Terra Energy Corp. (Terra Energy) is engaged in exploration, development, and production of oil and natural gas in Western Canada. The Company drilled seven wells (5.1 net) with 86% success rate. In April 2007, it completed Tower-Septimus segment of South Peace River Gathering System. In September 2007, it completed East Boudreau pipeline. On December 17, 2007, completed and commissioned the Tower compression and hydration facility connecting South Peace River Gathering System to McMahon gas plant in Taylor, British Columbia. The Company?s operations are conducted principally in the central region of Alberta, northeastern British Columbia and Saskatchewan. On February 8, 2008 the Company completed the sale to an industry partner of five sections of Montney petroleum and natural gas rights located within its Fort St. John Core Operating Area.(Source: ARS)
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