Terra Energy Corp. has engaged Macquarie Capital Markets Canada Ltd. and Scotia Waterous of Scotia Capital Inc., jointly, as marketing/financial advisors to assist the Company in connection with an outright sale or joint venture of its unconventional Montney assets located in northeast British Columbia. Terra has also engaged GMP Securities LP to assist the Company in the analysis and evaluation of any proposed transactions.

Terra owns over 120,000 net acres of land within the Montney Fairway in northeast British Columbia. Terra has incorporated "NorAm Energy Worx Inc." for the sole purpose of holding these assets and facilitating any prospective transaction. Terra's Montney assets are divided as between the unconventional Montney gas and gas liquids play and the nascent unconventional Montney condensate play.

"The Montney is Terra's single largest asset and it has eclipsed the balance of the Company in terms of its size and potential as a resource play. At the same time, the Montney does not currently contribute in any material sense to either our production or cash flow." stated Cas H. Morel, President and CEO of Terra. "It is for this reason that it is imperative to find the capital to develop these assets to their full potential or to find new ownership and crystallize value for our shareholders. All indications are that there is considerable appetite for these Montney assets among strategic players and, in particular, Asian countries."

Tags: Terra Energy Corp.