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PANCANADIAN TO PARTICIPATE IN THREE AUSTRALIAN EXPLORATION PERMITS

 CALGARY, Alberta, Aug. 17 /PRNewswire/ -- PanCanadian Petroleum Ltd. announced today the recent signing of an agreement to join Ampolex Ltd. of Sydney, Australia, to explore three offshore blocks in the Browse Basin of Western Australia.
 The three exploration permits cover 19,000 square kilometers, and require the subsequent acquisition of 720 kilometers of seismic and the drilling of one well in 1993.
 Ampolex Ltd. will be operator in all three permits, with a 65 percent interest in permits WA-212-P and WA-238-P and a 75 percent interest in the third permit, WA-240-P. PanCanadian's 25 percent interest in all three permits will be held by a wholly owned subsidiary, PanCanadian Petroleum (Australia) Limited. Bridge Oil Ltd. of Sydney, Australia is the third partner, with a 10 percent interest in Exploration permits WA-212-P and WA-238-P.
 -0- 8/17/93
 /CONTACT: Marion J. Wood, Corporate Communications of PanCanadian Petroleum, 403-290-2220/
 (PCP.)


CO: PanCanadian Petroleum Ltd. ST: Alberta IN: OIL SU: JVN

MF -- LA019 -- 3521 08/17/93 11:58 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
Words:166
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