Pantheon Resources to acquire the remaining 10% of Talitha Unit from Otto Energy Alaska.

Pantheon Resources, a listed oil and gas exploration and production firm, agreed to acquire the remaining 10% of Talitha Unit, an energy project, from Otto Energy, an Australia-based company, which is engaged in investment in oil and gas exploration. Financial terms were not disclosed. "We will now have a 100% working interest in the Talitha Unit at the same time we are drilling ahead with the Talitha #A well. Following completion of this transaction, Pantheon will have a 100% working interest in all of its Alaska North Slope projects. Otto was a good partner and we welcome them as a shareholder where they can continue to enjoy exposure to the Talitha project as well as to the remainder of our Alaska North Slope portfolio," Jay Cheatham, Pantheon Resources CEO.