VOL. XL No. 1728-April-1997
PanCanadian Relinquishes Share In Sirte BasinBlocks
PanCanadian Petroleum Ltd. relinquished its 15% equity share in three SirteBlocks to Fina France SA about one month ago "for no financialconsideration," according to PanCanadian chief executive David Tuer on 17April. A PanCanadian spokesman revealed that the Petrofina-led consortium hadcompleted 10 wells in a 12-well program and only one had encounteredhydrocarbons, albeit in uncommercial quantities.