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
Tui still attractive for Pan Pacific
Tui still attractive for Pan Pacific
Tui still attractive for Pan Pacific
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.

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