Zeta Resources makes bid for Pan Pacific Petroleum, valuing target at A$29.4M

Fri, 10 Apr 2015

By Jonathan Underhill April 10 (BusinessDesk) - Zeta Resources, the ASX-listed investment group advised by Duncan Saville's ICM unit, has made a full takeover bid for Pan Pacific Petroleum, valuing the target company at A$29.4 million. Zeta, which currently owns 16.8 percent of PPP, is offering 5 Australian cents a share for the remaining shares. The stock last traded at 4.5 cents, down from 10.5 cents a year ago. PPP's assets include a 15 percent interest in the Tui field with NZ Oil & Gas, which has just closed a takeover offer for ...

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