"Wingman" 3D Seismic Survey Underway on Terra Nova Energy's PEL 444
June 10 2013 - 8:54AM
Access Wire
June 10, 2013 - Vancouver, British Columbia - Terra Nova Energy
Ltd. (TSXV: TGC) ("Terra Nova") reports seismic crews set camp and
began line preparation on Petroleum Exploration License ("PEL") 444
on May 29, 2013. Line preparation is the initial phase of the
"Wingman" 3D Seismic Survey which targets acquisition of 80 square
kilometers of 3D seismic data in the southeast corner of PEL 444's
lower panhandle. The scope of the Wingman Survey is designed to
mature two (2) Birkhead formation exploration leads to prospect
status.
As of June 4, 2013, line preparation on the Wingman Survey was
78% complete and more than 45% of seismic lines had been surveyed
and pegged. The recording phase of the Wingman Survey is expected
to begin on or about June 18, 2013. Terrex Pty. Ltd. ("Terrex") is
the seismic contractor for the Wingman Survey. Terrex is the
largest supplier of land seismic acquisition services in Australia
and has been in continuous operations for more than 30 years.
Terra Nova also reports that access road construction and site
preparation on PEL 112 continues on schedule. Approximately 17
kilometers (10 miles) of access road has been graded, and 12
kilometers (7.5 miles) of clayed road has been constructed. The
Wolfman #1 exploration well's projected early July 2013 spud date
remains unchanged.
About Terra Nova Energy Ltd.
Terra Nova Energy Ltd. is an oil and gas company with a right to
acquire up to a 55% working interest in two onshore petroleum
exploration licenses ("PELs"), being PEL 112 and PEL 444, located
on the western flank of the Cooper Eromanga Basin in the State of
South Australia, Australia. Its common shares trade on the TSX
Venture Exchange under the symbol "TGC".
For more information please contact:
Terra Nova Energy Ltd.
Nico Civelli
VP Finance
+41 44 217 4804
civelli@niconsult.ch
Forward looking information
This news release contains forward-looking information relating
to Terra Nova's intentions to conduct the seismic program and
subsequent drilling programs and other statements that are not
historical facts. Such forward-looking information is subject to
important risks and uncertainties that could cause actual results
to differ materially from what is currently expected, for example:
risks related to oil and gas exploration, development,
exploitation, production, marketing and transportation, loss of
markets, volatility of commodity prices, currency fluctuations,
competition from other producers, inability to retain drilling rigs
and other services, reliance on key personnel, and insurance risks.
In making such forward-looking statements, Terra Nova has relied
upon certain assumptions relating to geological settings, commodity
prices, the stability of markets and currencies, the availability
of capital, and Terra Nova's ability to continue with the seismic
and drilling programs. You should not place undue importance on
forward-looking information and should not rely upon this
information as of any other date. While Terra Nova may elect to,
Terra Nova is under no obligation and does not undertake to update
this information at any particular time, except as required by
applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.