/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS./ PAN - TSXV
At Tomahawk, the Company will further enhance net backs by installing gathering facilities to reduce transportation costs. The Company will also be re-activating a currently suspended well to further increase daily oil production.
At Carrot Creek new pumping equipment will be installed on suspended and producing wells to further increase production. The present battery will be upgraded to handle additional production from the newly equipped wells and a recently initiated Cardium water-flood. The Company is also investigating the possibility of drilling horizontal development wells in the Cardium on this property.
The Company is currently investigating other production acquisitions in Alberta and Saskatchewan.
Further the Company announces the resignation of W. G. Turnbull from its Board of Directors.
PanTerra Resource Corp. is an Alberta-based producing oil and gas company and is focused on the exploration and development of conventional and unconventional potential in Western
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.
For further information: For further information: Fred P. Rumak P.Geol., President and C.E.O. at (403) 261-5900, Email: [email protected]; or Herve B. Collet, V.P. Operations, C.O.O. at (403) 261-5900, Email: [email protected]
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