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PGYC Receives Buyout of $0.57 Per Share

Patriot Energy Corp.

(Public, OTC:PGYC)

About: Patriot Energy Corp., formerly Tatham Offshore Inc., has provided offshore contract drilling services to the oil and gas industry in the Gulf and Atlantic Canada. The Company had been engaged in the development, exploration and production of oil and gas reserves located primarily in the Gulf focusing principally on the flextrend and deepwater areas. The Company has refocused its business from the oil and gas exploration and production business in the Gulf to an integrated frontier investment strategy targeting Atlantic Canada.

Previous News: I have profiled this company’s buyout on April/6/09.

Current News: Patriot Energy Corporation (OTC:PGYC) announced that it has received a revised and final all cash stock purchase offer at $0.57 per share, however the royalty shares have been eliminated to allow for a larger upfront purchase price.

According to the company, shareholders will vote on the purchase offer on June 9, 2009 at a special meeting of shareholders. The company is currently finalizing all proxy and information circular and said documents will be available for shareholders on the company’s website and by mail by no later than May 15, 2009.