Terra Energy Corp. has engaged Tristone Capital Inc. to assist the Company in marketing it's Montney mineral rights, located in and around the City of Fort St. John, British Columbia. "Our Board of Directors has arrived at this decision with a view towards making the Montney formation within our extensive land base in Fort St. John available to the rest of industry for the development of this exciting resource play." said Cas H. Morel, President and CEO of Terra Energy. "The Company intends to redeploy the proceeds from any disposition of our Montney asset towards an aggressive development program for our Sunrise Gas Field, and also towards potential acquisitions."
The offering of mineral rights will be focused on and limited to the Montney resource play. In total, approximately 110 Sections (28,000 hectares) of rights will be included. The Company's Fort St. John Core Operating Area, including all of the Montney rights to be marketed, are located in the centre of this emerging resource play, with a number of competitors announcing their own development plans on adjacent lands in recent months.
Terra Energy has recently completed the sale to an industry partner of five (5) Sections of Montney rights located within its Fort St. John Core Operating Area for gross proceeds of Five Million Dollars.
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