Penn Pacific Corp., a Newport Beach oil...

Penn Pacific Corp., a Newport Beach oil and gas exploration firm, said it agreed to acquire National Southwest Capital Group, a Dallas investment concern. According to the agreement, Penn Pacific will exchange convertible preferred shares for all of National Southwest’s stock. National Southwest, a privately held corporation, has assets of approximately $4 million. Penn Pacific declined to put a value on the acquisition. Officials said they expected to close the deal before Aug. 31.