PANCANADIAN TO SELL BRITISH INTERESTS

  &lt;PanCanadian Petroleum Ltd>
  said it agreed to sell its working interest in its North Sea
  properties and its British unit, Canadian Pacific Oil and Gas
  of Canada Ltd, to Whitehall Petroleum Ltd, a private British
  company.
      PanCanadian, 87 pct-owned by Canadian Pacific Ltd &lt;CP>,
  said it would receive 1.7 mln British pounds cash (3.5 mln
  Canadian dlrs) at closing, expected in two to three months.
      It said the deal is subject to approval by regulators and
  its partners in the properties, which consist of exploration
  wells. It will also retain a royalty interest in the
  properties.
  

