results and
outcomes to differ materially from those contained in any forward-looking
statement made by or on behalf of the Company.

INVESTOR RELATIONS
Kelly Black
CEO Premier Media Services Inc.
T: (866) 216-8814
1046 E. University Dr.
Mesa, AZ 85203
E: kblack@premiermediaservice.com

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