Terrace Energy Announces First Quarter Results
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/03/12 -- Terrace Energy Corp. (TSX VENTURE: TZR) (the "Company" or "Terrace") is pleased to announce its financial and operating results for the first quarter ended April 30, 2012.
The Company's interim financial statements and management discussion and analysis for the three months ended April 30, 2012 are available for viewing at and on the Company's website at .
First Quarter Achievements
First Quarter Highlights
Eric Boehnke, the Company's Chief Executive Officer, commented: "The Company's very first producing well, which is situated on our STS Olmos project in McMullen County, Texas, was placed into production in February and has performed above expectations. We are very excited about the Company's future prospects and we are eager to develop the rest of the acreage in due course."
Financial Summary
For the three months ended April 30, 2012.
(expressed in Canadian dollars)
About Terrace Energy
Terrace Energy is an oil & gas development stage company that is focused on unconventional oil extraction in onshore areas of the United States. It currently has non-operating investments in two principal properties situated in Texas with targets in the "Olmos" and "Eagle Ford" formations.
APPROVED BY THE BOARD OF DIRECTORS
Eric Boehnke, Chief Executive Officer
Forward-Looking Information:
This press release includes "forward-looking information", including the revenue to be received from the STS 1-667H well and the time when the Company receives that revenue, the production rate of that well, the timing of exploration drilling and the potential for the Company's projects to support additional drilling locations. Users of forward-looking information are cautioned that actual results may vary from the forward-looking information disclosed in this press release. The material risk factors that could cause actual results to differ materially from the forward-looking information contained in this press release include, lack of availability of goods and services, regulatory changes and all of the other risks and uncertainties normally associated with the exploration for and development and production of oil and gas. The forward-looking information contained in this press release represents management's best judgment of future events based on information currently available. The material assumptions used to develop the forward-looking information include: that necessary goods and services will be available on reasonable terms, that regulatory requirements will not change in any material respect and that other aspects of the Company's operations will not be affected by unforeseen events. The Company does not assume the obligation to update any forward-looking information, except as required by applicable law.
Contacts:
Terrace Energy Corp
Eric Boehnke
Chief Executive Officer
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Unternehmensinformation / Kurzprofil:
Datum: 03.07.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 162097
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Oil & Gas
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