OEL 7.69% 1.2¢ otto energy limited

Ann: Trading Halt , page-15

  1. 559 Posts.
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    26th May 2011.
    Part of the Ann

    Information obtained during drilling from both Duhat-1 and the Duhat-1A sidetrack are very encouraging. In both wells, high general background gas levels have been observed during drilling, consistent with the presence of an oil generative area. These high gas levels, in formations of relatively weak rock strength coupled with unexpected shallow overpressure in the Miocene Tagnocot interval require further study prior to the recommencement of exploration in the block..

    I would like to presume they are being cautious an have already encountered gas readings.
    Last time they got to 321 metres. Plugged back to 200 metres.
    The issue with the pilot hole may be overpressure again though it should perhaps be expected.
    Time will tell . Seems like the gas an oil is there. Just how it can be drilled safely.
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