Alaskan authority approves Pantheon acquisition of Great Bear Companies

Oil and gas exploration company Pantheon Resources updated the market on its acquisition of the Great Bear Companies on Wednesday.

The AIM-traded firm, which holds a working interest between 50% and 75% in a number conventional project areas in Tyler and Polk Counties, onshore East Texas, said that approval of the acquisition had now been granted by the Department of Natural Resources of the State of Alaska.

“The capital raising and the acquisition remain subject to the conditions set out in the company's announcement on 21 December,” the board said in its statement.