Oil and Gas in Nevada -- Terra Energy & Resource Technologies Signs an Exploration Services Contract
19 Janeiro 2010 - 10:00AM
Marketwired
Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), a
natural resource exploration services technology company, announces
that the Company was granted a service contract for oil and gas
exploration in Nevada by Golden Eagle Alliance, LLC, a Colorado
limited liability company.
The contract entails the application of the Company's
proprietary technology STeP® to assess the hydrocarbon potential of
a certain area.
"A few of the most prolific wells in the continental United
States are in Nevada, although the state is underexplored for oil
and gas. Our STeP® technology is remote in nature, and its value is
significantly elevated in frontier areas," said Dmitry Vilbaum,
Chief Executive Officer of Terra Energy & Resource
Technologies. "Nevada is regarded by many geologists as the oil
kitchen of America, however no one has been able to break its oil
and gas code."
"Terra plans to engage in frontier exploration on its own
account," said Dr. Alexandre Agaian, Terra Energy & Resource
Technologies' President. "We are encouraged that the Company is
engaged by other exploration companies such as our new client the
Golden Eagle Alliance to reduce the wildcatters' risks. Exploration
in Nevada, unlike in more established oil and gas states like Texas
and Oklahoma, is at a disadvantage due to its remoteness, lack of
seismic coverage, and extremely complicated geology. In such
situations, the Terra analysis gets into the driver's seat paving
the way to traditional geological and geophysical studies."
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, 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.
For More Information, Please Contact: Terra Energy &
Resource Technologies, Inc. 212-286-9197 info@terrainsight.com
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