Exterra Energy, Inc (fka EENIQ)

[joelu]

NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!! NEWS!!!


Exterra Energy, Inc. is Negotiating to Retain an Investment Banker to Assist with Current Merger Candidates
AMARILLO, Texas--(BUSINESS WIRE)--Exterra Energy, Inc., (OTCBB: EENI) announced today that it is in the process of negotiating with the hiring of an Investment Banking Firm to assist The Company with its current merger negotiations.

“The appropriate Merger Candidate would be a successful Oil and Gas Exploration and Production (E & P) Company with greater Oil and Gas assets, revenues, and earnings. This candidate would also further enhance Exterra with industry management, technical and field Professionals with proven expertise that will enhance shareholder value.”
Robert Royal, Chairman of Exterra, said, “The appropriate Merger Candidate would be a successful Oil and Gas Exploration and Production (E & P) Company with greater Oil and Gas assets, revenues, and earnings. This candidate would also further enhance Exterra with industry management, technical and field Professionals with proven expertise that will enhance shareholder value.”

Mr. Royal commented further, “The planned merger would increase Exterra’s Oil & Gas Assets, revenues and earnings that current Management believes would take Exterra to the next level, and qualify The Company’s intent to list its shares on the NYSE/AMEX Stock Exchange. In addition, management believes that a successful merger with the appropriate merger candidate would qualify Exterra to successfully negotiate with certain Investment Banking Firms, to raise capital, both registered and private placements, which have shown an interest in Exterra in the past.”

Management welcomes inquires from private Oil & Gas E & P Companies with intentions to merge with a fully reporting publicly traded Oil & Gas E & P Company. Management has been contacted by qualified merger candidates. Management and the Candidates are currently performing their due diligence while continuing to negotiate a fair deal for all parties involved.

Management’s past plans have been to acquire producing Oil & Gas Mineral leases, Oil and Gas Wells and equipment, with engineered reserves utilizing Exterra’s credit facility. Management is highly confident this plan to merge with a larger private company with quality Oil & Gas Assets is the perfect way to acquire the best assets and develop Exterra’s current and future assets.

About Exterra Energy, Inc.

Exterra Energy, Inc. (OTCBB: EENI) 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. Please visit our web site at www.exterraenergyinc.com.

insert-text-here