Otto Energy Limited
ASX:OEL ISIN:AU000000OEL3
As of mid 2008, Otto expects to receive revenue from production at the Galoc Oil Field in the Philippines which will be used to fund further development and exploration across all of the Company’s highly prospective assets. Otto is opportunity rich with an exploration portfolio that includes additional discoveries that are under development, approximately 20 drillable prospects covered by new 3D seismic and well over 60 exploration leads which are being matured as follow-up potential. Consequently, Otto has an active exploration and appraisal drilling program in 2008/2009.
News
ABN Newswire stocks to watch today include: Galaxy Resources Limited (ASX:GXY) (PINK:GALXF), Otto Energy Limited (ASX:OEL), Australian Bauxite Limited (ASX:ABZ), Coalspur Mines Limited (ASX:CPL) (PINK:CSPZF), Havilah Resources NL (ASX:HAV) and Fufeng (HKG:0546) (OTC:FFNGY).
Otto Energy Limited (ASX:OEL) (PINK:OTTEF) advises that it is commencing a new 3D seismic data acquisition program in SC55. Otto plans to acquire approximately 1,800km2 of 3D data in SC55.
ABN Newswire stocks to watch today include: Otto Energy Limited (ASX:OEL) (PINK:OTTEF), Focus Minerals Limited (ASX:FML), Texon Petroleum Limited (ASX:TXN), Dynasty Metals Australia Limited (ASX:DMA) and Mission NewEnergy Limited (ASX:MBT) (PINK:MIBFF).
Otto Energy Limited (ASX:OEL) (PINK:OTTEF) advises that the Kumluk-1 exploration well reached a total depth of 550 metres (m). After logging of this well, net pay of a total of 9m over three intervals was interpreted. These results are in line with pre-drill estimates. This continues the 100% exploration drill success that Otto has experienced in our Edirne licence area.
ABN Newswire stocks to watch today include: AuDAX Resources Limited (ASX:ADX) (PINK:ADXRF), Rex Minerals Limited (ASX:RXM), ASF Group Limited (ASX:AFA) (PINK:ASFTF), Legend Mining Limited (ASX:LEG) (PINK:LGDMF) and Otto Energy Limited (ASX:OEL) (PINK:OTTEF).
The quarter ended 31 December 2009 has seen Otto Energy Limited (ASX:OEL) (PINK:OTTEF) make substantial progress in delivering shareholder value.
ABN Newswire stocks to watch today include: Galaxy Resources Limited (ASX:GXY) (PINK:GALXF), Murchison Metals Limited (ASX:MMX) (PINK:MUMTF), Otto Energy Limited (ASX:OEL) (PINK:OTTEF), Mission NewEnergy Limited (ASX:MBT), and Coalspur Mines Limited (ASX:CPL) (PINK:CSPZF).
Otto Energy Limited (ASX:OEL) (PINK:OTTEF) advises that it has entered into a seismic acquisition and farm in option agreement in respect to its SC55 permit in the Philippines with BHP Billiton (BHPB).
ABN Newswire Stocks to Watch today include: Otto Energy Limited (ASX:OEL)(PINK:OTTEF), Sarissa Resources Inc., (PINK:SRSR), Zhaojin Mining Industry Company Limited (HKG:1818)(PINK:ZHAOF), Galaxy Resources Limited (ASX:GXY)(PINK:GALXF), Automotive Technology Group (ASX:ATJ), Conquest Mining Limited (ASX:CQT) (PINK:CQMLF).
Otto Energy Limited (ASX:OEL) (PINK:OTTEF) is pleased to announce that the Edirne Joint Venture (EJV) has secured a five year Gas Sales Agreement for all gas production from the Edirne Licence.
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