PANCANADIAN TO SELL BRITISH INTERESTS <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 <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.