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terra nova energy ltd (TGC) Details

Terra Nova Energy Ltd. engages in the acquisition and exploration of petroleum and natural gas properties. It has an option to earn a 55% interests in petroleum and natural gas rights comprising petroleum exploration licenses (PEL) 112 covering 2,196 square kilometers and PEL 444 that covers 2,358 square kilometers located in the Cooper/Eromanga basin in the northeast corner of the state of South Australia. The company was formerly known as Terra Nova Minerals Inc. and changed its name to Terra Nova Energy Ltd. in August 2012. Terra Nova Energy Ltd. was founded in 1980 and is headquartered in Vancouver, Canada.

Founded in 1980

terra nova energy ltd (TGC) Top Compensated Officers

Chairman and Acting Chief Executive Officer
Total Annual Compensation: --
Chief Financial Officer, Director and Member ...
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

terra nova energy ltd (TGC) Key Developments

Terra Nova Provides Petroleum Exploration License 444 and 112 Updates

Terra Nova Energy Ltd. announced the completion of the incremental reprocessing of Petroleum Exploration License (PEL) 444's Wingman 3D Seismic Survey (the 'Wingman Survey') and have begun the interpretation process on the data. The Wingman Survey, which covers an 84 square kilometers area of PEL 444, was acquired in the summer of 2013. Surveying, line clearing and recording operations were undertaken by Terrex Pty Ltd. of Perth Australia. The reprocessing of the seismic data using AVO analysis is expected to improve the success rate for blocks having largely stratigraphic traps. Terra Nova will release further updates including drilling schedules in due course. On August 26, 2014, the Government of South Australia announced the bid winners for the newly released Petroleum Exploration License blocks in the Cooper/Eromanga Basin. A total of 4 blocks (CO2013-A, B, C & D) were awarded to 3 companies for a total combined investment of up to $103.2 million. The CO2013 blocks (CO2013-A, B, C & D) cover an area of more than 9,000 square kilometres and possibly contain conventional and unconventional gas plays. Terra Nova's PEL 112 block is located in between the CO2013-A and CO2013-C blocks. The CO2013-A and CO2013-C blocks were won by Senex Energy Limited and Bridgeport Energy Pty Ltd. respectively. The winning bids for both of these blocks total a combined investment of up to $59.2 million - with a guaranteed spend of $53.4 million. The bidding results reaffirm management view on the prospective potential of Terra Nova's PEL 112 block. Terra Nova's PEL 112 block covers an area of 1,086 sq. km (525K acres) and was recently renewed for a further five-year term, and the areas with existing seismic and prospects have been retained.

Terra Nova Energy Provides Update on Petroleum Exploration License 444

Terra Nova Energy Ltd. announced that it has begun the reprocessing of the Wingman 3D seismic survey that was acquired on the company's Petroleum Exploration License 444 located in Cooper/Eromanga Basin, South Australia. The company first acquired the Wingman survey, which covers an 84 sq km area of PEL 444, in the summer of 2013. Subsequently, initial data processing of the Wingman was completed in November 2013. The data has since been analyzed in detail by members of the Terra Nova team and as many as nine prospects and leads were mapped earlier this year. The targets are all associated with the Birkhead Formation (Birkhead) which is the main producer in the Charo-Snatcher field and located approximately 21 km South-East of Wingman. When the company began the process of integrating the Charo-Snatcher field data with the Wingman survey, it became evident that producing wells in Birkhead have subtle stratigraphic features including channel sands and crevasse splays. These stratigraphic features have very distinct amplitude signatures on the seismic data further emphasizing the importance of amplitude-friendly processing. The Charo-Snatcher field is predominantly associated with light oil production but also has dissolved gas. It is believed that a portion of the amplitude response is influenced by the gas and techniques such Amplitude Versus Offset (AVO) can be utilized to determine the presence of hydrocarbon bearing Birkhead sand.

Terra Nova Energy Ltd., Annual General Meeting, May 20, 2014

Terra Nova Energy Ltd., Annual General Meeting, May 20, 2014., at 11:30 Pacific Daylight. Location: Suite 880. Agenda: To set the number of directors of the corporation for the ensuing year at six persons; to elect Henry Aldorf, Nico Civelli, Steven Harding, Robert McMorran, Mark Jarvis and Lyle Davis as directors of the corporation to hold office until the next annual general meeting of the corporation, or until such time as their successors are duly elected or appointed in accordance with the corporation's constating documents; to appoint KPMG LLP, Chartered accountants, as the auditors of the corporation until the next annual general meeting of the corporation and to authorize the directors of the corporation to fix the remuneration to be paid to the auditors; to receive the audited financial statements of the corporation for the financial years ended July 31, 2013 and 2012, and the accompanying report of the auditors; and to consider 10% ‘rolling’ stock option plan.


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