“We started using the market partner strategy last year and we now have agreements for areas on several continents. Through our South American and South Asian partners, this year we have obtained or carried out service contracts in Argentina, Cambodia, and Indonesia. Our partners helped us to establish many key relationships and to advance with numerous sales prospects and negotiations, creating a significant business pipeline for Terra,” said Dr. Alexandre Agaian, President of Terra Energy & Resource Technologies.

Dr. Agaian noted that India is a well-established oil and gas exploration and production country, also stating: “Saturn is not just a business development firm, but a multi-service geophysical and geological consulting company with insight into the Indian oil and gas exploration industry and related services landscape. Saturn’s impressive team consists of seasoned geoscientists and engineers. We are encouraged by this new market partner relationship, extending the Terra service offering into India.”

About Terra Energy & Resource Technologies, Inc.

Terra Energy & Resource Technologies, Inc., through its subsidiary Terra Insight Services, Inc., provides mapping and analysis services for exploration, drilling, and mining companies related to natural resources found beneath the surface of the Earth. The Company uses a suite of innovative and efficient technologies, which facilitate the prediction and location of commercially viable deposits of hydrocarbons, gold, diamonds, and other natural resources, and assesses them for any given geographic area — on or offshore. For more information, visit http://www.terrainsight.com

Safe Harbor for Forward-looking Statements

This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause the Company’s expectations and beliefs about its operations and business plans, its services and service offerings, its plans to acquire interests in exploration properties or technologies, plans to drill or drilling results to fail to materialize, including, but not limited to: competition for new acquisitions; availability of capital; unfavorable geologic conditions; prevailing prices for oil, natural gas and other natural resources; and general regional economic conditions.

Suzanne Holbrook

CONTACT:

Terra Energy & Resource Technologies, Inc.
212-286-9197
info@terrainsight.com

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Recent evidence of Capital Worldwide’s latest assertion on China includes state-owned Yanzhou Coal Mining Co., who last week agreed to buy Australia’s Felix Resources Ltd. for about A$3.5 billion ($2.9 billion), a day after Sinochem Corp., China’s biggest chemicals trader, offered to buy Emerald Energy Plc for 532 million pounds ($881 million) to gain oil fields in Syria and Colombia.

China National Petroleum Corp.’s plan to buy Repsol YPF SA’s Argentine unit may push Chinese purchases of overseas commodity assets to $43 billion this year, a 48 percent increase on 2008, according to Capital Worldwide analysis findings.

A Capital Worldwide analyst statement last week took the view that a fundamental lack of core resources such as nickel, oil and copper has compelled China to go on a buying spree in preparation for a rainy day to come, and that low commodity prices have attracted them into the market for such assets now.

Bids for resources by China, whose $2.1 trillion in currency reserves are the world’s largest, have been met with opposition in the U.S. and Australia. Neither concern over its growing influence nor the arrest of four Rio executives in Shanghai have stopped Chinese companies from buying assets abroad as the nation’s 4 trillion yuan ($585 billion) economic stimulus spurs demand. Furthermore, they anticipate seeing a long-term trend of larger and bolder deals from China.

The Reuters/Jefferies CRB Index, which tracks 19 raw materials, dropped 36 percent last year, the biggest annual decline since at least 1957. The measure has gained 15 percent this year on signs that the recession may be ending.

According to data in the Capital Worldwide report, Chinese energy companies have spent at least $13 billion on overseas assets since December as they take advantage of lower valuations caused by the slowdown.

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“Far from choosing the most cost effective option, the Government is planning for failure, with kiwis picking up the tab,” said Jeanette Fitzsimons, Green Party Climate Change Spokesperson.

“It will see our emissions continue to climb unchecked, with no incentive to reduce them.

“Kiwis will have to pay for their own emissions up front via their electricity and petrol bills, and then pay for those of our largest polluters, via their taxes.”

The Report of the Emissions Trading Scheme Review Committee shows that National’s plan is for polluters to get more free credits the more they pollute, and for a price cap to be put on carbon, shutting forestry out of the market.

“The current ETS will become the sceptic’s ETS, as only the Act Party could support intensity based allocation,” Ms Fitzsimons said.

“What the Government is proposing is the biggest wealth transfer in New Zealand history from the taxpayer to the big polluters.

“It would be easier and cheaper if the National Party just wrote some big cheques and handed them to our largest foreign-owned companies.

“It is an outrage that a scheme meant to tackle the most pressing issue of our generation has been high jacked to line the pockets of the wealthy corporations, rather than protect the most vulnerable, our children.

“The Green Party had great difficulty supporting the weak scheme put forward by Labour. It will be much easier to reject this time around,” Ms Fitzsimons said.

For the full report back to the House, (see page 66):

http://www.parliament.nz/NR/rdonlyres/83AC973B-6FDE-4260-846E-E7CCFBD3FE…

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Commodities from oil to copper are poised to climb as government spending worldwide spurs a recovery in demand and companies curtail investment in mines and rigs, DIB Solutions said in an emailed statement to shareholders this week.

The DIB Solutions analyst team believe that economic conditions are set to precipitate a strong price move over the next two years, with the possibility of a super-spike increasing with current trends.

Commodities jumped 15 percent this year after slumping 36 percent in 2008, their biggest decline in half a century based on the Reuters/Jefferies CRB Index, because of the global recession. This year, gasoline and copper doubled on signs the worst is past for the economy and as China increased inventories of crude oil and industrial metals.

The world economy will grow 2.5 percent in 2010, more than the 1.9 percent forecast in April, after shrinking 1.4 percent this year, according to the data cited in the DIB Solutions report. China expanded 7.9 percent in the second quarter, the first time growth had accelerated in more than two years.

