Pan Pacific Petroleum (PPP): The Australian Foreign Investment...

Pan Pacific Petroleum (PPP): The Australian Foreign Investment Review Board has told New Zealand Oil & Gas that is won't object to NZOG increasing its stake in the Australian oil company. NZOG last month acquired a strategic stake in Pan Pacific and now has voting rights of almost 15%. NZOG had sought approval to acquire up to 19.99% of Pan Pacific or make a full takeover. Pan Pacific rose 2 cents to 40 cents yesterday and has soared 21% in the past month.

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