2010-01-14-2009-11-09-2009-12-15

To buy nonop WI in 2 Boundary Lake units, gaining 1.6MM BOE 2P.

Terra Energy Corp., Calgary, (Toronto: TT) has closed its divestment of non-operated interests in two Boundary Lake units to an undisclosed buyer for C$24 million. Terra sold its 2.3515% unit interest in Boundary Lake Unit 1 and its 4.7129% unit interest in Boundary Lake Unit 2. Proved plus probable reserves are approximately 1.6 million barrels of oil equivalent. Current production from the assets is approximately 140 barrels of oil equivalent per day. Proceeds from the sale will be used to lower debt and for future projects and/or acquisitions.