CALGARY, July 29, 2013 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Company") is pleased to announce that it has received a letter of intent from
Insch Commodity Ltd ("Insch") committing a further Five Million Dollars ($5,000,000) in future
funding for "go-forward" joint venture projects that PanTerra and Insch
are currently involved in. This funding will be utilized for the
drilling of several new wells at the Company's Tomahawk project as well
as the immediate commencement of the Carrot Creek Phase II Water-flood
and Enhanced Recovery scheme.
PanTerra is a diversified junior public oil and gas company listed on
the TSX Venture Exchange ("TSXV") under the symbol "PRC", with holdings in both conventional and
unconventional projects in Western Canada that have excellent
optimization and exploitation potential. 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. at 403-261-5900
Jake Pronk P. Geol
V.P. Exploration at 403-261-5900