Terra Energy & Resource Technologies Expands Services Offering Into Canadian Oil and Gas Exploration Market
March 02 2010 - 6:00AM
Marketwired
Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), a
natural resource exploration technology company, announces today
that the Company is expanding its oil and gas exploration services
offering into the country of Canada. With this aim, Terra Energy
& Resource Technologies signed an agreement with Alberta Energy
Consultants Ltd to facilitate sales and marketing in Canada of the
Company's oil and gas exploration services.
The contract sets forth a market partner framework between the
companies, and includes performance requirements for Alberta Energy
Consultant in exchange for certain exclusivity rights over a
specific time frame, as well as other customary provisions.
"We are encouraged to gain a professional local partner that
will market and promote our exploration services in Canada, one of
the richest, underexplored oil and gas countries in the world,"
said Dmitry Vilbaum, Chief Executive Officer of Terra Energy &
Resource Technologies. "Terra has already established its services
network in South America, Australia, South East Asia, and select
countries in Africa via similar contracts and relationships. The
distribution contract with Alberta Energy Consultants is patterned
after a model that has served Terra over the years. Our local
partners possess an in-depth knowledge and experience in their
specific countries, geology and business environments, and create
an effective conduit for Terra to reach participants in respective
local exploration industries," Dmitry added.
Dr. Alexandre Agaian, Terra Energy & Resource Technologies'
President, noted that most of the Company's marketing partners
initiate contact with Terra because they see value in the Terra
product and its competitive feature set. Dr. Agaian also stated:
"Our distribution relationships enable Terra to reach many
exploration communities cost effectively, as Terra does not have to
expand its operational capability to cover those disparate
geographies and business environments. We have already received
service revenues and other lucrative business opportunities from
such relationships and expect the same from Alberta Energy
Consultants."
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 services and service offerings, 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 Email Contact
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