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
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) provides an update on its drilling exploration programs in Turkey and Argentina and production operations at Galoc Oil Field, Philippines.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) advises that Galoc Production Company (GPC) has entered into an agreement to acquire an additional 1.55% working interest in the Galoc Oil Field (Service Contract 14 Block C1). This acquisition increases GPC's working interest in the Galoc Field from 58.29% to 59.84%. As a result Otto's indirect interest in the Galoc Project will increase by 0.49% to 18.77%.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) is pleased to announce that commerciality has been declared at the Galoc Oil Field and that the Company is now debt-free. The Company also provides an update on its exploration and production operations.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) announces the appointment of Mr Paul Moore as the Company's new Chief Executive Officer effective 1 July 2009. Paul Moore (50) has extensive experience in the oil and gas industry with 27 years in operating oil and gas companies, including 17 years in executive management roles. Paul has an international track record in oil/gas field developments and in new business growth.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) provides an update on its exploration drilling programs in Turkey, Italy and Argentina.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) provides an update on its exploration drilling programs in Turkey, Italy and Argentina.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) provides an update on its exploration drilling programs in Turkey, Italy and Argentina.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) provides an update on its exploration drilling programs in Turkey, Italy and Argentina.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) provides an update on its exploration drilling programs in Turkey, Italy and Argentina.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) provides an update on its exploration drilling programs in Turkey, Italy and Argentina.
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