CLAREN ENERGY CORP

Claren Energy Corp., formerly Terra Nova Energy Ltd., is engaged in the acquisition and exploration of petroleum and natural gas properties. The Company's geographical segments include Canada and Australia. It holds interest in onshore petroleum exploration licenses (PELs), including PEL 112 and PEL 444. Its PEL 112 consists of over 1,090 square kilometers and PEL 444 consists of over 1,170 square kilometers. Its properties are located on Western flank of the Cooper-Eromanga Basin in the northea... stern sector of the state of South Australia. It has a farmout agreement with Zeta Petroleum to acquire over 80% participating interest in the Bobocu License, onshore Romania. The Bobocu gas field is located in the foreland basin of the Carpathians over 150 kilometers North East of Bucharest, Romania. It focuses on acquiring over 40% participating interest in the Bobocu Production License by drilling exploration well to a depth of over 2,800 meters. It has not generated any revenues.