In December 2008, NZOG acquired a strategic stake of 15% in Pan Pacific Petroleum (PPP), one of NZOG's partners in the Tui area oil fields. PPP is an Australian-based E&P company.
NZOG identified a value creating opportunity to acquire a cornerstone shareholding in a successful business, whose main asset is well understood by NZOG.
In June 2009 NZOG received a dividend payment of NZ$3.3m from PPP.
