Two Contracts for Oil Exploration Completed by Terra Insight Services
28 September 2009 - 9:47PM
PR Newswire (US)
Terra Delivers Analysis Reports to Kazakhstan Company NEW YORK,
Sept. 28 /PRNewswire-FirstCall/ -- Terra Energy & Resource
Technologies, Inc. (OTCBB: TEGR), a natural resource exploration
services technology company, announces that the Company's service
subsidiary Terra Insight Services, Inc. successfully completed two
service contracts for AKTAU-TRANSIT, LLC, a Kazakhstan oil and gas
exploration and production firm. "The project consisted of the
STeP(R) analysis of two separate oil fields," said Dr. Alexandre
Agaian, President of Terra Energy & Resource Technologies, Inc.
"Heretofore, both fields had very limited production and our client
retained our services to analyze the geology, reasons for
unsuccessful prior drillings and the additional oil potential of
the license blocks. We have established what should be a strong
long term relationship, because we displayed to AKTAU-TRANSIT that
we can redefine existing oil fields, uncovering new oil
prospectivity and reserves within the areas of existing oil
fields." "It is exciting to work on this project," said Dmitry
Vilbaum, the Company's Chief Executive Officer. "The Company had
completed Phase 1 of a $2.4 million contract with another firm in
Kazakhstan, and we welcomed additional business from that oil rich
country. Terra Energy & Resource Technologies is now advancing
relationships with potential market partners in Asia, Africa and
Australia." 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, prospects for service or joint
venture opportunities, plans to acquire additional exploration
properties or technologies, or 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.
DATASOURCE: Terra Energy & Resource Technologies, Inc. CONTACT:
Terra Energy & Resource Technologies, Inc., (212) 286-9197,
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