PanTerra Drills First Phase at Tomahawk, Alberta
CALGARY, Aug. 13, 2012 /CNW/ - PanTerra Resource Corp. ("PanTerra" or the "Company") announces that has finished drilling Phase One at its Tomahawk, Alberta property which consisted of three wells drilled to test and evaluate the Nordegg and Banff Formations. Each of the three wells was drilled to a total depth of approximately 1600 meters and cased as potential oil wells. Completion of these wells will take place over the next two to three weeks. The Company is currently acquiring surface leases for the drilling of an additional three wells in Phase Two of its proposed twelve well drilling program for this area.
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. The Corporation has an operated production base of 100 BOPD and 100mcf/day gas (based on field estimates) with 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.
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CO: PanTerra Resource Corp. ST: Alberta NI: OIL FIELD
-0- Aug/13/2012 16:33 GMT