09:32 AM EST - Terra Energy Corp. : released its second-quarter financial statements for the. Highlights include a 58.5% increase to 5,412 barrels of oil equivalent ("boe") per day from 3,414 boe per day in the second quarter 2008. During the second quarter, the Company generated positive cash flow from operations of $4.7 million($0.06 per basic and diluted share) and an operating netback of $13.70 per boe. Gross revenue for the second quarter 2009 decreased 42.1% to $12 million from $20.8 million in the same period of 2008. The decrease was largely attributable to falling natural gas prices . Production expense decreased by 38.6% to $7.42 per boe in the second quarter 2009 compared to $12.08 per boe during the same period in 2008. Terra Energy Corp.
shares T.TT are trading even at $1.25.
