Pan Pacific, NZOG to sell Tui

PAN Pacific Petroleum and New Zealand Oil & Gas have joined AWE and in agreeing to sell their interest in the Tui Area oil fields in NZ’s Taranaki Basin to Malaysia’s Tamarind Energy.

Pan Pacific, NZOG to sell Tui Pan Pacific, NZOG to sell Tui Pan Pacific, NZOG to sell Tui Pan Pacific, NZOG to sell Tui Pan Pacific, NZOG to sell Tui

Tui FPSO tanker.

Tamarind will pay $400,000 for Pan Pacific's stake, which means Pan Pacific will make a net payment of $US5.45 million ($A7.