NEW YORK, Aug. 6, 2012 /PRNewswire/ -- Terra Energy &
Resource Technologies, Inc. (Pink: TEGR), a natural resource
exploration technology company has been granted a second phase
services contract by Transportadora de Gas del Sur S.A. (TGS), a
major Argentine gas transportation company operating one of the
longest gas pipelines in South America. According to the
contract, Terra is to utilize its innovative satellite-based
methodology on a limited distance of TGS's pipeline to identify
conditions and risk factors which could lead to pipeline
malfunction. The second contract is in furtherance of the
original agreement entered in 2011.
"Last year, Terra surveyed a short distance of the pipeline and
demonstrated to TGS its capabilities. TGS is a serious,
well-run organization which is proceeding in a methodical manner to
validate Terra's ideas. TGS performed excavation work to test
Terra's prognosis and further understand the applicability of our
technologies for assisting TGS in meeting its pipeline maintenance
goals," said Dmitry Vilbaum, CEO of
Terra Energy & Resource Technologies. "Upon its evaluation of
the phase one results, TGS found useful many of the parameters
derived by Terra's analysis awarded us with a second phase contract
to survey another distance of the pipeline."
Dr. Alexandre Agaian, President
of Terra Energy & Resource Technologies, stated: "Many large
pipelines are rapidly aging. The pipeline diagnostics and
preventive maintenance has not evolved in any meaningful way over
the past two decades. For most companies, satellite surveying
of pipelines is a new concept. We were happy to learn that
TGS strives for innovation, constantly looking for ways to
modernize the surveying process and improve the overall pipeline
health. The synergies which were developed between TGS and
Terra in the first phase have resulted in this repeat business for
Terra. We hope to keep performing well for TGS because TGS
has 9,000 kilometers of pipe to maintain and this represents a
significant opportunity for Terra. Moreover, with continued
confirmation on TGS's pipeline, Terra will seek to leverage its
success with other pipeline companies."
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 contains 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, services, plans, projects, and contracts, and
its plans or proposals to acquire interests in, or participate in,
exploration activities or properties, to fail to materialize,
including, but not limited to, availability of capital, negotiation
and execution of definitive agreements, satisfaction of contractual
requirements, unfavorable geologic conditions, the amount of
reserves projected or ultimately discovered, and general regional
economic conditions.
For more information, please contact:
Terra Energy & Resource Technologies, Inc.
212-286-9197
info@terrainsight.com
SOURCE Terra Energy & Resource Technologies, Inc.
