TXA Terrenex Acquisition Corp Com Npv

Terrenex Ltd. ("Terrenex" or the "Company") (TSX VENTURE:TXA) reported that
Forest Oil Corporation ("Forest"), a major US based natural gas producer
recently announced a significant Utica shale discovery in the St. Lawrence
Lowlands, Quebec. Subject to earning by its partners, Terrenex currently holds
an interest in 719,000 acres (27,000 acres net) in the Lowlands adjacent to the
recent discovery.


Forest reported, "Over the last two years, Forest has accumulated approximately
269,000 net acres, under lease or farmout, in the St. Lawrence Lowlands in
Quebec, Canada. Two vertical pilot wells were drilled in 2007, testing the Utica
Shale, to a total depth of approximately 4,800 feet. Production rates tested up
to 1 MMcfe/d. Although the play is still in the early stages, Forest believes
the initial results are encouraging due to the following factors:


- Shallow depth of the shale

- Rock properties are comparable to other more established shale plays 

- High-quality natural gas with minimal impurities

- Infrastructure in place with nearby access to major pipelines

- Premium natural gas pricing to NYMEX makes the economics compelling

Forest plans to drill three horizontal wells in 2008 to refine its drilling and
completion techniques. Based on technical data and the vertical pilot well
program, the preliminary net resource potential on Forest's acreage is estimated
to be approximately 4 Tcfe. First production is expected in 2009 with the
potential for a full scale drilling program in 2010 and beyond."

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