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Pantera Petroleum Announces Addition of Senior International Executive

Pantera Petroleum Announces Addition of Senior International Executive

AUSTIN, TEXAS -- (MARKET WIRE) -- 07/01/08 -- Pantera Petroleum, Inc. (OTCBB: PTPE)(FRANKFURT: 4PP) is pleased to announce the addition of Juan Cabrera to its Board of Advisors.

About Juan Cabrera:

Mr. Cabrera is an executive with extensive international experience in strategic partnerships, sales and financial management, and corporate governance, having managed operations in Latin America and Europe for several multinational corporations. In his career, Mr. Cabrera has led contract negotiations in multiple languages with international governmental authorities and large institutions, primarily in the banking, technology and oil and gas sectors.

Most recently, Mr. Cabrera worked in London and served as VP of Operations for MRO Software, Inc. In this role he led a cross-section of executives and led the international integration team when MRO was acquired by Tivoli. Prior to that role, Mr. Cabrera resided in Amsterdam and served as the International General Counsel for BMC Software, Inc. overseeing operations and legal matters outside of the U.S. In this role, Mr. Cabrera was a member the European Management Team which managed strategy, operations and sales planning for the EMEA region. Prior to his tenure in Amsterdam, Mr. Cabrera worked for BMC in Latin America. In this role, he was part of a small team tasked with setting up operations and hiring and training management and operations executives for Latin America with a specific focus on Brazil, Argentina and Mexico. Prior to these roles, Mr. Cabrera served as Chief Technology Counsel for Amvescap, PLC, now Invesco, a leading international money manager with over $400 billion under management.

Mr. Cabrera currently serves on the Advisory Board of a privately held oil and gas exploration company and as Chairman for an international investment firm specializing in energy and real estate investment opportunities. Mr. Cabrera has a BBA in Marketing and a Juris Doctorate from the University Of Texas School Of Law. Mr. Cabrera is currently a member of the Texas Bar Association, International Bar Association and the American Bar Association.

"Juan brings international strategic partnership expertise and a long list of relationships that will be integral to our efforts as we further build our South American operations. Juan's experience and knowledge in Brazil and Argentina should be immensely beneficial, and we are very pleased to have Juan join our team," says Chris Metcalf, President and CEO of Pantera.

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 Midland and Pecos County, TX, and 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. In South America, Pantera has rights to five concessions in northern Paraguay, covering nearly 4 million acres.

Further Information

Shareholders and investors are encouraged to visit Pantera Petroleum's website www.panterapetroleum.com 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

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.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. In evaluating these statements, you should consider the risks discussed, from time to time, in the reports we file with the US Securities and Exchange Commission.

Contacts:
AMD Market Strategies
1-866-511-1147
Website: www.AMDStrategies.com / www.PanteraPetroleum.com

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