PanTerra Closes Gadsby Acquisition

TSX-V: PRC

CALGARY, Jan. 5 /CNW/ - PanTerra Resource Corp. (The "Company") wishes to report that it has closed the previously announced acquisition of three gas wells at Gadsby, Alberta. The acquisition was made on the basis of $1,090 per flowing Mcf or $6,540 per flowing BOE. The effective date of the acquisition was October 1, 2009. Up-hole evaluations are currently being undertaken and the Company will be in the field in the near future conducting work-over operations.

PanTerra Resource Corp. is an Alberta-based producing oil & gas company which is focused on the exploration and development of conventional and unconventional potential in Western Canada. The Corporation holds 'rights' in excess of 1,000,000 acres in various properties in Western Canada. PanTerra trades on the TSX Venture Exchange under the symbol "PRC". 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 news 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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