DIB Solutions said demand for commodities will remain very strong as investors from sovereign wealth and pension funds to asset managers increase their holdings.

Crude oil has advanced 61 percent this year to over $70 a barrel on the New York Mercantile Exchange. The London Metal Exchange index of six metals soared 67 percent to 2,880 as countries worldwide spent more than $2 trillion to spur their economies.

A shortage of raw materials is likely next year as output of metals and agricultural products potentially climbs too slowly to keep pace with demand, according to the DIB Solutions forecasts.

Prices of crude oil, copper, corn, soybeans and wheat reached records last year before tumbling in the second half.

The downside risk to commodities, according to DIB Solutions, lies in house price recovery. But data is showing the worst housing market since the 1930s has shown signs of stabilizing as a gauge of U.S. home prices posted its first monthly gain in three years in May from the prior month.

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Now Royal Dutch Shell Plc Chief Executive Officer Jeroen van der Veer has added fuel to the fire; the global energy industry is facing severe challenges and the world needs unconventional energy supplies to meet rising demand, he said at the Asia Oil and Gas Conference in Kuala Lumpur recently. TEC Associates are believed to have brokered many deals for clients over recent weeks and their portfolios now show a strong position in short-term oil futures.

The economy will turn, demand will come back and the overcapacity of supply will disappear, van der Veer said. He continued to explain that oil and natural gas wont be able to meet all the additional demand thats required.

Shell, Europes largest oil and gas company, forecasts that renewable sources will account for 30 percent of new energy demand, according to van der Veer. One inside source at TEC Associates claimed that their analysts were in broad agreement here and evidence of this could be seen from TEC Associates positive stance on agriculture products which are used in the production biofuels.

The TEC Associates source cited data from a Hong Kong-based thinktank which illustrates an eight straight monthly drop in the number of drilling rigs operating worldwide as explorers postpone developments.

Analysts across the board have begun to raise their oil-price forecasts on optimism the recovery in the economy will lead to increased demand for energy, but TEC Associates are said to be expanding the strategy with a longer –term view on the impact on biofuel-related investment vehicles.

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Commodities will rise as investors’ appetite for risk revives along with the global economy, Magellan Associates analysts, said in an email address to shareholders this week. At the same time, oil production will drop as much as 6.3 percent a year among suppliers outside the Organization of Petroleum Exporting Countries and by 3.5 percent within the group, the firm said.

Oil demand is expected to rise 1.4 million barrels a day, or 1.7 percent, in 2010, led by emerging markets outside the Organization for Economic Cooperation and Development, the International Energy Agency said on July 10. Crude prices have climbed 35 percent this year on optimism that government stimulus will overcome the worst recession in six decades. Magellan Associates are advising clients to rediscover their appetite for risk as the recovery kicks on.

The Magellan Associates statement informed investors that global demand will increase as the economy recovers into 2010, while crude supplies have plateaud. Combined with a softening US dollar, these conditions will result in strong upward momentum for oil prices through 2010

West Texas Intermediate oil traded on the New York Mercantile Exchange will average $55 a barrel in the third quarter of 2009, up 15 percent from earlier forecasts, Magellan Associates said. Fourth-quarter prices will be $60 a barrel, up 9.1 percent from earlier projections, the analysts said.

Crude may average $50 a barrel in the second half and $55 next year in a bear case scenario, and reach $90 a barrel in the second half of 2009 and $100 in 2010 if the global economy recovers rapidly, the Magellan Associates report said.

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The Western Gray Whale Advisory Panel (WGWAP), composed of 11 scientists and representatives from Shell and Sakahlin Energy, met in April to discuss how oil and gas development affect the whales’ main annual feeding area off the northeastern coast of Sakhalin Island, Russia.

The scientists found that in 2008 there was a large decrease in the number of whales in their annual feeding area near the shore during a period of loud industrial activity, including a seismic survey.  This is significant because if the whales are displaced from this primary annual feeding area, they will have less success reproducing.

“Western gray whale cows with their calves feed near the shore, but the industrial noise resulting from oil and gas development activities is pushing them out of the area,” Doug Norlen from Pacific Environment.  “Any disturbance of these critically endangered whales’ behavior is particularly concerning as there are only 130 of them left.” 

However, Exxon, BP and Rosneft have refused to address their threats to the Western Gray Whale and these oil giants plan to carry out further activities in 2009 including seismic testing, construction and other loud activities that could displace whales from their annual feeding area.

The new information presented at this meeting  has heightened rather than diminished the Panel’s concern that whale distribution and behaviour may have been seriously affected by industrial activities – on land and offshore – in 2008,” according to the panel’s report.

Meanwhile, 35,000 people from across the world have signed on to a petition calling on five major oil companies including Exxon, BP and Rosneft to postpone any new development work in the vicinity of the Western Gray Whale feeding area this summer, and to work with experts find adequate measures to protect the critically endangered population. 

WWF is sending the petitions to oil companies this week, urging them to act immediately as the gray whales will start to arrive at their summer feeding area near Sakhalin in a couple of weeks.

“Tens of thousands of people are calling on Exxon, BP and Rosneft to immediately halt their potentially destructive activities at Sakhalin Island this summer, and these companies can either choose to act responsibly or stay their course and help push the western gray whale further toward extinction,” said Aleksey Knizhnikov, WWF Russia.

The panel reiterated it call for a moratorium on all development activities in the area this summer.   Because of those concerns, Sakhalin Energy – a partnership between Shell, Gasprom and other sharholders – agreed in April to cancel their proposed 2009 seismic activities in the whales’ feeding area.

The Western Gray Whale is one of the world’s most endangered whales, with only 25-30 breeding females remaining.

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