Terra Energy Provides Guidance and Announces 2009 Capex Plan

Terra Energy Corp. (TSX VENTURE:TTR) ("Terra Energy" or the "Company") is
pleased to provide guidance in relation to 2009 and announce its Capital
Expenditure Plan and Budget ("Capex Plan") for 2009.


Guidance

Cash flow from operations has been forecasted at approximately $38 million for
2009 based upon an estimated average natural gas price of $5.95 per GJ for the
calendar year, an estimated average oil price of $45.00 per barrel and an
average 2009 production rate by the Company of 6,100 boed.


Capex Plan

Terra Energy is pleased to announce that its board of directors has approved the
Capex Plan for 2009 in the amount of approximately $37 Million. The Company's
2009 Capex Plan is designed to be funded entirely from the Company's cash flow
from operations and targeted at keeping the Company's production at or above its
current production levels.


"As the credit, equity and commodity markets continue to be plagued with
uncertainty, the Company will continue to act prudently and live within its
means. In the meantime, our strong balance sheet affords us the opportunity of
not only growing organically through the drill bit but also to consider
accretive transactions." said Cas H. Morel, President and CEO of Terra Energy,
"The current environment may give rise to many acquisition opportunities which
have even better metrics than our $13.00 historic F&D cost."


The 2009 Capex Plan will be focused on opportunities within the Company's Fort
St. John core area and the greater Peace River arch, where the Company owns over
250,000 net acres of undeveloped land. The Company will continue to drill
natural gas opportunities having a low development risk or alternatively
exploration wells having multi-zone potential. The Company is in the process of
building an inventory of oil targeted prospects.


Terra Energy's updated investor presentation is now available on the Company's
website at www.terraenergy.ca.


READER ADVISORY

A BOE conversion ratio of six thousand cubic feet per barrel (6mcf/bbl) of
natural gas to barrels of oil equivalence is based upon an energy equivalency
conversion method primarily applicable at the burner tip and does not represent
a value equivalency for the individual products at the wellhead. Such disclosure
of BOE's may be misleading, particularly if used in isolation.


This media release may contain forward-looking statements including expectations
of future production, cash flow and earnings. These statements are based on
current expectations that involve a number of risks and uncertainties, which
could cause actual results to differ from those anticipated. These risks
include, but are not limited to: the risks associated with the oil and gas
industry (e.g. operational risks in development, exploration and production;
delays or changes in plans with respect to exploration or development projects
or capital expenditures; the uncertainty of reserve estimates; the uncertainty
of estimates and projections relating to production, costs and expenses, and
health, safety and environmental risks), commodity price, price and exchange
rate fluctuation and uncertainties resulting from potential delays or changes in
plans with respect to exploration or development projects or capital
expenditures. Additional information on these and other factors that could
affect Terra Energy's operations or financial results are included in Terra
Energy's reports on file with Canadian securities regulatory authorities.


Terra Energy is a junior oil and gas company engaged in the exploration for, and
development and production of, natural gas and oil in Western Canada. Terra
Energy's common shares trade on the TSX Venture Exchange under the symbol 'TTR'.

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