Terra Energy Corp. (TSX:TT) considers putting itself on the block. The Board of Terra (company) established a committee of independent directors to review and evaluate possible opportunities to enhance shareholder value including the sale of oil and gas properties, entering into strategic alliances, mergers, restructuring or recapitalization of the company.

"Under the current market conditions, the company requires capital to further advance its business plan and grow value for shareholders. Terra will reach out and consider all opportunities to raise capital through the monetization of some or all of its assets, entering into strategic alliances and joint ventures or through a restructuring arrangement of the company," Brian A. Yaworski Q.C., Chairman of Terra stated.