Dr. Gang Fang reports

ANTERRA ENERGY ANNOUNCES THIRD QUARTER 2015 FINANCIAL AND OPERATING RESULTS

Anterra Energy Inc. has released its financial and operating results for the three and nine months ended Sept. 30, 2015. Selected information presented in the attached table should be read in conjunction with the company's unaudited financial statements and related management discussion and analysis filed with the Canadian regulatory authorities and available on SEDAR and on the company's website.

Operations

• Continuing low crude oil prices experienced during 2015 had a major negative impact on the company's overall 2015 performance. Production revenue, excluding the impact of risk management commodity contracts, for the nine months ended Sept. 30, 2015, decreased 55 per cent to $7.2-million from $16.1-million for same period in 2014, primarily as a result of a 44-per-cent reduction in realized average commodity prices. For the nine months ended Sept. 30, 2015, realized commodity prices averaged $49.79 per barrel of oil equivalent, compared with $88.76 per barrel of oil equivalent during the comparable period in 2014.
• The company's mid-stream operations, primarily at Breton, continued to generate strong revenue and cash flow. Revenue of $2.7-million for the nine months ended Sept. 30, 2015, was virtually the same as revenue for the comparable period in 2014. However, due to lower operating costs, funds generated by mid-stream operations (determined as revenues less direct operating expenses), increased 26 per cent to $1.6-million for the period, as compared with $1.3-million for the nine months ended Sept. 30, 2014.
• Production for the nine months ended Sept. 30, 2015, averaged 530 barrels of oil equivalent per day, a decrease of 20 per cent compared with 664 barrels of oil equivalent per day for the same period in 2014. As a result of quality adjustments, blending charges and trucking costs, production from the company's Two Creek property became uneconomical at the current low prices and remained shut in since the beginning of March, 2015.
• During the second quarter of 2015, insurance claims totalling $2.4-million, relating to spill cleanup and remediation costs incurred and expensed in 2014 and 2015, were approved by the company's insurer, and the company recorded a net cost recovery of $1.5-million for the nine months ended Sept. 30, 2015.
• In addition to the contribution from mid-stream activities and the recovery of spill cleanup and remediation costs, overall company operations were positively impacted by risk management contracts, which resulted in a realized gain of $825,261 during the nine months ended Sept. 30, 2015.

                    SUMMARY OF FINANCIAL AND OPERATING RESULTS
  
                                       Three months ended               Nine months ended     
                                 Sept. 30,       Sept. 30,       Sept. 30,       Sept. 30,       
                                     2015            2014            2015            2014 
Financial (unaudited)
Oil and gas sales               1,949,838       4,701,942       7,198,959      16,072,863
Mid-stream revenue                833,449         816,456       2,684,066       2,667,156
Funds flow from
operations (1)                   (108,190)        100,012         769,801       2,598,509
Per share basic
and diluted                       (0.0002)         0.0002           0.002           0.005
Realized risk
management  gain                   81,432               -         825,261               -
Net income (loss)              (1,241,321)     (2,354,633)     (1,252,838)     (2,319,407)
Per share basic
and diluted                        (0.002)         (0.005)         (0.003)         (0.005)
Capital expenditures               50,263       2,283,374         127,447       3,924,972
Net debt (1)                   22,997,324      20,791,680      22,997,324      20,791,680
Net debt to annualized
funds flow (1)                     22.4:1           6.0:1          22.4:1           6.0:1
Property, plant and
equipment                      63,570,846      73,102,544      63,570,846      73,102,544
Exploration and
evaluation assets                 386,667         386,667         386,667         386,667
Shareholder equity             16,379,961      31,366,970      16,379,961      31,366,970
Operating
Average production
Light and medium
crude oil (bbl/d)                     368             515             437             570
Natural gas (mcf/d)                   204             341             274             407
NGLs (bbl/d)                           27              25              47              26
Boe/d                                 429             598             530             664
% oil and NGLs                        86%             86%             82%             86%
Average realized price
Light and medium crude
oil (per bbl)                       54.09           94.07           55.78           96.92
Natural gas (per mcf)                3.00            4.27            2.99            5.33
NGLs (per bbl)                      12.01           47.42           24.71           55.70
Oil and gas field
netback (1) per boe
Oil and gas sales                   49.40           85.42           49.79           88.76
Realized risk
management gain                      2.06               -            5.71               -
Royalties                            6.65           21.54            6.57           21.60
Operating and
transportation
expense                             42.63           54.95           39.93           46.43
Field netback                        2.18            8.93            9.00           20.73
Mid-stream net
operating revenue                 499,317         351,418       1,652,414       1,314,506
   
(1) Funds flow from operations, net debt, net debt to annualized funds flow and 
    field netback are non-GAAP (generally accepted accounting principles) measures. 

Financing

Anterra also announces that it will not be proceeding with the proposed financing arrangement with Addchance Holdings Ltd. initially announced in a news release issued on Aug. 10, 2015.

We seek Safe Harbor.