CTI Caiterra International Energy Corp

CaiTerra International Energy Corp. ("CaiTerra" or the "Company") (TSX
VENTURE:CTI) is pleased to announce that it has entered into a letter agreement
to acquire the undeveloped petroleum and natural gas rights in the Faust Area in
north central Alberta from First Mountain Exploration Ltd. ("First Mountain")
(TSX VENTURE:FMX). The purchase price for the assets is $2.5 million in cash, of
which the Company has already paid a $250,000 initial deposit.


Completion of the transaction contemplated under the letter agreement is subject
to the execution of a mutually acceptable definitive agreement which First
Mountain and the Company have agreed to execute on or before October 5, 2012.
Once executed, the definitive agreement shall be posted on the Company's profile
at www.sedar.com. Completion of the transaction is also subject to satisfactory
due diligence to be conducted by the Company and the necessary approval from the
TSX Venture Exchange.


CaiTerra intends to explore and develop the Faust land, which are directly on
trend with the Mooney Bluesky producing oilfield to the east.


Cautionary Statements

Completion of the transaction is subject to a number of conditions, including
but not limited to, TSX Venture Exchange acceptance and shareholder approval.
The transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the transaction will be completed as
proposed or at all. Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared in connection
with the transaction, any information released or received with respect to the
transaction may not be accurate or complete and should not be relied upon. The
TSX Venture Exchange Inc. has in no way passed on the merits of the proposed
transaction and has neither approved nor disapproved the contents of this press
release.


A Note regarding Forward Looking Information

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "will", "expects", "believe", "plans", "potential" and similar
expressions are intended to identify forward-looking statements or information.
More particularly and without limitation, this press release contains forward
looking statements and information concerning the Company's plans to negotiate
the purchase of certain of assets from an independent third party. The Company
cautions that there are no assurances or guarantees that the negotiations will
result in a transaction or purchase of assets. 


Although the Company believes that the expectations and assumptions on which
such forward looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and information
because the Company can give no assurance that they will prove to be correct.


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These include, but are not limited to, the risks
associated with the oil and gas industry in general such as operational risks in
development, exploration and production; delays or changes in plans with respect
to exploration or development projects or capital expenditures; the uncertainty
of reserve and resource estimates; the uncertainty of estimates and projections
relating to reserves, resources, production, costs and expenses; health, safety
and environmental risks; commodity price and exchange rate fluctuations;
marketing and transportation; loss of markets; environmental risks; competition;
incorrect assessment of the value of acquisitions; failure to realize the
anticipated benefits of acquisitions; ability to access sufficient capital from
internal and external sources; changes in legislation, including but not limited
to tax laws, royalties and environmental regulations, actual production from the
acquired assets may be greater or less than estimates; failure to obtain the
necessary regulatory approval, stock exchange and other regulatory approvals on
the timelines planned.. Management has included the above summary of assumptions
and risks related to forward looking information provided in this press release
in order to provide security holders with a more complete perspective on the
Company's future operations and such information may not be appropriate for
other purposes.


The forward-looking statements and information contained in this press release
are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or information, whether
as a result of new information, future events or otherwise, unless so required
by applicable securities laws.

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