Terra Energy Corp. reported earnings results for the first quarter ended March 31, 2015. For the quarter, the company's net revenue was CAD 6.345 million compared to CAD 8.309 million a year ago.

Loss before income taxes and other income was CAD 7.365 million compared to CAD 2.892 million a year ago. Net loss and comprehensive loss was CAD 7.27 million, or CAD 0.07 loss per share, compared to a net loss and comprehensive loss of CAD 2.91 million, or CAD 0.03 loss per share, for the same quarter ended March 31, 2014. Petroleum and natural gas revenue was CAD 5.81 million, compared to CAD 13.24 million for the same quarter ended March 31, 2014.

Petroleum and natural gas revenues, net of royalties for the first quarter ended March 31, 2015 were CAD 4.87 million, compared to earnings CAD 9.91 million for the same quarter ended March 31, 2014.