Terra Nova Energy Ltd. announced that it has entered into a mutual release and resignation agreement with outgoing Chairman, Chief Executive Officer and Director Norman Mackenzie who has tendered his resignation with Terra Nova. Terra Nova announced that Henry Aldorf, a director of Terra Nova, will be appointed as Chairman and acting Chief Executive Officer and Nico Civelli, also a director of Terra Nova, will be appointed as Vice-President Finance immediately following TSX Venture Exchange approval of the Release Agreement. Henry Aldorf's successful track record as an executive officer in the petroleum industry will be used to further Terra Nova's exploration and development program of its Australian petroleum exploration licenses.

The addition of Nico Civelli as Vice-President Finance will allow Terra Nova to significantly strengthen its links with the investment community. Mr. Aldorf has 37 years of experience in the petroleum and chemicals industry and is currently President of Pacific LNG Operations Limited and of Liquid Niugini Gas Limited and serves as Chairman of EFL Overseas Inc.