Pantera Petroleum, Inc.
OTC Bulletin Board : PTPE

Pantera Petroleum, Inc.

March 26, 2008 09:10 ET

Pantera Petroleum's Active Acquisition and Drilling Program Strongly Reiterate BUY Rating and $6.84 to $8.84 Target Valuation Range, According to Cohen Independent Research Group

AUSTIN, TEXAS--(Marketwire - March 26, 2008) - Pantera Petroleum, Inc. (OTCBB:PTPE)(FRANKFURT:4PP) -

In a research update dated March 15, 2008, Paul Cohen, President of Cohen Independent Research Group, has reiterated his "BUY" rating with a 12-18 month base case price target range of $6.84 to $8.84 for Pantera Petroleum, based upon net asset valuation and discounted cash flow analysis. Cohen cites multiple positives in his BUY recommendation: Pantera's acquisition of the Block 83 84 Project in the West Gomez field, progress on the seismic reprocessing in its Chaco Basin concessions in Paraguay, the recent reduction in shares outstanding, and the addition of Scott Tyson to the Board of Directors. The report update can be downloaded by going to Cohen Research's website or by directly using the following link:

Citing the Block 83 84 estimated recoverable reserves of more than 27 BCF gas and 50,000 barrels of oil (worth roughly $250 million based on current oil and gas prices) and its potential to produce 6,500 MCFGPD and 80 BOPD or greater, Paul Cohen states, "Pantera Petroleum's recent acquisition of its 10% stake in one of the most productive gas plays in the world, with immediate production prospects, will accelerate the Company's transition from a development to growth stage organization with rapidly increasing revenue generation. Based on the project's reserves and projected daily output with the steep growth in oil prices, this acquisition is likely to generate 20 times return on investment, reaffirming our belief in the Company's low-risk high-return philosophy. This coupled with the significant untapped reserves in Paraguay, which has potential reserves of 1.1 billion barrels of oil worth roughly $121 billion (based on current prices) strengthens our upside outlook on Pantera's common stock."

Paul Cohen adds: "Pantera is continuing to add personnel and expertise to accomplish its goals. The Company's experienced management team has been further strengthened by the addition of J. Scott Tyson, which will enable Pantera to take advantage of the immense opportunity presented by the unexplored Chaco Basin and growth in the U.S. market to generate exponential revenues in the near future." Moreover, Cohen states: "Mr. Tyson brings vast operational experience across the exploration and production value chain and is likely to help in the Company's smooth transition to a growth stage organization. Further, his knowledge and hands on experience will help Pantera in developing its U.S. market prospects."

Cohen further cites the recent share block cancellation of 27 million shares as having positive impact for shareholder value, stating, "As a result, Pantera now has 91.1 million shares outstanding, which is significantly less than the 116.4 million shares, prior to this share block cancellation. Investors should be aware of this positive development."

Paul Cohen concludes: "The Company's recent acquisition of its 10% working interest in the Block 83-84 Project in the West Gomez field in Texas will enable it to rapidly transition to revenue generation while further exploring the large potential in Paraguay. This approach - combining lower risk, cash flow properties in the U.S. with one of the largest onshore exploration plays left in the world today - should appeal to investors who want lower risk while also wanting huge upside potential. Pantera is executing its strategy well, and the Company is actively researching and negotiating possible additional U.S. acquisitions while it further explores drilling on its concessions in South America. With its recent acquisition in Texas with near term production, increasingly attractive prospects in Paraguay, and an active acquisition program, Pantera is in an ideal position to benefit from the projected continuation of high demand and high prices in the oil and gas industry. Based upon our projections, Pantera Petroleum is significantly undervalued; and the current pullback in the stock price coupled with the recent cancellation of shares outstanding offers investors an excellent buying opportunity today."

Commenting on the report, Chris Metcalf, CEO of Pantera, states: "We are making daily progress to enhance shareholder value, and it is pleasing for a third party to recognize our under-valuation, especially given the quality of our properties and the record levels of oil prices. As a U.S. company, our mission is to discover and produce oil and gas to provide our investors with a superior return while also helping return the U.S. economy to strength and energy security. We feel strongly that we are executing the right strategy with the right assets at the right time, and we can make a difference to U.S. energy supply. We continue to be very excited about our plans and the future."

About Pantera Petroleum

Pantera Petroleum, Inc. is a publicly traded oil and gas exploration company (OTCBB:PTPE)(FRANKFURT:4PP) headquartered in Austin, TX with operations in Asuncion, Paraguay. Our mission is to explore and discover new energy fields in North and South America. Our North American assets include a 10% working interest in the Block 83 84 Project in the West Gomez field in Texas, with combined potential reserves of 27 BCF of gas and 50,000 barrels of oil. In South America, Pantera has rights to five concessions in northern Paraguay, covering nearly 4 million acres, with combined potential reserves of 6.7 TCFE of gas or 1.1 billion barrels of oil.

About Cohen Independent Research Group

Led by D. Paul Cohen, Cohen Independent Research Group is Wall Street's #1 Independent Research Firm. As founder of Bear Stearns Western Regional Offices, D. Paul Cohen was one of the original 12 Dirty Dozen analysts, regarded by many to be the top 12 security analysts in the nation. Mr. Cohen was also the West Coast Senior Vice President of CBWL-Hayden Stone-American Express. Mr. Cohen's partners were Sanford I. Weill (past Chairman and CEO of CitiGroup and past Chairman of Salomon Smith Barney) and Arthur Levitt (past Chairman of the SEC).

Cohen Independent Research Group includes nine PhD's (three with MD's), two MD's, six CFA's (chartered financial analyst), three with CPA's (certified public accountant) and 21 analysts covering most industries. The Cohen Financial and Valuation Model, an analytical and portfolio management system, is a 100+ page income statement model with seven equity valuation and three cash flow analytical models, and it covers 9,000 public companies. Readers can visit the company's website at

Further Information

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

On behalf of the Board of Directors


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. 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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