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OIL

Tui still attractive for Pan Pacific

THE offshore Taranaki Tui Area oil field remains central to Pan Pacific Petroleum's financial strength, continuing to deliver a positive cash flow with gross operating profits, after royalty payments, of $A24 million for the June financial year.

Tui still attractive for Pan Pacific

Pan Pacific had stepped up its exploration effort, investing $A29 million in new drilling during the year, with the intent of replacing declining reserves, but this proved unfruitful. "The exploration...

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