Terrace Energy Options Acreage in Mississippian Lime

Source: www.gulfoilandgas.com 12/21/2012, Location: North America

Terrace Energy Corp. (Terrace Energy), is pleased to announce that its wholly owned subsidiary, Terrace US Holdings, LLC (Terrace US and, together with Terrace Energy, Terrace) has entered into an agreement with Redhawk Resources, LLC (Redhawk) wherein Redhawk has granted Terrace US an option to acquire interests in certain mineral leases in Finney County, Kansas (the “Option”). Such leases include the right to explore and exploit the coveted Mississippi Lime formation.

Eric Boehnke, Terrace Energy’s Chief Executive Officer, commented: “We are very pleased to secure this opportunity for Terrace shareholders on such favorable terms. The project area hosts significant potential for both development and expansion in multiple zones. We are particularly excited about the prospect of exploiting the Mississippi Lime formation, which has similar characteristics to, as well as the reserve potential of the Eagle Ford shale formation with significantly lower historic well development costs.”


Related Categories: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Methane Clathrate  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


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