CALGARY, Sept. 28, 2011 /CNW/ - PanTerra Resource Corp. (TSXV: PRC) ("PanTerra" or the "Company") is pleased to announce that due to recent activities at its 100% held
Tomahawk and Carrot Creek, Alberta properties, daily oil production has
increased by 100 % to 150 barrels of oil per day with gas production of
100 mcf per day for a daily total of 155 BOEPD (Gas to Oil @ 20:1).
PanTerra's production increases have been achieved by completing the
new 7-35 Tomahawk well, which is producing from the lower most of three
potential pay zones and is producing un-stimulated. Production has
increased at Carrot Creek as a result of bringing on the recently
re-completed 16-11 well. The well is currently producing at a
restricted rate pending increasing voidage replacement with a planned
acceleration of the Phase I water-flood program. This production
increase will greatly enhance the Company's net cash flow, allowing the
Company to further proceed with development work on both properties in
the form of re-activations, re-equipping and development drilling.
PanTerra is a diversified junior public oil and gas company listed on
the TSXV (PRC.V) with holdings in both conventional and unconventional
projects in Western Canada. The Company has a current operated
production base of 150 BOPD and 100 Mcf/d gas (155 BOEPD) with
excellent optimization and exploitation potential. Additionally
PanTerra holds 'rights' in approximately 120,000 acres in various
properties in Western Canada. PanTerra trades on the TSX Venture
Exchange under the symbol "PRC".
Company information can be found at: www.panterraresource.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE PanTerra Resource Corp.
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