SOURCE: Terra Energy & Resource Technologies, Inc.

January 19, 2010 07:00 ET

Oil and Gas in Nevada -- Terra Energy & Resource Technologies Signs an Exploration Services Contract

NEW YORK, NY--(Marketwire - January 19, 2010) - Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), a natural resource exploration services technology company, announces that the Company was granted a service contract for oil and gas exploration in Nevada by Golden Eagle Alliance, LLC, a Colorado limited liability company.

The contract entails the application of the Company's proprietary technology STeP® to assess the hydrocarbon potential of a certain area.

"A few of the most prolific wells in the continental United States are in Nevada, although the state is underexplored for oil and gas. Our STeP® technology is remote in nature, and its value is significantly elevated in frontier areas," said Dmitry Vilbaum, Chief Executive Officer of Terra Energy & Resource Technologies. "Nevada is regarded by many geologists as the oil kitchen of America, however no one has been able to break its oil and gas code."

"Terra plans to engage in frontier exploration on its own account," said Dr. Alexandre Agaian, Terra Energy & Resource Technologies' President. "We are encouraged that the Company is engaged by other exploration companies such as our new client the Golden Eagle Alliance to reduce the wildcatters' risks. Exploration in Nevada, unlike in more established oil and gas states like Texas and Oklahoma, is at a disadvantage due to its remoteness, lack of seismic coverage, and extremely complicated geology. In such situations, the Terra analysis gets into the driver's seat paving the way to traditional geological and geophysical studies."

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.

Contact Information

  • For More Information, Please Contact:

    Terra Energy & Resource Technologies, Inc.
    212-286-9197
    info@terrainsight.com