PanTerra Completes 9.6 km Pipeline at Tomahawk
December 05 2013 - 9:00AM
PR Newswire (Canada)
TSX-V: PRC
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.
About PanTerra
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.
Copyright 2013 Canada NewsWire
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