Pan Pacific Petroleum (PPP)

Shares / Stock Code

PPP

Stock Exchange / Sharemarket

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Pan Pacific Petroleum (PPP) is a petroleum exploration and production company. It has interests in Carnarvon, Otway and Gippsland basins in Australia, as well as an offshore exploration permit, with promising discoveries in the Taranaki basin of New Zealand.Pan Pacific NL is a New Zealand registered company, listed on the ASX and the NZX. It has interests in New Zealand and Australia. The company was listed on the Australian stockmarket (ASX) in August 1979. Its head office is situated in North Sydney.

The company is concentrating most of its attention on the development of its oil discoveries in New Zealand's Taranaki basin and the drilling of other oil prospects in the nearby area.Most oil is sold into global spot markets, whilst gas is typically sold under long-term contract arrangements with utilities, large industrial users and steel plants. Key competitors include Rio Tinto, Woodside, CH4 Gas Ltd (CHX) and Bounty Oil & Gas (BUY).

Its business segment comprises petroleum exploration development and production industry. Petroleum exploration and development is managed from Sydney on a worldwide basis, but operate in three principal geographical areas: Australia, New Zealand and Asia. Its subsidiaries include Pan Pacific Petroleum (South Aust) Pty Ltd, Pan Pacific Petroleum (Vietnam) Pty Ltd, WM Holdings Limited and WM Petroleum Limited.