VANCOUVER, May 11, 2016 /CNW/ - Terrace Energy Corp. (the "Company" or "Terrace") (TSXV: TZR, OTCQX: TCRRF; Germany: 2TR) is pleased to announce that the Supreme Court of British Columbia has granted a final order approving the Company's previously announced plan of arrangement (the "Arrangement"). Pursuant to the Arrangement, all of the Company's outstanding 8% convertible unsecured notes due April 2, 2018 (the "Existing [...]
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ VANCOUVER, April 8, 2016 /CNW/ - Terrace Energy Corp. (the "Company" or "Terrace") (TSXV: TZR, OTCQX: TCRRF; Germany: 2TR) today announced that, further to the Company's previous press release dated March 31, announcing its restructuring plans, the Supreme Court of British Columbia (the "Court") has issued an interim order [...]
VANCOUVER, March 31, 2016 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, Germany: 2TR) announces the following restructuring plans to preserve cash and protect the prospective value of its business. Dave Gibbs, the Company's President and Chief Executive Officer, commented: "Current market conditions and the near term projected outlook for the oil and gas industry require that we take immediate [...]
VANCOUVER, Jan. 27, 2016 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, Germany: 2TR) announced today that it will not be making the January 31, 2016 interest payment on its 8% convertible unsecured notes (the "Notes") due 2018. Pursuant to the terms of the Indenture, interest payments are payable on a quarterly basis, on the last day of January, April, July and October in each fiscal year of the [...]
VANCOUVER, June 3, 2015 /CNW/ - Terrace Energy Corp. (the "Company" or "Terrace") (TSXV: TZR, OTCQX: TCRRF, FRANKFURT: 2TR) is pleased to provide the following operations update to its security holders. Dave Gibbs, the Company's President and Chief Executive Officer commented: "The last year was both transformative and challenging. We were able to achieve many of our exploration and development objectives. Most notably [...]
VANCOUVER, April 14, 2015 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, FRANKFURT: 2TR) reports continuing positive results and progress on its STS Olmos Development Project in McMullen and LaSalle Counties, Texas. The Company previously reported initial flow back testing reports on the second three-well pad, the STE #1-5H, #2-5H and #3-5H pad at a combined initial rate of 2,821 BOEPD. Stabilized [...]
VANCOUVER, March 5, 2015 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, FRANKFURT: 2TR) reports continuing positive results and progress on its STS Olmos Development Project in McMullen and LaSalle Counties, Texas. The Company and its partner recently completed the second set of three horizontal wells with an average lateral length of approximately 5,500 feet in the Olmos Sandstone Formation and [...]
VANCOUVER, Jan. 8, 2015 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, FRANKFURT: 2TR) reports on Initial Production results from its first multi-well pad drilling program on its STS Olmos Development Project in McMullen and LaSalle Counties, Texas. The Company and its partner recently completed three horizontal wells with an average lateral length of approximately 5,500 feet in the Olmos [...]
VANCOUVER, Dec. 15, 2014 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, FRANKFURT: 2TR) provides the following update to its shareholders and convertible noteholders. Dave Gibbs, the Company's President and Chief Executive Officer commented: "The Company has taken steps to adjust its capital budget and development plans in response to the drop in commodity prices. While these adjustments will slow [...]
VANCOUVER, Nov. 10, 2014 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, FRANKFURT: 2TR) reports that the development drilling program is well underway on the Company's STS Olmos Development Project, McMullen and LaSalle Counties, Texas. Drilling operations are complete on the project's first three-well pad, the STS Section 6 pad, in McMullen County with each well encountering the targeted zone [...]
VANCOUVER, Oct. 16, 2014 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, Germany: 2TR) is pleased to announce that it has completed its previously announced plan of arrangement, pursuant to which the Company's outstanding 8% convertible unsecured notes due April 2, 2018 were exchanged for new notes. The Notes are expected to commence trading on the TSX Venture Exchange under the symbol "TZR.DB" at [...]
VANCOUVER, Oct. 15, 2014 /CNW/ - Terrace Energy Corp. (the "Company") (TSXV: TZR, OTCQX: TCRRF, FRANKFURT: 2TR) is pleased to report Initial Production test results of 986 boepd from its first well, the Quintanilla OL 1H, on its NW AWP Project. The well was connected to well test equipment for flow back operations on October 10. The well was tested for approximately 76 hours on various choke sizes with a maximum reported [...]
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