Thanks for all the replies and links! Very helpful as always! I'm not too worried about restoring/upgrading it.. I know it's definitely not going to be the easiest or cheapest to restore.. but I like a challenge ;o)....and I've worked on quite a few bikes including an old french frame or two.

Does anyone have an idea what year this might be from? I was thinking 70's origonally but from what I've heard about Terrot and the Peugeot bikes with the Terrot brand label that's not possible? I know Terrot was bought over by Peugeot in 1958 and stopped branding the models 1961. I don't know if this is right though?