Terrex Energy Inc.
January 27 2012 - 1:00PM
PR Newswire (Canada)
CALGARY, Jan. 27, 2012 /CNW/ - Terrex Energy Inc. ("Terrex" or the
"Company") announces that a special committee (the "Special
Committee") of the board of directors has been formed and the
Special Committee has engaged Nova Bancorp Securities Ltd. ("Nova
Bancorp"), on a non-exclusive basis, to assist the Special
Committee and management with an initial focus on the
identification and evaluation of various future financing
strategies for the Company and its enhanced oil recovery programs
at Strathmore and Two Creek. Nova Bancorp is a Non-Arm's Length
Party (as the term is defined in Policy 1.1 of the TSX Venture
Exchange Corporate Finance Manual) in relation to the Company
because Harry Knutson is a director of both Terrex and Nova
Bancorp. About Terrex Terrex Energy Inc. is a Calgary based junior
oil company that focuses on the application of proven enhanced oil
recovery methods to improve oil production from existing mature
fields. Terrex targets underexploited and undercapitalized light to
medium oil reservoirs in Western Canada. The Company's shares are
listed on the TSX Venture Exchange under the trading symbol "TER".
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Terrex Energy Inc CONTACT: Kim Davies,
President & CEO, or Norman Knecht, VP Finance andCFO, at(403)
264-4430, or visit the Company`s website at www.terrexenergy.com
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