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Terrace Energy Corp. (TCRRF)

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Last Post: 3/24/2014 10:11:35 AM - Followers: 1 - Board type: Free - Posts Today: 0



Terrace Energy Corp. engages in the exploration and production of oil and gas reserves in the onshore United States. Its primary projects
include the South Texas Syndicate-Olmos project covering approximately 14,000 acres located in McMullen and LaSalle Counties, Texas; and
the Cutlass-Eagle Ford project covering approximately 3395 acres in Dimmitt and LaSalle Counties, Texas. The company was formerly
known as Terrace Resources Inc. and changed its name to Terrace Energy Corp. in June 2011. Terrace Energy Corp. was incorporated
in 2006 and is headquartered in Vancouver, Canada.

TCRRF

Terrace Energy Corp.


PAL: Merriman Capital, Inc.

 
  OTCQX International

TSX.V: TZR.V

                                                                                                                                        
TCRRF Security Details
Share Structure
Market Value1 $85,963,485 a/o Jan 07, 2013
Shares Outstanding 63,069,321 a/o Nov 30, 2012
Float 38,380,000 a/o Nov 30, 2012
Authorized Shares Unlimited a/o Nov 30, 2012
Par Value No Par Value
Shareholders
Shareholders of Record Not Available
Non US Stock Exchange Listing
TZR/P - TSX Venture Exchange - Qualified
Short Selling Data
Short Interest (%)
Significant Failures to Deliver No
Transfer Agent(s)



Suite 270, 666 Burrard Street
Vancouver, BC V6C 2X8
Canada
Website: http://www.terraceenergy.net/
Phone: 604 687-0888
Email: terrace@terraceenergy.net







                                                                                                

corporate profile


Terrace Energy Corp. is an oil & gas exploration and production company focused on onshore, US oil drilling opportunities.

Our activities are currently focused on the prolific South Texas Cretaceous plays including the Olmos Tight Sandstone and the Eagle Ford Shale plays. Our two major projects, The STS (Olmos) project and the Cutlass (Eagle Ford) project are currently under development. The initial test well in the STS Project IP'd at over 600 BOPD. The two subsequent wells recently IP'd at over 765 BOEPD and 1020 BOEPD respectively. Drilling on the Cutlass Project has commenced. Initial results are expected in first quarter, 2013. Both projects contain multiple, repeatable drilling locations as well as additional target horizons slated for future evaluation. Additional projects are under evaluation in similar play areas in Texas.



 

South Texas Cretaceous Play

 
                                                                                                                                                                                                                                                                                                       
The Upper Cretaceous sequence in the Rig Grande Embayment of South Texas has been a prolific oil and gas producing region with nearly 500 million barrels of oil and over 2 trillion cubic feet of gas produced to date. The area is part of the Smackover-Austin-Eagle Ford Composite Total Petroleum System as defined by the US Geological Survey. The potentially productive intervals, from youngest to oldest, include the Escondido and Olmos formations of the Navarro Group, the San Miguel and Ancacho formations of the Taylor Group, as well as the Austin Chalk, Eagle Ford Shale, Buda and Edwards Limestones. Oil and gas were generated in the total petroleum system at different times because of variations in depth of burial, geothermal gradient, lithology, and organic matter composition. From the source rocks, oil and gas migrated upsection and updip along a pervasive system of faults and fractures as well as along bedding planes and within sandstone units.

Recent technological advances in drilling and completion techniques, notably advances in horizontal drilling and hydraulic fracturing technology, have created a renaissance within the region as previously uneconomic reserves are being commercially developed by use of new technology.

For more information on the regional geology and recent developments in the South Texas Cretaceous Plays, please visit our links page.

South Texas Location Map South Texas Stratigraphic Column

 


 

                                                                               

projects

Terrace Project Locator Map

Terrace Project Locator Map

STS Olmos map

Cutlass Acreage Illustration

Asset Overview

Terrace currently has two active development projects, The South Texas Syndicate - Olmos Sandstone Development and The Cutlass - Eagle Ford Development, both located in the oil window of the South Texas Cretaceous play.

South Texas Syndicate - Olmos Project

Terrace holds an average 27% working interest in approximately 14,000 acres located in McMullen and LaSalle Counties, Texas. The project is a southwesterly extension of the prolific AWP Field which has produced nearly 500 MMBOE from the Olmos Sandstone since its discovery in the early 1980's. Our first well into the project, the STS 1-667H encountered the Olmos "C" sand at approximately 8900' and drilled approximately 4,100' of horizontal section. The well was fracture stimulated in 14 stages with 3 million pounds of proppant and 101,975 barrels of slickwater in early February and tested at sustained rates above 600 BOPD. Permanent facilities are installed and that well is on commercial production. The two subsequent wells recently IP'd at over 765 BOEPD and 1020 BOEPD respectively. The next phase of the program will focus on optimizing capital efficiency by systematically drilling development wells on a grid pattern beginning the first quarter of 2013.  Based on existing spacing, the project has the potential for up to 72 additional locations.

Cutlass - Eagle Ford Project

Terrace holds a 30% working interest in 3395 acres in Dimmitt and LaSalle Counties, Texas. The project is surrounded by active development in the Eagle Ford oil window by several major oil companies. Recent developments in the immediate vicinity (less than 5 miles) have resulted in multiple horizontal completions in excess of 1000 BOEPD. In addition to the obvious Eagle Ford potential, previous drilling on the acreage dating back to the 1960's indicates the entire Cretaceous section from the Austin Chalk through the Edwards Lime is prospective. The company has drilled two strategically placed evaluation wells which tested the entire Cretaceous section. The initial two-well evaluation program is currently underway with production expected in early 2013.

 
 

 

 
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TCRRF News: Amended Application for Qualification of Trust Indentures (t-3/a) 05/11/2016 03:40:32 PM
TCRRF News: Application for Qualification of Trust Indentures (t-3) 04/12/2016 05:15:48 PM
TCRRF News: Terrace Reports On Production Development Activities 11/10/2014 08:00:00 AM
TCRRF News: Terrace announces completion of convertible note exchange 10/16/2014 08:00:00 AM
TCRRF News: Terrace announces completion of convertible note exchange 10/16/2014 08:00:00 AM
PostSubject
#12   Good productive leases, many more wells to drill. Ag Boy 03/24/14 10:11:35 AM
#11   I see where they just released some news stonehorse 04/13/13 02:08:55 PM
#10   Hanging tough.. SCREAMING EAGLE 03/28/13 09:01:03 AM
#9   Not well known ...yet. SCREAMING EAGLE 03/07/13 10:16:32 AM
#8   This has potential with their liquids rich focus SCREAMING EAGLE 02/28/13 01:18:59 PM
#7   Nice reserves and production in the Eagle Ford Shale. SCREAMING EAGLE 02/28/13 01:17:27 PM
#6   I like the fact they building a position SCREAMING EAGLE 02/28/13 01:15:06 PM
#5   Some very nice land packages to develop. SCREAMING EAGLE 02/28/13 01:14:04 PM
#4   Mon Jan 7 to Fri Jan 11 up 3.05% Anty_Jr 01/12/13 12:04:58 PM
#3   Share Structure Anty_Jr 01/08/13 07:26:53 AM
#2   What's the share structure here? Their quarterly report BiotechGuy49 01/07/13 07:11:49 PM
#1   www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=97613 [ta Anty_Jr 01/07/13 10:43:14 AM
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