I have been always wondering why this feature is not pre-loaded into Ubuntu. Often times, one is in a particular location (path) within the file system (while using GUI file browser) and would like to open a terminal with the path defaulted to that particular location. I have been always thinking that this should have been as easy as right clicking and opting to open a terminal. Unlike some other Linux distros, it is not the case in ubuntu. But there is a work around for this problem. Just type:
sudo aptitude install nautilus-open-terminal
and the reuiqred package will be downloaded and installed. You probably would need to restart your computer before you can see the option. After restarting, open a GUI file browser and right-click. You should be able to see the option of opening a terminal in that particular path.