Terra Nova Energy LtdTSXV/AlphaV:TGCview on Grey Market »

May 21, 2013 - Vancouver - Terra Nova Energy Ltd. ("Terra Nova") announces that it has completed the shares for debt transaction previously announced on May 3, 2013. In accordance with the terms of the debt settlement agreement, Terra Nova issued 875,000 common shares at a deemed price of $0.11 per share to Apex Energy Consultants Ltd. to extinguish approximately $95,000 of debt. The shares issued by Terra Nova pursuant to this transaction are subject to a four month hold period expiring on September 16, 2013.

May 14, 2013 - Vancouver, British Columbia - Terra Nova Energy Ltd. ("Terra Nova") is pleased to update its shareholders and other interested parties on the progress of its Cooper Basin exploration efforts. Work Area Clearance ("WAC") on Petroleum Exploration License ("PEL") 112 access roads and drill site locations began April 20, 2013 and was completed on April 22, 2013. WAC is the process by which Australia's Native Title Holders review exploration sites to insure planned activity does not harm the cultural integrity of the land to be explored. Permits for roads and well site construction are expected in mid-to-late May 2013, with road construction and site preparation scheduled for completion in late June 2013. Terra Nova estimates that the first well will be drilled on PEL 112, subject to approvals and final rig availability, in mid-July 2013.