Crew Energy Inc. (TSX:CR) agreed to acquire of 36,000 net acres of primarily liquids rich montney land in British Columbia from Terra Energy Corp. (TSX:TT) for CAD 22 million on December 4, 2012. Crew Energy has an option to acquire additional 140 sections of land by March 15, 2013 for CAD 56 million. The deal includes sale of 57 net sections of Montney rights. In a related acquisition, Crew Energy agreed to sell 15,800 net acres of liquids rich Montney land in the Kobes area for CAD 108 million. The proceeds from the sale of Terra's Monias assets will have an immediate impact in strengthening the Terra's balance sheet and reducing total indebtedness. The option, if exercised, is expected to close by March 31, 2013.

Crew Energy Inc. (TSX:CR) completed the acquisition of 36,000 net acres of primarily liquids rich montney land in British Columbia from Terra Energy Corp. (TSX:TT) on December 14, 2012. Terra Energy Corp. used the proceeds from sale to reduce its total indebtedness including the reduction of the Company's credit facility to CAD 70 million.