Terra Energy Corp. announced audited financial results for the year ended December 31, 2013. For the year, the company reported revenue before royalties of CAD 42.361 million against CAD 45.413 million a year ago.

Loss before income taxes and other income was CAD 10.411 million against CAD 84.231 million a year ago. Net income was CAD 1,891 million against net loss of CAD 49.977 million a year ago. Fully diluted NAV per share as at December 31, 2013 was CAD 1.81 compared to CAD 1.62 for the same period a year ago.

Net debt as at December 31, 2013 was CAD 20,982,000 compared to CAD 77,247,000 at the same period a year ago.