Terra Energy Corp.
TSX VENTURE : TTR

Terra Energy Corp.

March 02, 2009 22:49 ET

Terra Energy Replaces Expired Stock Options

CALGARY, ALBERTA--(Marketwire - March 2, 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 stock options to acquire 270,000 common shares of the Terra Energy to an officer of the Company. The stock options were granted on March 2, 2009, have an expiry date of February 27, 2014 and an exercise price of $1.34 per share established by the market closing price of Terra Energy on the TSX Venture Exchange on Friday, February 27, 2009. One-half of the options vest immediately with the remainder vesting February 27, 2010. These options have been granted to replace options previously granted that expired on February 27, 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