Terra Energy Corp.
TSX : TT

Terra Energy Corp.

September 18, 2009 22:03 ET

Terra Energy Announces Management Appointments

CALGARY, ALBERTA--(Marketwire - Sept. 18, 2009) - Terra Energy Corp. ("Terra Energy" or the "Company") (TSX:TT) is pleased to announce, on behalf of the Board of Directors, a series of appointments that are being made in conjunction with a reorganization of the Company's management structure. The appointments are being made in preparation for anticipated growth as the Company transitions towards becoming a more balanced, intermediate-sized producer. The reorganization is intended to provide Terra Energy with the operational structure, efficiencies and accountability needed as the Company increases production, expands its operations into new areas and further strengthens its geotechnical team.

Effective October 1, 2009, Tony Sabelli will lead the newly created Alberta and Saskatchewan Operations Unit as Executive Vice-President. Mr. Sabelli is a founder and an officer of Rising Sky Energy Ltd., and a current member of the Company's Board of Directors. Mr. Sabelli brings additional depth to the Management team with over 30 years of oil and gas drilling and production experience in Alberta with both private and public companies, including 11 years with a senior Canadian oil and gas producer where he was General Manager of Drilling and Completions for domestic and international operations. Mr. Sabelli holds a Petroleum Engineering diploma.

Effective immediately, Tim Beatty will assume the role of Executive Vice-President, British Columbia Operations where he will lead the newly created British Columbia Operations Unit. Mr. Beatty joined the Company in 2002. Mr. Beatty is a professional engineer with almost 30 years of oil and gas drilling and production experience with large oil and gas producers located in North America and Australia. Mr. Beatty holds a B.Sc. in Petroleum Engineering.

Graham Collins has been appointed to the newly created role of Vice-President Production. In this role, Mr. Collins will be responsible for production operations in the Alberta and Saskatchewan Operations Unit. In addition, Mr. Collins will continue to be responsible for production operations in the British Columbia Operations Unit until the Company attains "intermediate" status. Since joining Terra Energy in 2004, Mr. Collins has held the role of Manager, Production Operations where he has led the Company's day-to-day production operations. Mr. Collins' more than 33 years experience in the energy industry includes maximizing production growth, developing core focus areas, implementing operations efficiencies and initiating risk management strategies. Mr. Collins is a professional engineer and holds a Masters in Business Administration, a Bachelor of Science in Mechanical Engineering and is a graduate of the Queen's University Executive Program.

Gord Oliver has been promoted from his previous role as Manager, Exploitation to the newly created role of Vice-President Exploitation, British Columbia. Mr. Oliver possesses more than 22 years of progressively senior engineering experience in the conventional oil and natural gas industry with strengths in exploitation and reservoir engineering. Mr. Oliver is a professional engineer and holds a B.Sc. in Petroleum Engineering.

John Behr will continue to lead Terra Energy's exploration team in his current role as Vice-President, Exploration. Mr. Behr is a professional geophysicist with over 20 years of experience working for companies such as Shell Canada, Rio Alto Exploration, El Paso and Dominion Exploration. He is an expert in structural and stratigraphic interpretation as well as originating many novel geophysical methods. Mr. Behr holds an H.BSc. in geophysics and is a member of the CSEG, the SEG, the CSPG and APEGGA.

In addition to the aforementioned changes, the Company also wishes to announce that John Andersen has joined Terra Energy's geotechnical team in the role of Chief Geologist. Mr. Andersen is a professional geologist and proven oil finder with 30 years exploration experience in Western Canada. In the last 10 years, John was a founder of 3 separate start-up oil and gas companies including Progress Energy, Relentless Energy and most recently Redcliffe Energy, prior to which Mr. Andersen held senior exploration roles with Poco Petroleums Ltd., and Petro Canada. John's technical strengths are geologic reservoir modeling, stratigraphic mapping, and prospect visualization. John holds a BSc. Honors in Geology.

"Terra Energy has always been performance driven and led by the strength and quality of our geotechnical team," said Cas H. Morel, President and CEO. "We have made these appointments in recognition of how vital the next stage of growth is to the Company and the importance of having a "success-driven" team to efficiently exploit, explore, and manage our growing operations. These changes enable our people to focus on their core areas of expertise and help to reinforce our commitment to grow the Company into a more balanced intermediate-sized producer."

Terra Energy would also like to announce that Yvonne Frame-Zawalykut has joined our financial team as Controller. Ms. Frame-Zawalykut holds a Chartered Accountant designation and brings 14 years of accounting experience including positions at Coopers & Lybrand, TransCanada, Loblaw Companies, and most recently Husky Energy.

The Company also wishes to advise that Tim Blair, Vice-President Land, will be departing Terra Energy to pursue other interests. The Board of Directors and Management would like to thank Mr. Blair for his significant contribution during his five years with the Company and wish him the best in his future endeavours.

Terra Energy is a junior oil and gas company engaged in the exploration for, and development and production of, natural gas and oil in Western Canada. Terra Energy's common shares trade on the Toronto Stock Exchange under the symbol 'TT'.

READER ADVISORY

This media release contains certain statements which constitute forward-looking statements or information, including Terra Energy's anticipated growth as the Company transitions towards becoming a more balanced intermediate-sized producer, the reorganization resulting in the operational structure, efficiencies and accountability needed as the Company increases production and expands its operations into new areas and further strengthens its geotechnical team, the Company's ability to efficiently exploit, explore and manage its growing operations, and the Company's ability to execute on its commitment to grow the Company into a more balanced intermediate-sized producer. Although Terra Energy believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. Risks include, but are not limited to: the risks associated with the oil and gas industry (eg., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in more detail in our Annual Information Form and other documents available at www.sedar.com. Furthermore, the forward-looking statements or information contained in this document are made as of the date of this document and, except as required by applicable law, Terra Energy does not undertake any obligation to publicly update or to revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise. The forward-looking statements or information contained in this document are expressly qualified by this cautionary statement.

Contact Information

  • Terra Energy Corp.
    Dean N. Morrison, CFA
    Manager, Corporate Affairs
    (403) 699-7777