Anterra Energy Inc. (TSX VENTURE:AE.A) ("Anterra" or the "Company") today
provides an update on operational activities for 2012 with additional comments
on certain financial matters. 


OPERATIONS AND CORPORATE UPDATE 

Anterra advises that it recently completed the work over and stimulation of its
45% working interest horizontal Pekisko oil well at Matziwin LSD 04-15-023-14W4.
A successful stimulation will lead to the drilling of a 100% interest horizontal
Pekisko well on the same property prior to the end of the second quarter of
2012. 


At Breton, the Company is continuing to work on the regulatory approval for the
first of several horizontal Belly River oil wells planned for the property. Upon
receipt of regulatory approval, the Company will begin drilling which is
presently scheduled for the second quarter of 2012. Anterra has 5,000 acres of
contiguous land at Breton. 


At Buck Lake, the Company obtained a surface lease for two additional 60%
working interest horizontal Cardium wells on the property. To date, the two
horizontal Cardium wells on the property produced a combined 104,000 barrels of
oil equivalent (BOES) and continue to produce at a combined average 175 BOEPD.
Subject to regulatory approval, management plans to begin drilling the third 60%
interest well before the end of the third quarter of 2012. 


Anterra advises that effective December 28, 2011, KPMG LLP was appointed auditor
for the Company, replacing Deloitte & Touche LLP who acquired AJM Petroleum
Consultants Ltd. late in 2011, the Company's independent reserves engineers. For
additional information, please see the reporting package respecting the change
in auditor filed on SEDAR.


DISCLOSURE CORRECTIONS 

Anterra also advises that, as a result of a continuous disclosure review
conducted by the Alberta Securities Commission, the Company has determined that
there have been errors in the Company's financial statements for the first,
second and third quarters of 2011. The errors occurred in the measurement of
depletion expense and share based payment expense, due to certain costs not
being included. The result of the errors is that the net income in the quarters
reported was overstated by the following amounts:




                                 Q1 2011     Q2 2011     Q3 2011       Total
                            ------------------------------------------------
Depletion expense                221,519    $210,034    $242,800    $674,353
Share based payment expense            -           -     $12,232     $12,232
Decrease in net income          $221,519    $210,034    $255,032    $686,585



The corrected calculations will be reflected in the Company's financial
statements for the year ended December 31, 2011.


About Anterra Energy 

Anterra Energy is an independent exploration, development and production company
with an emerging focus on the use of advanced exploration technologies including
3-D imaging, horizontal drilling and multi-stage completions to systematically
develop its portfolio of conventional and non-conventional oil and gas projects.
Complementing this strong exploitation and development focus, the Company owns
and operates fee-based midstream facilities in western Canada. Anterra is a
public Canadian company listed on the TSXV under the symbol AE.A. More
information about Anterra is available on the Company's website at
www.anterraenergy.com.


Reader Advisory:

This news release may contain certain forward-looking statements, including
management's assessment of future plans and operations, and capital expenditures
and the timing thereof, that involve substantial known and unknown risks and
uncertainties, certain of which are beyond the Company's control. Such risks and
uncertainties include, without limitation, risks associated with oil and gas
exploration, development, exploitation, production, marketing and
transportation, loss of markets, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks, competition
from other producers, inability to retain drilling rigs and other services,
delays resulting from or inability to obtain required regulatory approvals and
ability to access sufficient capital from internal and external sources, the
impact of general economic conditions in Canada, the United States and overseas,
industry conditions, changes in laws and regulations (including the adoption of
new environmental laws and regulations) and changes in how they are interpreted
and enforced, increased competition, the lack of availability of qualified
personnel or management, fluctuations in foreign exchange or interest rates,
stock market volatility and market valuations of companies with respect to
announced transactions and the final valuations thereof, and obtaining required
approvals of regulatory authorities. The Company's actual results, performance
or achievements could differ materially from those expressed in, or implied by,
these forward-looking statements and, accordingly, no assurances can be given
that any of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits, including the amount
of proceeds, that the Company will derive therefrom. Readers are cautioned that
the foregoing list of factors is not exhaustive. All subsequent forward-looking
statements, whether written or oral, attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by these
cautionary statements. Furthermore, the forward-looking statements contained in
this news release are made as at the date of this news release and the Company
does not undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable securities
laws.