Terra Energy & Resource Technologies Inc. (TEGR)

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Press Release Source: Terra Energy & Resource Technologies, Inc.


Terra Energy & Resource Technologies, Inc. Delivers STeP(R) Analysis Report to International Oil and Gas Exploration Company
Monday November 20, 3:26 pm ET
Company Has 20% Working Interest in 1,000,000 Acre Project in Eastern Turkey


NEW YORK--(BUSINESS WIRE)--Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR - News), an energy technology company that combines satellite-based technology with traditional exploration services, announced today that its wholly-owned subsidiary Terra Insight Corporation (TIC), delivered its first stage STeP report on a 1,000,000 acre oil and gas exploration project in Eastern Turkey, pursuant to a service contract with Calik Enerji Sanayi ve Ticaret, A. S. The agreement provides for the Company to receive a 20% working interest in the project, in addition to its undiscounted rates to be paid out of future revenues of the project. Under the contract, TIC is providing studies of the area of interest, for identification of prospective drilling sites and mapping of hydrocarbon anomalies using proprietary STeP technology.
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"We are pleased that such a large company as Calik Enerji has recognized the value that our STeP technology can contribute to improvement of exploration success. STeP offers a new dimension, a new differentiating view of the hydrocarbon potential and location, not yet available to most companies," said Roman Rozenberg, Terra Energy & Resource Technologies' Chief Executive Officer. "With the delivery of our first stage STeP report, we expect to strengthen the relationship with Calik Enerji and to further demonstrate the ability of STeP technology to significantly enhance the exploration process via improved accuracy and cost/time efficiency. We are optimistic that STeP will be instrumental in locating hydrocarbon anomalies. We anticipate that leading oil and gas exploration companies will increasingly recognize the important role of our STeP technology in exploration for oil and gas as well other minerals off or on shore and without depth limitations."

About Terra Energy & Resource Technologies, Inc.

Terra Energy & Resource Technologies, Inc., through its wholly owned subsidiary, Terra Insight Corporation, provides mapping, surveying, and analytical services to exploration, drilling, and mining companies. The Company primarily uses the STeP technology, which facilitates the prediction and location of commercially viable deposits of hydrocarbons, gold, diamonds, and other natural resources. It manages and interprets geologic and satellite data to develop the assessment of natural resources. Through the Company's wholly owned affiliate, Terra Resources, Inc., the general partner in three limited partnerships we control, the Company owns leases for oil and gas parcels totaling more than 16,000 acres of land in the Rail Road Valley and White River Valley areas of Nevada, and participation in leases in East Texas and in South Texas for purposes of utilizing its STeP technology in oil and gas exploration and development activities. We also own a minority interest in a diamond exploration project under development by a much larger company on more than 1,000 square kilometers in Congo, and we have a majority interest in diamond exploration planned on 1.25 million acres off-shore Namibia. For more information visit http://www.terrainsight.com.

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 plans to acquire additional exploration properties, plans to drill or drilling results to fail to materialize: 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.



Contact:
For Terra Energy & Resource Technologies, Inc. and Terra
Insight Corporation
ALLK, INC.
Louis Phillipe Antunes, 450-578-3283
Fax: [phone]

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Source: Terra Energy & Resource Technologies, Inc.


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