Terra Energy Corp.

A year of growth  

Terra Energy Corp. is a Calgary-based junior exploration and production company engaged in the exploration, development and production of natural gas and oil in western Canada. Operations are concentrated primarily in north-eastern British Columbia and the Peace River Arch region of Alberta.

Over the past year, Terra Energy has focused on building a strong asset base—a high-quality, long-life reserve, production and cash flow base—through land acquisitions, seismic data interpre­tation, and exploration and development drill­ing. A few of these portfolio decisions included acquiring Tecton Energy Canada and the Peace Arch River assets, as well as selling non-operated interests in the Boundary Lake.

Through portfolio expansion, Terra Energy has been able to consolidate its existing position in its core area of Fort St. John in British Columbia, while significantly expanding the company’s foot­print into the more oil-prone regions of the Peace River Arch in Alberta. Presently, Terra has oppor­tunities to develop on various formations. Such opportunities will serve to further ensure the company’s significant infrastructure and facilities remain fully functioning.

Together with the company’s in-house geotech­nical expertise, Terra Energy aims to use its strate­gic asset base to strengthen future exploration for natural gas and oil in the company’s multi-zone, liquids-rich core area and in other focus areas of the company. Terra plans to pursue a program of balancing these higher-risk exploration programs with low-risk development drilling, complemented by further property and corporate acquisitions.

Succeeding in hard times

While it has been a challenging year for natural gas prices, Terra Energy has remained strongly positioned to achieve its ‘near term’ objectives for growth and balance. In fact, with the compa­ny’s increasing size and access to capital mar­kets, the management team believes now is the time to develop Terra’s considerable portfolio of non-conventional resources, including the Mont­ney Gas, Montney Oil, and Halfway resource development opportunities

For Terra Energy, its success through the rough times has stemmed, in part, from its strong leadership. The team embodies all disciplines and reflects its position as a full-cycle exploration and production company. The team is experi­enced, highly skilled and capable of handling the challenges going forward.

High standards

Terra Energy considers environmental awareness and responsiveness an important factor affecting its operational performance and public accep­tance. The team knows the impact that construc­tion and operations can have on the surrounding ecosystem and communities, and recognizes its responsibility in mitigating that impact. Terra’s leaders have resolved to conduct affairs in the manner of a good corporate citizen—respectful of the environment and the communities in which they operate.

Excellence in safety performance is also an essential requirement to the success of Terra’s operations and the company is com­mitted to the protection of people and physical assets. All employees are expected to perform their jobs properly in accordance with estab­lished safety procedures and operate philoso­phy, and they are trained to operate facilities.

A safety awareness program has been established for all field employees and the company has developed a safety procedures manual and emergency response plan to deal with situations that may jeopardize public safety. Third-party audits are also con­ducted on Terra Energy operated facilities in relation to both environment and safety considerations.

Going forward

Terra Energy is augmenting their executive team with the addition of Allan Bertram as the Vice President of Exploitation for Alberta and Saskatchewan.  With over 15 years experience in the industry and the background as a profes­sional engineer, Bertram has worked with major petroleum engineering firms in Calgary. Terra Energy will benefit from Bertram’s experience in successfully managing multi-disciplinary teams in a progressive and emerging technology, horizon­tal drilling and waterflood techniques.

www.terraenergy.ca

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