PanTerra Resource Corp.

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
0MM
Description

PanTerra Resource Corp. has retained Sayer Energy Advisors to sell working interests in the Tomahawk and Carrot Creek areas of central Alberta.

The package includes working interests ranging from 92% to 100% in nine producing oil wells just west of Edmonton. PanTerra operates both properties.

At Tomahawk, PanTerra operates seven producing oil wells. Current production is approximately 45 barrels of oil per day net from the Nordegg and Banff formations. Upside includes operational and drilling opportunities, and possible horizontal drilling.

Carrot Creek is currently producing a total of approximately 25 barrels of oil per day from two 100% interest Cardium oil wells. The company has identified the potential to expand an existing waterflood project, undertake operational improvements and drill horizontal wells on the property.

The bid due date is June 24. The effective date is June 1. The bid due date is June 24. Contact Alan Tambosso, 403-266-6133, atambosso@sayeradvisors.com.