Flaring the Galoc 4 well in March 2008
Perth, May 8, 2009 AEST (ABN Newswire) - Further to our ASX announcement made yesterday, 7 May 2009, Otto Energy Limited (ASX:OEL)(PINK:OTTEF) has been advised by the Galoc Field operator, the Galoc Production Company WLL (GPC), that weather at the field was monitored throughout the day and the decision made to disconnect the Rubicon Intrepid FPSO late yesterday afternoon. The disconnection of the Rubicon Intrepid FPSO from the mooring and riser was completed at 19.00 hours yesterday evening, 7 May 2009.
The decision to disconnect was undertaken to reduce the risk of damage to the FPSO's mooring and riser system (M&RS) due to the prevailing adverse weather conditions. The Rubicon Intrepid and its support vessel remains near the field location and will reconnect once local weather conditions are suitable.
The Philippines Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) has downgraded Emong (Chan-Hom) to a tropical storm. Otto will keep the market updated on progress towards reconnecting the Rubicon Intrepid FPSO and resuming production on the Galoc Field.
Contact
Jill Thomas, Investor Relations Mgr
Tel: +61-8-6467-8803
Email: thomas@ottoenergy.com
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