PanTerra Obtains Credit Facility

TSX-V: PRC

CALGARY, May 6 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Company") is pleased to announce that it has obtained a $750,000.00 demand revolving operating credit facility and a $250,000.00 demand non-revolving acquisition / development credit facility. Both facilities are provided by a Canadian chartered bank. The credit facilities are subject to a review on or before October 1, 2011, at the sole discretion of the lender. The credit facility may be used for equipment and / or facility upgrades as the Company proceeds with ongoing work on its two 100% owned oil properties at Carrot Creek and Tomahawk, Alberta.

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 an operated production base of 75 BOPD and 100 Mcf/d gas with excellent optimization and exploitation potential.  Additionally PanTerra holds 'rights' in approximately 119,000 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.

For further information:

Fred P. Rumak P.Geol.    
President and C.E.O.    
403-261-5900      
Email:  fred@panterraresource.com 



 



Jake Pronk P. Geol  
V.P. Exploration
403-261-5900    
Email:  jake@panterraresource.com  

 

Profil de l'entreprise

PanTerra Resource Corp.

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