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Pan Pacific Petroleum

Pan Pacific Petroleum plans two Tui wells in 2013

The company has between three and six wells earmarked over the next 18 months.

Tui partners targeting bypassed Pateke North, PPP says

The well may offer between one million and four million additional barrels of oil.

Pan Pacific Petroleum in trading halt

Trading in Pan Pacific Petroleum’s shares has been suspended this morning, with a material announcement expected from the mining company soon.

The NZSX-listed Australasian company last month announced it was issuing options of up to $A2 million at a price of $0.70 each up to September 2011.

Pan Pacific Petroleum is hoping to get 90 million barrels out of its Loltoe prospect, with Oilex – its Timor Sea operator – currently drilling at the site.

Pan Pacific Petroleum to issue options worth $A2m

NZSX-listed Pan Pacific Petroleum is issuing options of up to $A2 million.

An NZX (PPP) announcement this morning said the Australian company would issue the options at a price of $0.70 up to September 2011.

Oilex Ltd, the company’s Timor Sea operator, last week announced it would plug and abandon the Lore-1 well, after initially targeting prospective oil resources of 195 million barrels.

Pan Pacific Petroleum Timor Sea drilling moves on, no success from first well

NZX-listed Pan Pacific Petroleum’s Timor Sea drilling program is moving on to another prospect after no moveable hydrocarbons were found in its first well.

It was targeting prospective oil resources of 195 million barrels.

The Australian company (NZX:PPP), which is has a 10% equity in the Tui oilfields along with New Zealand Oil & Gas (12.5%), Australian Worldwide Exploration (42.5%) and Mitsui E&P Australia Pty (35%), also has assets in Western Australia.

Pan Pacific Petroleum Timor Sea drilling underway

Australian oil company Pan Pacific Petroleum is continuing its drilling program in the Timor Sea, targeting prospective oil resources of 195 million barrels.

The company (NZX:PPP), which is has a 10% equity in the Tui oilfields along with New Zealand Oil & Gas (12.5%), Australian Worldwide Exploration (42.5%) and Mitsui E&P Australia Pty (35%), also has assets in Western Australia.