SOURCE: Terra Energy & Resource Technologies, Inc.

October 22, 2008 07:00 ET

Geophysical Services Cooperation in Kazakhstan -- Letter of Intent Signed With Kazmorgeophizika

Companies Jointly Participated and Displayed at Geophysical Technologies Conference in Almaty, Kazakhstan

NEW YORK, NY--(Marketwire - October 22, 2008) - Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), an energy and natural resource exploration technology company, announces that it has signed a Letter of Intent with Kazmorgeophizika (KMG), a Kazakhstani company, to market and sell its innovative technology services in Kazakhstan. According to the non-binding LOI, the Company is to provide its proprietary exploration technologies solutions to KMG's customers in prospecting for oil and gas. The LOI calls for a definitive agreement, to be effected by November 15, 2008.

"It is exciting that we signed this Letter of Intent with one of the largest geophysical and exploration services providers in Kazakhstan," said Dr. Alexandre Agaian, President of Terra Energy & Resource Technologies, Inc. "The Republic of Kazakhstan is a large producer of hydrocarbons and represents a vast market with numerous international oil and gas exploration companies. Gaining the trust of a reputable mainstream technology company solidifies the Company's position in the world hydrocarbon market place."

Terra Energy & Resource Technologies, Inc. and KMG jointly presented the Terra Technology Suite at the 16th Kazakhstan International Oil & Gas Exhibition & Conference (KIOGE).

"KIOGE is the largest oil and gas show in Kazakhstan. We were given the opportunity to present our technologies under the auspices of KMG, and we were able to attract the interest of numerous industry players," said Dmitry Vilbaum, Chief Executive Officer of Terra Energy & Resource Technologies, Inc. "The reality is such that mainstream seismic acquisition and processing vendors often frown upon new technologies. KMG, however, sees the value in the Terra Technology Suite and realizes that the use of KMG's standard product offering is synergistic with our solutions providing its clients with significant improvement in accuracy, efficiency, and effectiveness of the exploration process."

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 or its plans to acquire additional exploration properties, 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

  • Media Inquiries:
    Terra Energy & Resource Technologies, Inc.
    Dmitry Vilbaum
    CEO
    Phone: (212) 286-9197