Brian Yaworski, Chairman of the Board of Directors of Terra Energy Corp. (TSX:TT) and Chairman of the Special Committee of Independent Directors of Terra, indicated that "Terra will continue to solicit proposals to deleverage and enhance shareholder value. Together with Black Spruce Merchant Capital, the Special Committee of Independent Directors of Terra is continuing to pursue and evaluate a variety of strategic transactions including the sale of additional oil and gas properties, joint venture opportunities as well as entering into strategic alliances, mergers, restructuring or a recapitalization of the Company."