Tatham Offshore Inc.
PINK SHEETS : TOFF

May 31, 2006 07:11 ET

Tatham Offshore Signs Letter Of Intent To Acquire Patriot Energy Resources Inc.

TORONTO, ONTARIO--(CCNMatthews - May 31, 2006) - Tatham Offshore Inc. (PINK SHEETS:TOFF) announced today that it has signed a letter of intent to acquire 100% of the outstanding shares of Patriot Energy Resources, a junior oil and gas company.

According to the letter of intent, TOFF will undertake a reverse stock split of 1 for 1,000 and will issue a total of 50,000,000 restricted common shares post reverse split to the shareholders of Patriot Energy Resources Inc. and TOFF will change its name to Patriot Energy Corporation. The transaction will result in the company to have a total of approximately 70,000,000 shares issued and outstanding.

The companies expect to enter into a definitive acquisition agreement on or before June 6, 2006.

Important Information About Forward-Looking Statements

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Tatham Offshore Inc.
    Paul Reynolds
    (416) 854-8965
    or
    Patriot Energy Resources Inc.
    Alex Barta
    President
    (514) 991-2272