Pantera Petroleum, Inc. (PTPE.OB) is an oil and gas exploration company headquartered in Austin, Texas, with additional operations in Asuncion, Paraguay. Given the expected petroleum growth from 83 million barrels per day in 2004 to more than 118 million barrels per day by 2030, according to the U.S. Department of Energy, the company’s mission is to explore and discover energy supply in North and South America.
Petroleum prices are at historically high levels due to increased world energy demand and yearly supply shortfalls. In addition, 67 percent of the incremental growth is projected in the transportation sector, which has few substitutes for petroleum. Pantera Petroleum’s strategy is to acquire undervalued oil and gas assets that are currently producing petroleum and also explore new production areas utilizing high-tech discovery and exploration techniques.
Pantera Petroleum’s North American assets include a three-well project in Pecos County, Texas. This area has produced in excess of 5 trillion cubic feet of natural gas over the past 40 years. According to geological and engineering calculations, recoverable reserves are estimated to be more than 27 billion cubic feet of natural gas and 50,000 barrels of oil. In South America, Pantera Petroleum has rights to an 85 percent stake in five concessions totaling more than 6,050 square miles in Paraguay with combined potential reserves of 1,100 million barrels of oil.
Let us hear your thoughts: Pantera Petroleum, Inc. Message Board