March 25 (Reuters) - Otto Energy Ltd OEL.AX :
* ALASKA DEPARTMENT OF NATURAL RESOURCES FORMALLY APPROVED SALE OF CO'S ALASKA ASSETS TO PANTHEON RESOURCES
* PANTHEON WILL NOW ISSUE 14.3 MILLION NEW SHARES TO OTTO
* APPLICATION HAS BEEN MADE TO LSE FOR ADMISSION OF PANTHEON'S SHARES, WHICH IS EXPECTED TO BE APPROVED THIS WEEK