Previous guidance comment on the 13th March was "Otto is on...

Previous guidance comment on the 13th March was "Otto is on track to meet full year FY23 production and cost guidance (which was first released
on 16 November 2022)."

Now they have updated guidance to 0.75 - 0.85 without telling us exactly what they were expecting from GC21 and other programs, no capex update just opex of 5-6m maintained and this comment...

"With this initial production solely from the upper completion, and until further intervention actions open the lower interval, combined with delays in capturing new assets through the Company’s targeted four to six well exploration program, Otto is lowering its FY 23 production and field lifting cost guidance to 0.75 – 0.85 MMBoe and US$5.0 – 6.0 million, respectively."

This is a big revision only 44 days after confirming they were on track to meet guidance. And only 5 months after the initial forecast!

I'm astounded they are alluding to have included in guidance confirmed on March 18th volumes from a 4-6 well targeted exploration program (that I only first see mention of in the strategic update), would this really have expected to come online and brought them anywhere near the kind of volumes in the next 3.5 months from March 18th to June 30th to meet guidance?

The production miss on the lower sands at GC21 could not have been that big. Let's say GC21 forecast production on the lower sands was an optimistic 90 days at 200 BOE WI to Otto, so 18,000 boe, Otto have revised their lower end of production forecast by 125,000 boe and upper by 200,000. Am I missing a zero here or do you think we not being told everything, or did they just stuff up completely when they confirmed guidance March 18th?

They also should be disclosing the updated capex number for the year!

IMO It appears to be either deceitful or incompetent to have varied guidance by this much after confirming it March 18th, (or I have missed something?)