CTI Caiterra International Energy Corp

CaiTerra International Energy Corporation (the "Company") (TSX VENTURE:CTI)
announces that it intends to complete a non-brokered private placement financing
(the "Financing") of up to 20,000,000 units (each, a "Unit") of the Company at a
price of $0.10 per Unit for total proceeds of up to $2,000,000. Each Unit will
be comprised of one common share of the Company and one common share purchase
warrant. Each common share purchase warrant will be exercisable into one common
share of the Company at an exercise price of $0.15 per share for two years from
the date of issuance.


Proceeds from the Financing are expected to be used for general working capital.
Finder's fees in the amount of up to 7% of the gross proceeds of the Financing
may be paid in connection with the Financing.


All of the securities issued in connection with the Financing will be subject to
a four month hold period from the closing date under applicable securities
legislation. Completion of the Financing will be subject to a number of
conditions including the approval of the TSX Venture Exchange. 


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 


A Note Regarding Forward-Looking Information

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" occur.
Forward-looking information in this press release includes, but is not limited
to, statements regarding the Company's intention to complete a non-brokered
private placement financing, the proposed use of proceeds and the payment of
finder's fees. Although the Company believes that the expectations reflected in
the forward-looking information are reasonable, there can be no assurance that
such expectations will prove to be correct. Such forward-looking statements are
subject to risks and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the statements
including, without limitation, the risks that the private placement may not be
completed as expected or at all, that the TSX Venture Exchange may not approve
the private placement and such other factors beyond the control of the Company.
Except as required by law, the Company expressly disclaims any obligation, and
does not intend, to update any forward-looking statements or forward-looking
information in this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CaiTerra International Energy Corporation
Craig Robson
Chief Executive Officer and Director
(778) 329-9629

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