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Ford Maverick 2020

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VANCOUVER, BRITISH COLUMBIA, Aug 08, 2013 (Marketwired via COMTEX) — Terrace Energy Corp. (the “Company”) (TZR)(otcqx:TCRRF)(frankfurt:2TR) and its accomplice accept auspiciously completed a re-entry of an absolute Eagle Ford Shale able-bodied on its 147,000 acre Maverick County Project.

Dave Gibbs, the Company’s President commented: “The acknowledged achievement of an Eagle Ford Shale able-bodied is absolute cogent for the development of this project. While our antecedent primary ambition continues to be the Pearsall Shale; these aboriginal after-effects point to the anticipation of assorted formations over a apparent breadth of 200 aboveboard miles. We apprehend the Maverick County Action to advance into a aloft breadth of operations for abounding years to come.”

The Chittim F-1H Eagle Ford Shale able-bodied was accomplished by a antecedent abettor in 2011 and completed with 15 stages of hydraulic dispatch over a accumbent breach of about 5,000 feet. During antecedent flowback testing, the able-bodied encountered operational difficulties and was briefly shut in. Afterwards belief the able-bodied data, the accepted action operator, BlackBrush Oil & Gas, re-entered the able-bodied bore, installed assembly tubing and began added flowback testing on a deeply controlled choke. Recent industry acquaintance indicates that continued shut-in periods afterwards breach dispatch and anxiously controlled flowback testing may aftereffect in decidedly bigger abiding economics with shallower abatement ante aural the Eagle Ford Shale formation. The able-bodied assembly added beneath accurate ascendancy from antecedent ante of 30 barrels of oil per day (“BOPD”) to ante over 300 BOPD and 151 thousand cubic anxiety of gas per day. Affairs are underway to abode the able-bodied on bogus lift and abide accretion the breeze rate. Assay after-effects announce that abiding assembly ante on bogus lift may be decidedly college than accepted assay rates. Total basic costs for the re-entry were about US$280,000.

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These assay after-effects announce accomplished breeze characteristics are accessible in this “black oil” window of the Eagle Ford Shale on the western ancillary of the trend, aperture up a cogent allocation of the Maverick County Action to Eagle Ford Shale development. The Aggregation and the action abettor plan to chase on this success with an added Eagle Ford Shale assay able-bodied after this fall. Abstracts from the Chittim F-1H will be acclimated to optimize achievement designs for the new conduct action including the appraisal of “Gas Frac” technology.

Evaluation assignment additionally continues on agenda for the afresh accomplished Chittim 1-H Pearsall Shale assay well. The abettor encountered cogent hydrocarbon indicators in the Pearsall Shale during the conduct appearance of the action as accepted in the pre-drill prognosis. An antecedent 6-stage beginning breach dispatch was performed and breeze aback testing has begun. Affairs are to use the abstracts from this antecedent beginning assignment to optimize added achievement action in

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