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Pan Pacific Petroleum NL secures US$5M from asset sale to Repsol

The company is actively reviewing new oil and gas opportunities.
Pan Pacific is well funded

Pan Pacific Petroleum NL (ASX:PPP) has agreed to sell its 5% interest in Block 07/03 located in the Nam Con Son Basin in the South China Sea, to Repsol Exploracion S.A for US$5 million.

Following the sale, Pan Pacific will have no debts and circa US$16 million cash and liquid investments of US$3 million.

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