Terra Nova与Zeta Petroleum签署出让协议

Terra Nova Energy Ltd. (TSX VENTURE:TGC)(OTCQX:TNVMF) is pleased to announce that it has entered into a Farmout Agreement with Zeta Petroleum (Romania) S.R.L. to acquire up to an eighty percent (80%) participating interest in the Bobocu License, onshore Romania.

Terra Nova will be entitled to acquire an initial forty percent (40%) participating interest in the Bobocu Production License upon: (1) The drilling of one commitment side-track entering of an existing well (‘well’) on the License; and (2) Cash payments totaling USD $1,040,000, of which 40% of the cash payment will be paid on certain milestone events and 60% of the cash payments will be paid out of Terra Nova’s entitlement to future production.

Terra Nova may acquire an additional forty percent (40%) participating interest in the Bobocu Production License by drilling one additional exploration well to a total depth of 2,800 meters and making an additional cash payment totaling USD $1,040,000, of which 50% of the cash payment will be paid on certain milestone events and 50% of the cash payment will be paid out of Terra Nova’s entitlement to future production.