SOURCE: Terra Energy & Resource Technologies, Inc.

November 02, 2009 07:00 ET

Terra Energy & Resource Technologies Signs a Working Agreement With an Australian Market Partner

NEW YORK, NY--(Marketwire - November 2, 2009) - Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), a natural resource exploration services technology company, announces that the Company signed a Working Agreement with Terralinna Pty. Ltd., an Australian limited company.

Exploration and development of Australia's and Zambia's natural resources is the target of the agreement, which sets a framework for the parties' business relationship: service fee schedule, Terra's royalty right, exclusivity rights and performance conditions for the use of the Terra technologies as well as Terra's co-investment rights among other customary contractual matters.

"Terra will utilize a market partner strategy in certain areas around the globe in order to leverage the skills, contacts and know-how of individuals and companies in their local markets, providing these partners with access to the Terra technologies and economic sharing therein, and providing Terra with an extended reach for exceptional exploration projects around the world," said Dmitry Vilbaum, the Company's Chief Executive Officer.

"We believe Terralinna represents a powerful market partner in Australia and Africa," said Dr. Alexandre Agaian, President of Terra Energy & Resource Technologies, Inc. "Consistent with our business model, the agreement allows our Company to treat the advantageous features of the Terra technology suite as investment banking capital and to receive back end interests, such as overriding royalties or carried interests, in addition to healthy cash fees, for the Terra exploration services."

"Terra has had initial discussions with Terralinna for Terra's involvement in a three million acre oil and gas exploration project," said Dmitry Vilbaum. "Terra recently completed a study of a similar sized license territory in Kazakhstan, and we are confident and excited about the opportunity being discussed with Terralinna."

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

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.

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