NEW YORK, May 26 /PRNewswire-FirstCall/ -- Terra Energy & Resource Technologies, Inc. (OTC:TEGR) (BULLETIN BOARD: TEGR) , a natural resource exploration services technology company, announced today that the Company's revenues were $2 million in the first quarter of 2009 with gross profit of $645 thousand and approximately $428 thousand remaining after the cost of revenues and operating expenses excluding non-cash expenses. "The first quarter was very successful for us. Our plans and initiatives, started in 2008, materialized in this, our first significant quarter in revenues since the beginning of 2007," said Dr. Alexandre Agaian, the Company's President. Terra Energy & Resource Technologies has been actively pursuing opportunities to acquire innovative exploration technologies, which the Company plans to use in its fee for services business, conducted through a wholly owned subsidiary, Terra Insight Services, Inc., while pursuing natural resource interests. The three prong approach of the business model also includes the Company's participation in joint ventures, from which it would receive carried economic interests, based, in part, on higher projected returns on investments for all participating parties through the use of the Terra technologies suite. "We had substantial revenues in the first quarter, however, mainly due to accounting treatment of the voluntarily forfeited stock options by our President, we had a non-cash expense of $2,208,172, which in addition to a non-cash deferred compensation expense of $20,598, resulted in us reporting a net loss of approximately $1.8 million," said Dmitry Vilbaum, the Company's CEO. "We are dedicated to advanced exploration technologies, and we plan in 2009 for acquisition of unique prospecting tools with the subsequent creation of a new technology and service center. We believe that innovative exploration methods in today's world of depletion and escalating exploration challenges are the main contributors to success, and our technologies pave the way to it." 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 or its plans to acquire additional exploration properties, 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: Aero Strategic Advisory, A division of Aero Financial, Inc. Ed Carter 702-982-7732 DATASOURCE: Terra Energy & Resource Technologies, Inc. CONTACT: Ed Carter of Aero Strategic Advisory, A division of Aero Financial, Inc., +1-702-982-7732 Web Site: http://www.terrainsight.com/

Copyright