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PanOcean Confirms PanAfrican Share Sale Talks
Pan-Ocean Energy Corp. Limited  7/12/2006
Pan-Ocean Energy Corp. Limited  www.panoceanenergy.com confirmed Wednesday that it has had preliminary discussions with parties in respect to potential transactions that could lead to a sale of its shares in subsidiary PanAfrican Energy Corp. Mauritius, which conducts business in Gabon.

The company said the talks are part of its ongoing commitment to enhance value for all shareholders, and it cautioned that there can be no assurances that any transaction will occur. Pan-Ocean said that it plans to update the market as circumstances warrant.

Pan-Ocean is an international energy company engaged in the exploration, production, and marketing of oil and natural gas. The company’s asset portfolio is focused on conventional light oil production in Gabon, West Africa.