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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Strategic management decisions/Special Committee
Calgary (euro adhoc) - Terrex Energy Inc. ("Terrex" or the "Company") (TSX-V:
TER) announces that a special committee (the "Special Committee") of the board
of directors has been formed and the Special Committee has engaged Nova Bancorp
Securities Ltd. ("Nova Bancorp"), on a non-exclusive basis, to assist the
Special Committee and management with an initial focus on the identification and
evaluation of various future financing strategies for the Company and its
enhanced oil recovery programs at Strathmore and Two Creek.
Nova Bancorp is a Non-Arm's Length Party (as the term is defined in Policy 1.1
of the TSX Venture Exchange Corporate Finance Manual) in relation to the Company
because Harry Knutson is a director of both Terrex and Nova Bancorp.
About Terrex
Terrex Energy Inc. is a Calgary based junior oil company that focuses on the
application of proven enhanced oil recovery methods to improve oil production
from existing mature fields. Terrex targets underexploited and undercapitalized
light to medium oil reservoirs in Western Canada. The Company's shares are
listed on the TSX Venture Exchange under the trading symbol "TER".
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Further inquiry note:
Kim Davies, President & CEO, or Norman Knecht, VP Finance and CFO, at (403)
264-4430, or visit the Company`s website at www.terrexenergy.com
end of announcement euro adhoc
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company: Terrex Energy Inc
950, 630 - 6 Avenue S.W.
CA-T2P 0S8 Calgary
phone: +1-403-264-4430
WWW: http://www.terrexenergy.ca/
sector: Oil & Gas - Upstream activities
ISIN: CA8814551096
indexes:
stockmarkets: stock market: Frankfurt
language: English
