Terra Energy Corp.
TSX : TT

Terra Energy Corp.

March 31, 2010 13:59 ET

Terra Energy Corp. Responds to Erroneous Stockwatch Headline

CALGARY, ALBERTA--(Marketwire - March 31, 2010) - Terra Energy Corp. ("Terra Energy" or the "Company") (TSX:TT) announces that the headline used by Stockwatch in connection with the media release of the Company on March 30, 2010 is erroneous and is a misstatement of fact regarding the option to acquire assets (the "Option") that the Company will let expire on March 31, 2010. The Option, as more particularly described in a media release of the Company dated February 1, 2010, is an option to acquire conventional oil and natural gas assets. Stockwatch erroneously stated that the Company was "to let Montney expansion option expire." Contrary to the Stockwatch headline and as clearly stated in prior media releases by the Company, the Company is vigourously pursuing the advancement of its Montney play. Terra Energy is currently one of the largest holders of prospective Montney rights in British Columbia, with approximately 122 gross (100 net) sections within the prospective Montney "Fairway". For further information regarding the Company's Montney expansion plans, please see the prior media releases of the Company dated February 1st, February 10th, February 16th, March 3rd, March 4th and March 30th, 2010.

A senior representative of the Company contacted Stockwatch to have their error corrected. At this time, Stockwatch has not complied with the Company's request.

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 ("forward-looking statements"). 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 statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, 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 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, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Contact Information

  • Terra Energy Corp.
    Mr. Bud Love
    Vice President, Finance & Chief Financial Officer
    403 699 7777