SOURCE: Terra Nova Minerals, Inc.
CALGARY, ALBERTA--(Marketwire - Sep 19, 2012) - Terra Nova Energy Ltd. (TSX VENTURE: TGC) ("Terra Nova" or the "Corporation") is pleased to announce the launch of its new website www.tneoz.com. The website includes up-to-date pertinent information on the Corporation and features photography of its field acquisition of 3D seismic on Petroleum Exploration License (PEL) 112.
Terra Nova is also pleased to announce the successful completion of 127km2 of a 3D seismic survey shot on PEL 112 situated in the Cooper Eromanga Basin in South Australia. The 3D seismic program was executed by the Australian operations group of Geokinetics Inc., Terra Nova's geophysical contractor. The data is of excellent quality and represents a vast improvement (in subsurface imaging) over the historical 2D seismic data in PEL 112. Terra Nova has commenced the data processing and, once complete, will conduct an interpretation of PEL 112 which is expected to be completed in December 2012.
Terra Nova is also engaged in modeling a 150km2 3D seismic survey for PEL 444, also situated in the Cooper Eromanga Basin to the north of PEL 112. Once the program has been modeled and the geophysical contractor selected, Terra Nova will apply for a license to shoot a 3D seismic program on PEL 444.
Upon interpretation of results from 3D seismic programs shot on PELs 112 and 444, Terra Nova anticipates it will be in a position to commence drilling in 2013, subject to rig availability.
This news release contains forward-looking information relating to the Corporation's intentions to conduct the seismic program and subsequent drilling programs and other statements that are not historical facts. Such forward-looking information is subject to important risks, and uncertainties that could cause actual results to differ materially from what is currently expected, for example: risks related to oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, competition from other producers, inability to retain drilling rigs and other services, reliance on key personnel, and insurance risks. In making such forward-looking statements, the Corporation has relied upon certain assumptions relating to commodity prices, the stability of markets and currencies, the availability of capital, and the Corporation's ability to continue with the seismic and drilling programs.
You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Corporation may elect to, the Corporation is under no obligation and does not undertake to update this information at any particular time, except as required by law.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Terra Nova Energy Ltd.
Terra Nova Energy Ltd. is a Calgary based oil and gas company. Its common shares trade on the TSX Venture Exchange under the symbol "TGC."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.