Pantera Petroleum, Inc.
OTC Bulletin Board : PTPE

Pantera Petroleum, Inc.

December 19, 2007 09:15 ET

Pantera Petroleum Announces New Advisory Board Member

AUSTIN, TEXAS--(Marketwire - Dec. 19, 2007) - Pantera Petroleum, Inc. (OTCBB:PTPE) is pleased to announce the addition of Greg Pendura to its Board of Advisors.

About Greg Pendura:

Mr. Pendura has more than 35 years of experience in founding, financing, and advising emerging private and public companies. Mr. Pendura recently retired as President, CEO, and Chairman of the Board of Resin Systems Inc., a publicly traded international corporation that develops innovative advanced material products for large-scale industrial markets. During his 12 year tenure with Resin Systems Inc., he was instrumental in the Company achieving a market capitalization of over $200 million as well as raising in excess of $100 million during its formative years.

Mr. Pendura brings significant international transactional and corporate governance experience, and he has most recently served alongside Rt. Hon. Jean Chretien, former Prime Minister of Canada, on the advisory board of BelAir Global Minex Resource Corporation. Mr. Pendura earned a Masters of Education degree from the University of Arizona, and a Bachelors of Education degree from the University of Alberta.

"We are excited to have Greg Pendura join Pantera Petroleum as the Company moves rapidly to execute its exploration and development plans," says Chris Metcalf, President and CEO of Pantera. "Greg brings a seasoned financial acumen, a vast network of international relationships, and a track record of success that will greatly benefit the Company and our shareholders."

Further Information

Shareholders and prospective investors are encouraged to visit Pantera Petroleum's website www.panterapetroleum.com and download Pantera Petroleum's Investor Summary. Please feel free to call investor relations toll-free at 1-866-511-1147 to receive a full corporate investor's package.

About Pantera Petroleum

Pantera Petroleum, Inc. is a publicly traded oil and gas exploration company (NASDAQ OTCBB:PTPE) headquartered in Austin, TX with operations in Asuncion, Paraguay. Our mission is to explore and discover energy supply in North and South America. Our strategy is to acquire and explore known, but under-explored, production areas with the most modern exploration and discovery techniques. Pantera Petroleum Inc. has rights to five concessions in northern Paraguay, covering nearly 16,000 square kilometers, with combined potential reserves of 6.7 TCFE of gas or 1100 million barrels of oil.

On behalf of the Board of Directors

PANTERA PETROLEUM, INC.

Chris Metcalf, President and CEO

Legal Notice Regarding Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, successful closing of the rights to explore by the relative governing bodies, and our ability to participate in the exploration of, and successful completion of development programs on, the relevant concessions. Additional information on risks for the Company can be found in filings of the Company with the US Securities and Exchange Commission.

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