Exploration for Oil and Gas in Tasmania -- Terra Energy & Resource Technologies Takes a New Direction
12 Janvier 2010 - 1:00PM
Marketwired
Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), a
natural resource exploration services technology company, announces
that the Company has initiated a new strategic direction for
exploration for oil and gas in Tasmania.
"We believe that Tasmania is a prospective for oil and gas. Our
technological advantage in exploration of frontier areas, enhanced
with the Australian partner relationship formed in 2009 with
Terralinna Pty Ltd, has presented the Company with a significant
opportunity to undertake exploration in Tasmania," said Dmitry
Vilbaum, Chief Executive Officer of Terra Energy & Resource
Technologies. "Together with Terralinna and two other accomplished
local partners, we have already established an Australian entity,
Terra Tasmania Resources Pty Ltd with a strong board of directors
and a strategy to pursue exploration licenses and opportunities in
Tasmania. Terra has targeted Tasmania as a potential exploration
area due to its stable political environment, established logistics
and infrastructure and underexplored license blocks. STeP® and
other Terra technologies are especially applicable in an unexplored
frontier basin where there is potential for untapped oil and gas
reserves."
"Terra has decided to diversify from the pure services model
into natural resources. To that effect, we have launched the Terra
Diversified Drilling project for farming opportunities in the US
and are now adding exploration of Tasmania," said Dr. Alexandre
Agaian, Terra Energy & Resource Technologies' President. "The
Terra Technology Suite will enable the Company and its partners to
substantially shorten the expense and time of exploration in
Tasmania, reducing the early exploration stage financial exposure
to a minimum. Our prospecting technologies should virtually
eliminate the exploratory guess work and answer a long standing
question on oil prospectivity of the island, adding major value to
traditional geological and geophysical efforts in Tasmania."
About Terra Energy & Resource Technologies, Inc.
Terra Energy & Resource Technologies, Inc., through its
subsidiary Terra Insight Services, Inc., provides mapping and
analysis services for exploration, drilling, and mining companies
related to natural resources found beneath the surface of the
Earth. The Company uses a suite of innovative and efficient
technologies, which facilitate the prediction and location of
commercially viable deposits of hydrocarbons, gold, diamonds, and
other natural resources, and assesses them for any given geographic
area -- on or offshore. For more information, visit
http://www.terrainsight.com.
Safe Harbor for Forward-looking Statements
This press release may contain forward-looking information
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and is subject
to the safe harbor created by those sections. There are many
factors that could cause the Company's expectations and beliefs
about its operations, its plans to acquire interests in exploration
properties or technologies, plans to drill or drilling results to
fail to materialize, including, but not limited to: competition for
new acquisitions; availability of capital; unfavorable geologic
conditions; prevailing prices for oil, natural gas and other
natural resources; and general regional economic conditions.
For More Information, Please Contact: Terra Energy &
Resource Technologies, Inc. 212-286-9197 Email Contact
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