NEW YORK, Dec. 2 /PRNewswire-FirstCall/ -- Lucas Energy, Inc., a Houston, Texas based independent oil and gas company, and Terra Energy & Resource Technologies, Inc. (OTC Bulletin Board: TEGR), a natural resource exploration services technology company, announce that the Companies signed a Memorandum of Understanding (MOU) for a joint venture for development of oil and gas properties in Texas with application of Terra's innovative technologies.

The Companies stated their intention, via the non-binding MOU, to create a framework for a joint venture, combining oil and gas properties, new age technologies, and networking capabilities for the purpose of a more effective and efficient development of some of Lucas Energy's oil and gas leases.

"Lucas Energy's strategy is aimed at risk reduction, and we are excited that we can further reduce such risks in developing some of our properties utilizing the cutting edge technologies of Terra Energy & Resource Technologies," said Mr. William Sawyer, Lucas Energy's Chief Executive Officer.

"This framework embodies our vision for partnering, because we plan to use our innovative technologies' risk reduction, higher efficiency and effectiveness as investment capital, receiving back-end interests and non-promoted participation rights in exchange for our significantly discounted services," said Dmitry Vilbaum, Terra Energy & Resource Technologies' Chief Executive Officer. "We are pleased with the prospect of using our STeP analysis on two of Lucas Energy's projects in the near future and appreciate our partner's vision and appreciation for the value of innovative oil and gas technologies."

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.

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, its plans to acquire interests in 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:

Terra Energy & Resource Technologies, Inc.
212-286-9197
info@terrainsight.com

Lucas Energy, Inc.
(713) 528-1881
Michael Brette,J.D.
mikebrette@gmail.com
Mike King
mike@princetonresearch.com

SOURCE Terra Energy & Resource Technologies, Inc.

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http://www.terrainsight.com