CaiTerra International Energy Corporation announced that changes and additions have been made to its board of directors and management team as follows: The directors of CaiTerra announced that Mr. Songning Shen, M.Sc., P.Geol, of Calgary, Alberta, has accepted invitations to join the board of directors and assume the position of Chief Executive Officer of the company. Mr. Shen brings years of successful experience in the petroleum industry having first trained in China and later in Norway. His career and early acclaim started in 1986 when working with Bohai Co., he was credited with the discovery of the biggest offshore China oil pool.

Upon moving to Canada in 1998, Mr. Shen was employed by Petro-Canada and Nexen, before becoming an oilsands exploration manager for Connacher Oil and Gas Ltd. and oilsands consultant for Koch Exploration Canada LP. In addition, Mr. Steve Deniels of Richmond, B.C. has also agreed to join the company as a director and a member of the Audit Committee. Mr. Deniels brings over 20 years of respected financial management and investment experience in both private and publicly traded companies in China and abroad.

Further, a Board of Advisors has been formed to assist the directors and management team in developing and achieving corporate objectives. To this end, Mr. Xiang Pu has volunteered to step down as a director in order to take up the position of Chairman of the Board of Advisors. Management would like to acknowledge and thank Mr. Pu for his insight and contributions to date and looks forward to working with him and his advisory board team in the future.