SOURCE: Terra Energy & Resource Technologies, Inc.

June 17, 2008 07:00 ET

INOGT Presents Innovative Technology at a Prestigious Geophysical Conference

Institute of New Oil and Gas Technologies Co-authored a Speech With Gazprom at European Association of Geoscientists & Engineers in Rome

NEW YORK, NY--(Marketwire - June 17, 2008) - Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR) announces that the Institute of New Oil and Gas Technologies (INOGT), with which the Company has recently signed a Memorandum of Understanding to acquire 100% of its equity ownership, presented its innovative Seismic Location of Emission Centers (SLEC) technology at the European Association of Geoscientists & Engineers (EAGE) conference and exhibition in Rome, Italy.

"We are excited that the SLEC technology, which we plan will become part of our technology complex, was presented at such a well recognized event. INOGT and Gazprom scientists co-authored the presentation," said Dmitry Vilbaum, Chief Executive Officer of Terra Energy & Resource Technologies, Inc. "The presentation of Seismic Location of Emission Centers (SLEC) in Rome alongside a major oil and gas company, Gazprom, strengthened the scientific and commercial validity of SLEC in the geophysical community. Terra Energy & Resource Technologies is proud to be able to expand its technology offering with SLEC.

"SLEC, Seismic Location of Emission Centers, is a passive seismic technology. It was designed, to address one of the toughest challenges of modern oil and gas exploration -- determination of fluid saturation in reservoirs. It also addresses other important aspects like timing and management of hydrofracturing. We are seeking to develop an innovative approach of 3S -- Space-Surface-Subsurface. SLEC is planned to be a part of this highly accurate, effective, and efficient suite of technologies."

About Terra Energy & Resource Technologies, Inc.

Terra Energy & Resource Technologies, Inc., through its subsidiary Terra Insight Corporation, 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 proprietary satellite-based STeP (Sub-Terrain Prospecting) technology, which facilitates 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