Oil.
http://www.panterapetroleum.com/Given its location to major oil and gas producers, Paraguay, a country with a landmass roughly the size of California, is one of the most under-explored regions of the world. The world's unquenchable thirst for oil and gas, in concert with a pro-U.S. democratic government that has been firmly in place for nearly twenty years, is causing this situation to change rapidly. Recent political and economic changes in the country, coupled with the establishment of gas imports to southern Brazil from Bolivia and increased oil prices, place Paraguay as a compelling area for exploration. These attractive dynamics have led Pantera Petroleum to take the lead in a major opportunity.
OUR CONCESSIONS
Pantera Petroleum Inc. has rights to an 85% stake in five concessions located in northern Paraguay, covering 3,872,000 acres, or 6,050 square miles, with combined estimated potential reserves of 6.7 TCFE of gas or 1100 million barrels of oil. (1)
CURUPAYTY SUB-BASIN
Pantera Petroleum has rights to four concessions in the Curupayty Sub-Basin, covering approximately 27% of the prospective area in the Sub-Basin, with total potential reserves of 6.5 TCFE if gas or 1080 million barrels if oil. (2) The concessions are named Pantera (1,158 sq. miles), Toro and Bahia Negra (combined 2,780 sq. miles), and Cerro Cabrera (1,996 sq. miles). They are also located in the eastern extensions of the prolific Chaco Basin, where, in Bolivia and Argentina, significant reserves of gas, oil and condensate have been discovered. The tracts are prospective for oil and gas in the same stratigraphic zones that produce in Bolivia and Argentina.
The Pantera concession, 1,158 sq. miles in area and located on the border with Bolivia, is highly prospective and should yield excellent prospects and leads. It is located in the middle of the Sub-Basin where sand quality should be excellent. This is confirmed by the Phillips Pantera 1 well, drilled in 1995. It encountered excellent sand development in the middle and lower Carboniferous formation. Phillips had identified two prospect leads on
what is now the Pantera license, and there is sufficient additional area within the license to yield even more prospect leads.
The Toro concession, 927 sq. miles in area, is located in the Sub-Basin in north central Paraguay. The Bahia Negra concession, 1,853 sq. miles in area, is located at the southern end of the Sub-Basin in north central Paraguay. The Toro and Bahia Negra tracts are near two wells with oil and gas shows and are located in an area prospective for oil or gas production.
The Cerro Cabrera concession, 1,996 sq. miles in area, is located in northern Paraguay on the Bolivian border. It is located directly across the Izozog High from the Mendoza 1-R well that tested gas from two zones and 149 miles from the nearest producing fields in Bolivia.
CARANDAYTY SUB-BASIN
Pantera has the Tagua Concession of 116 sq. miles covering 1.2% of the prospective area in the Sub-Basin with estimated potential reserves of 0.2 TCFE. (3) The Tagua tract is located in the Sub-Basin on the border with Bolivia. It is approximately 12 miles from a Paraguayan well (Mendoza 1-R) that tested gas from two zones and approximately 68 miles from the nearest producing field in Bolivia.
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