PanTerra Announces Share Consolidation to Become Effective October 16, 2009

    
    /THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
    U.S. PERSONS/

    TSXV "PAN"
    

CALGARY, Oct. 15 /CNW/ - PanTerra Resource Corp. (the "Corporation") is pleased to announce that the TSX Venture Exchange (the "TSXV") has issued a bulletin approving of the proposed consolidation of the Corporation's common shares at a ratio of 10 to 1 (the "Consolidation"). The Corporation's common shares will commence trading on a consolidated basis on the TSXV under the stock symbol "PRC" at the opening of trading on October 16, 2009. At the Corporation's special meeting of shareholders held on October 13, 2009, shareholders authorized the board of directors to consolidate the common shares of the Corporation at a ratio of 10 to 1, as more particularly described in the information circular of the Corporation dated September 14, 2009, which is available at www.sedar.com. The Corporation currently has 128,710,620 common shares issued and outstanding, and after giving effect to the Consolidation the Corporation will have 12,871,062 common shares issued and outstanding. The Corporation's name will not change as a result of the Consolidation.

PanTerra Resource Corp. is an Alberta-based producing oil and gas company currently producing approx. 60 BOPD and is focused on the exploration and development of conventional and unconventional potential in Western Canada. The Corporation holds 'rights' in various properties in Western Canada. PanTerra trades on the TSX Venture Exchange under the symbol "PAN". Further information can be found at www.panterraresource.com.

    
    Neither 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 Ikkuma Resources Corp.

For further information: For further information: Fred P. Rumak P.Geol., President and C.E.O. at (403) 261-5900, Email: fred@panterraresource.com; or Herve B. Collet, V.P. Operations/C.O.O. at (403) 261-5900, Email: herve@panterraresource.com


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