NEW YORK, Feb. 20, 2013 /PRNewswire/ -- Terra Energy &
Resource Technologies, Inc. (PINK: TEGR), a natural resource
exploration technology company, has been granted a services
contract by Kuwait Oil Company (KOC) for oil and gas exploration in
Kuwait. The services contract is a result of Terra winning a
public tender "Satellite Based New Mapping Technique to Provide
Subsurface Structural Features for North and South Ratqa Field"
announced by KOC in 2012. Terra plans to deploy its
Sub-Terrain Prospecting (STeP®) technology over a 200 square
kilometer area and complete its analysis within four months.
"We have started expanding into the Middle Eastern markets
together with our partner in the region Petrosas, and we are
encouraged that we signed this contract with such a world renowned
oil company as KOC," said Dmitry
Vilbaum, CEO of Terra Energy & Resource
Technologies.
Dr. Alexandre Agaian, President
of Terra Energy & Resource Technologies, stated: "Kuwait is a major oil producer, and while its
geology is well understood generally, some areas remain
challenging. Terra specializes in complicated geology and is proud
to be chosen for this new KOC work program."
About Terra Energy & Resource Technologies, Inc.
Terra Energy & Resource Technologies, Inc., through its
subsidiary Terra Insight Services, Inc., provides mapping and
analysis services for exploration, drilling, and mining companies
related to natural resources found beneath the surface of the
Earth. The Company uses a suite of innovative and efficient
technologies, which facilitate the prediction and location of
commercially viable deposits of hydrocarbons, gold, diamonds, and
other natural resources, and assesses them for any given geographic
area -- on or offshore. For more information, visit
http://www.terrainsight.com.
Safe Harbor for Forward-looking
Statements
This press release contains forward-looking information within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and is subject
to the safe harbor created by those sections. There are many
factors that could cause the Company's expectations and beliefs
about its operations, services, plans, projects, and contracts, and
its plans or proposals to acquire interests in, or participate in,
exploration activities or properties, to fail to materialize,
including, but not limited to, availability of capital, negotiation
and execution of definitive agreements, satisfaction of contractual
requirements, unfavorable geologic conditions, the amount of
reserves projected or ultimately discovered, and general regional
economic conditions.
For more information, please contact:
Terra Energy & Resource Technologies, Inc.
212-286-9197
info@terrainsight.com
SOURCE Terra Energy & Resource Technologies, Inc.