This went out last friday to a 100,000 recipients. It is paid for by the company. So why would PPP all of a sudden be spruiking their company. Something must be happening.
"TONIGHT’S EMAIL IS SPONSORED BY PAN PACIFIC PETROLEUM NL, an Australian oil company with exploration and production assets in New Zealand and Western Australia. Over the past year, the Company has been transformed, largely as a result of its prime asset – 10% equity in the prolific Tui Area Oilfield, in the Taranaki Basin, New Zealand.
The benefits of this asset were reflected in the Company’s 2007-08 results which achieved a record after tax profit of A$52 million.
The Company’s most significant development during the year was completing the Tui project and bringing the field into production on time and on budget. This was an outstanding achievement by the Operator AWE. Production from Tui has largely insulating Pan Pacific from the current turmoil in the markets by providing a debt free cash balance in the bank. As of the end of October, Pan Pacific held cash balances equivalent to A$150 million.
Pan Pacific is one of the few companies able to benefit from the current business environment – it has strong cash flows and no debt, as well as being a nimble company that can move quickly to take advantage of opportunities that are presented to it.
For more information about Pan Pacific CLICK HERE: http://www.australianinvestor.com.au/linkt.aspx?id=245 "
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