CALGARY, Dec. 5, 2013 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Company") is pleased to announce that it has completed a 9.6 kilometer pipeline
at its Tomahawk, Alberta project. The line is going through its initial
start up phase and is expected to be fully operational by mid December.
The pipeline will allow the Company to produce from a particular well
that was drilled last year, but due to high Gas Oil Ratios, was
shut-in. This will result in an increase in both oil and gas production
net to PanTerra. The newly constructed line is also tied into all other
current producers at Tomahawk and will allow the Company to collect and
market solution gas that was formerly being flared. The new line is
expected to bring in extra net incremental revenue to replace the net
revenue the Company gave up in the sale of a portion of its Carrot
Creek project earlier this year. The Company also sees the potential to
drill more development locations along the new pipeline route as
economics for these potential wells have been enhanced due to the
Company's ability to collect and market the solution gas. Further, the
Company is in the process of licensing an Ostracod development location
on its Tomahawk West property which consists of 13 sections of land
recently acquired by PanTerra and its partner Insch Commodity Ltd.
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