Terra Energy & Resource Technologies Sets Up Shop in Canada

Terra Energy & Resource Technologies is expanding its oil and gas exploration services offering into 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."