Business News • MarketWire • Terrace to Acquire Oil & Gas Property in Texas |
Terrace to Acquire Oil & Gas Property in Texas |
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Terrace to Acquire Oil & Gas Property in Texas
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 4, 2011) - The directors of Terrace Resources Inc. (TSX VENTURE:TZR.P) ("Terrace" or the "Company") are pleased to announce that the Company has entered into a letter of intent dated January 31, 2011 (the "LOI") to acquire an 87.5% working interest and 65.1875% net revenue interest (the "Acquisition") in certain oil gas leases referred to as the "Los Patos Gas Unit" (the "Unit") from Eagle Energy and Development Company ("Eagle"), a private company incorporated in Texas which is at arm's length to Terrace.
View More : http://www.marketwire.com/mw/release.do?id=1391048&sourceType=3
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