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.