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
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.
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