Time to Invest in U.S. Onshore Oil & Gas Prospects -- Terra Energy & Resource Technologies Initiates a New Investment Strategy, Leveraging Its Breakthrough Technology
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o Terra Energy Resource Technologies, Inc.
Press Release Source: Terra Energy & Resource Technologies, Inc. On Wednesday February 3, 2010, 7:00 am EST
NEW YORK, NY--(Marketwire - 02/03/10) - Terra Energy & Resource Technologies, Inc. (OTC.BB:TEGR - News), a natural resources exploration technology company, is launching Phase II of its long-term business plan -- leveraging its technology to build a superior portfolio of oil & gas production and reserves in the United States. It is anticipated that the initiative will be significantly accretive to Terra's revenues and earnings. Terra Diversified Drilling, LLC ("TDD"), a wholly owned subsidiary of the Company, will acquire a minority interest in U.S., non-operated oil & gas prospects on a "farm-in" basis. The Company will invest into highly graded oil & gas drilling prospects through TDD, seeking profits from the production and sale of hydrocarbons.
The TDD strategy will achieve remarkable diversification by investing in drill-ready, non-operated prospects, sponsored by U.S. E&P companies, spread across several geographic regions and various well depths. The Company projects to participate in 200+ prospects over 10 years.
Terra's technology suite answers many of the critical questions required to drill for hydrocarbons with confidence. The prospect selection process will be based on the industry's best geological and geophysical practices coupled with Terra's unique, innovative, and proprietary technologies that include the satellite-based Sub Terrain Prospecting Technology (STeP?), the geochemical method of Naturally Adsorbed Gas Survey (NAGS) and the unique seismic technology of Side View Seismic Locator (SVSL). Terra expects to significantly increase the economic success of its oil and gas investments and generate above-average cash flows and reserves.
"Our technological advantage drives our competitive edge. The most significant contributing factor in the business of oil and gas exploration is the drilling success rate, which directly correlates with how accurately geological and geophysical experts and methods predicted any given drilling location. TDD will utilize the Terra Technologies and a set of strict criteria during the prospect selection process to significantly increase the success rate and therefore substantially improve the TDD project's economics, as compared with industry norms," said Dr. Alexandre Agaian, Terra Energy & Resource Technologies' President. "TDD plans to build a high-quality portfolio that yields enough excess cash flow to reinvest in new prospects, significantly augmenting the total number of prospects drilled and reserves generated. We intend to give priority to TDD, because TDD's strategy has a highest profit potential for Terra and its shareholders."
"Over the next several years, TDD will use its technological competitive advantage to pick quality oil and gas prospects in North America and commit funding to them. TDD will invest as a minority interest owner ("farm-in basis") in scores of drilling prospects that meet strict criteria and are managed by proven sponsors/operators. The anticipated result will be the creation of a high income portfolio of oil and gas wells with extraordinary diversification. Prospect selection will be optimized using Terra's proprietary technological screening process which includes several independent technologies. Terra's process incorporates unique scientific methods which are commercially unavailable in the exploration industry today. The methods apply innovative analytics and sophisticated algorithms using data sourced from satellite imagery, soil samples on the surface and seismic data from the subsurface. The strategy will essentially pick the best drill-ready prospects available and then limit prospect selection to the 'best of the best,'" said Dmitry Vilbaum, Chief Executive Officer of Terra Energy & Resource.
There are thousands of new exploratory wells drilled in the United States each year, with even more farm-in wells offered to industry participants by "farm-ors." Generally, during difficult economic times, the number of quality prospects seeking capital increases. Based on Terra's recent survey of the market through industry sources, it is finding there is an abundant and excellent opportunity available presently. Terra will screen all prospects, grade them and choose the best for investment.
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, or its 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.
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Terra Energy & Resource Technologies, Inc.
212-286-9197
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