excellent summary, page-10

let me get this right, SC51 they farmed out 40% and 80% for 1.5m?

Whereas ndo reduced to 33% for a 24m drill spend by shell!!

"Otto has executed a farm-out agreement with SWAN Oil and Gas Ltd to participate in the drilling of Duhat-1 and SWAN will contribute US$1.5m to the drilling of this well in return for 40% equity in the Northern Block and 80% equity in the Southern Block.
Otto has elected to not participate in the Southern block of SC 51, which includes the Argao prospect. Otto will retain a 40% working interest in the Northern block"

Way to sell the farm otto !!