SOURCE: Terra Energy & Resource Technologies, Inc.

October 05, 2010 06:00 ET

Terra Energy & Resource Technologies Expands Its Services Offering Into India via a Market Partner Agreement

NEW YORK, NY--(Marketwire - October 5, 2010) -  Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), a natural resource exploration technology company, is expanding its oil and gas and other minerals exploration services offering to India by signing a market partner agreement with Saturn Energy Solutions for Oil & Gas (Saturn), a geological and geophysical consulting firm in India. The contract sets forth a market partner framework between the companies, granting Saturn certain rights in connection with the sales and marketing of Terra exploration services in India.

"We started using the market partner strategy last year and we now have agreements for areas on several continents. Through our South American and South Asian partners, this year we have obtained or carried out service contracts in Argentina, Cambodia, and Indonesia. Our partners helped us to establish many key relationships and to advance with numerous sales prospects and negotiations, creating a significant business pipeline for Terra," said Dr. Alexandre Agaian, President of Terra Energy & Resource Technologies.

Dr. Agaian noted that India is a well-established oil and gas exploration and production country, also stating: "Saturn is not just a business development firm, but a multi-service geophysical and geological consulting company with insight into the Indian oil and gas exploration industry and related services landscape. Saturn's impressive team consists of seasoned geoscientists and engineers. We are encouraged by this new market partner relationship, extending the Terra service offering into India."

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 and business plans, its services and service offerings, its plans to acquire interests in exploration properties or technologies, 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

  • For More Information, Please Contact:
    Terra Energy & Resource Technologies, Inc.
    212-286-9197
    info@terrainsight.com