Rheochem said it signed a 90-day option agreement with Pacific International Management to purchase its 50% shareholding in Zeus. Exercising the option would give it a 100% stake in Zeus.
The 90-day period will allow Rheochem to investigate funding opportunities for increased participation in Athena.
Zeus has a 10% interest in the Athena development. The other partners are operator Ithaca, with a 70% working interest, and EWE Aktien-gesellschaft on 20%.
