Terra Energy Corp.
TSX VENTURE : TTR

Terra Energy Corp.

February 13, 2009 21:21 ET

Terra Energy Replaces Expired Stock Options

CALGARY, ALBERTA--(Marketwire - Feb. 13, 2009) - Terra Energy Corp. ("Terra Energy" or the "Company") (TSX VENTURE:TTR) announces that, in accordance with the terms of the Company's stock option plan, it has granted 1,150,000 stock options to officers, directors and employees. The stock options were granted on February 13, 2009, have an expiry date of February 12, 2014 and an exercise price of $1.33 established by the market closing price of Terra Energy on the TSX Venture Exchange on Thursday, February 12, 2009. Options granted to outside directors vest immediately while those granted to employees and officers vest one-half immediately with the remainder vesting February 13, 2010. These options have been granted to replace options previously granted that expired on February 12, 2009.

Terra Energy's Board of Directors believes that the issuance of stock options to employees, officers and directors of the Company strongly promotes the alignment of their interests with those of shareholders.

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 TSX Venture Exchange under the symbol 'TTR'.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Terra Energy Corp.
    Mr. Bud Love
    Vice President of Finance and Chief Financial Officer
    (403) 699-7777