PanTerra Resource Corp. has commenced production from two of the three wells drilled this past summer (Phase One) at its Tomahawk property. Initial average gross production rates for the past seven days from the first two wells amounts to 230 BOPD (based on field estimates).

The third well has been completed and stimulated and is presently being set up for production. PanTerra emphasises that these are initial production rates and based on offsetting production history, the Company expects a 20 -30% decline in the first month of production.

PanTerra's net share is 45% or 103 BOPD (with no capital investment by PanTerra). Current total production net to PanTerra at its Tomahawk property is now at 143 BOPD, excluding rates as yet to be determined from the third well.

Tags: PanTerra Resource Corp.