Anterra Energy Inc To Complete Financing

Anterra Energy Inc announced that it has signed a term sheet for a private placement financing of $7 million comprised of 107,692,308 Anterra Shares to be issued at a price of $0.065 to LandOcean Energy Services Co., Ltd., a Beijing-based international oilfield services company (LandOcean), a party at arm's length to both Anterra and Terrex. As a condition to the closing of the private placement, LandOcean shall have the right to appoint two additional directors to the board of directors of Anterra. Anterra has agreed to pay a finder's fee and issue 1,000,000 broker's warrants, exercisable for Anterra Shares at a price of $0.10 for a period of 2 years, in connection with the private placement.