Stock Information | SEDAR
Overview
View our presentation: PanTerra Presentation
PanTerra is a diversified junior public oil and gas company listed on the TSXV (PRC.V) with holdings in both conventional and unconventional projects in Western Canada. The Company has an operated production base of 110 BOPD and 100 Mcf/d gas (based on field estimates) with excellent optimization and exploitation potential. PanTerra has 27,679,591 shares outstanding, 33,813,006 fully diluted (yielding $2 Million in additional capital) approximately $16.7 Million of tax pools and a bank line of $2 Million.
PanTerra’s strategy is to focus on its oil producing projects with expandability and sustainability. The Company will maintain a high working interest and operatorship where possible. PanTerra plans to grow via the ‘drill bit’ and continue to acquire producing properties more heavily weighted towards oil.
PanTerra’s current conventional oil producing properties are located at Carrot Creek and Tomahawk in west central Alberta. The company also has two minor gas producing properties at Gadsby and Kirkpatrick Lake in central Alberta.
The company has been actively involved in an extensive re-evaluation and optimization of its 100% controlled oil properties at Tomahawk and Carrot Creek, Alberta.
PanTerra’s new focus on oil exploitation includes immediate well re-activations, re-entries and water-flood development at its Carrot Creek property. Recent activity at Carrot Creek has produced very positive results. Installation of a large pump-jack on our new 16-11 well along with electrification of all three producing wells and the 12-12 battery has been completed. Current production is approximately 65 BOPD (based on field estimates) all with reduced operating costs due to electrification, and the elimination of propane usage.
PanTerra just closed a farm-in agreement at Carrot Creek whereby it has acquired an additional half section of Cardium Rights completing the land requirements for Phase II of is ongoing water-flood project. The Company has also recently received regulatory approval to amend its EOR (Enhanced Oil Recovery Scheme) allowing it to move forward with the re-entering and re-equipping the Phase II wells and re-entering and equipping its newly acquired water source well. This will ultimately increase the company’s productivity in the future once the Phase II pool has been re-pressurized by voidage replacement.
At Tomahawk, numerous development wells are planned for 2012 with the recently announced signing of a joint venture and farm-in agreement between PanTerra and its partner. The first phase will consist of three Nordegg / Banff tests of which surface leasing, surveys and well license applications are underway. The first well is expected to spud by mid-year after spring break up and road restrictions have been lifted. PanTerra expects to drill up to 12 step-out wells on its existing land base under the far-in arrangement. Current production at Tomahawk is in excess of 50 BOPD (based on field estimates).
View our presentation: PanTerra Presentation