Terra Energy & Resource Technologies and King Resources to Unite Efforts to Form a $50M Drilling Fund

NEW YORK, NY, Jun 30 (MARKET WIRE) --
Terra Energy & Resource Technologies, Inc. (OTCBB: TEGR), a natural
resource exploration services technology company, announces that the
Company has signed a Memo of Understanding with King Resources, LLC (KR),
according to which the Company and KR plan to form a joint venture
centered on the formation of a diversified oil and gas investment fund
(Fund), to raise up to $50 million, with the Company and KR serving as
general partners.

The plan is to significantly increase the Fund's exploration success rate
via investments that would be selected using the Company's advanced
proprietary exploration technologies, in addition to the traditional
industry due diligence. The Fund would initially concentrate on US onshore
late stage non-operated drilling projects. Terra Energy & Resource
Technologies, through a services subsidiary, will provide the Terra
Technologies to the Fund receiving 25% economic interest in the JV as well
as projected 2.5% equity and 5% carried interest in the Fund.

"Both Terra and King Resources are dedicated to the vision of innovative
exploration technologies, being of paramount importance in making the
exploration process significantly less risky and therefore substantially
more economically viable than the traditional industry approach. The
parties decided to unify their efforts because together they have a number
of unique technologies, inventor class specialists and scientists, top
managers, and strong industry and financial connections, creating a
powerful business entity," said Dr. Alexandre Agaian, President of Terra
Energy & Resource Technologies, Inc.

"The Fund's economics conservatively project for the investors to achieve
industry leading returns on investment at expedient distribution rates
based on investing in established projects ready for near term drilling
operations," said John King, King Resources' Chief Executive Officer. "We
project a sizable increase in exploration success rate due to utilization
of our innovative exploration technologies."

"It's very exciting that Terra Energy & Resource Technologies has found a
synergistic partner with the similar vision and credo to bring
substantially enhanced economic success to the exploration field through
new and exciting technologies," said Dmitry Vilbaum, the Company's Chief
Executive Officer.

About Terra Energy & Resource Technologies, Inc.

Terra Energy & Resource Technologies, Inc., through its subsidiary Terra
Insight Services, Inc., provides mapping and analysis services for
exploration, drilling, and mining companies related to natural resources
found beneath the surface of the Earth. The Company uses a suite of
innovative and efficient technologies, which facilitate the prediction and
location of commercially viable deposits of hydrocarbons, gold, diamonds,
and other natural resources and assesses them for any given geographic
area -- on or offshore. For more information, visit
http://www.terrainsight.com.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy any securities in the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any
state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such
registration is available.

Safe Harbor for Forward-looking Statements

This press release may contain forward-looking information within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, and is subject to the safe harbor
created by those sections. There are many factors that could cause the
Company's expectations and beliefs about its operations or its plans to
acquire additional exploration properties or technologies, plans to drill
or drilling results to fail to materialize, including, but not limited to:
competition for new acquisitions; availability of capital; unfavorable
geologic conditions; prevailing prices for oil, natural gas and other
natural resources; and general regional economic conditions.

For More Information, Please Contact:
Aero Strategic Advisory, A division of Aero Financial, Inc.
Ed Carter
702-982-7732

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