Terrex Energy – Enhanced Oil Recovery (EOR)

Terrex Energy Inc. is an energy company engaged in the acquisition and exploitation of oil properties with significant new reserve addition potential in Western Canada using proven and emerging high impact technology.

Terrex is primarily focused on a longer term strategy of growing oil reserves and production through applying improved and enhanced oil recovery (“IOR and EOR”) technologies to existing under-exploited oil accumulations. Original oil initially-in-place (“OOIP”) in the WCSB, excluding the oil sands, is estimated by the Energy Resources Conservation Board (“ERCB”) to be over 100 billion barrels of which less then 25% will be recovered through traditional recovery techniques. IOR and EOR technology and processes may result in total recoveries in excess of 50% of the OOIP.

Terrex intends to acquire interests in producing medium and light oil properties to apply proven processes to improve and enhance production and access additional recoverable reserves. Terrex management believes the number of mature light and medium oil reservoirs in the WCSB provide numerous opportunities to apply the Company’s reservoir and process specific development strategy. Government royalties for such schemes are favourable.  The environmental footprint is minimized as existing wells and infrastructure are utilized for the most part. 

On June 23 2010, Terrex began trading on the Toronto Venture Exchange under the symbol TER and has raised $15 million to date for exploitation of its first pool and technical evaluations of further opportunities.