Terrace Energy Corp. is in the business of acquiring, exploring and developing unconventional onshore oil and gas properties in the United States. The Company's activities focused on the prolific South Texas Cretaceous plays, including the Olmos tight Sandstone, Buda Limestone and the Eagle Ford and Pearsall Shale plays. The Company's two major projects are the STS (Olmos) Project and the Maverick County (multi-formation) Project. The Maverick County Project is located on a group of mineral leases covering approximately 147,000 gross acres in eastern Maverick and western Zavalla Counties, in south Texas. The Company's projects contain multiple, repeatable drilling locations, as well as additional target horizons slated for future evaluation. Additional projects are under evaluation in similar play areas in Texas.