OEL 15.4% 1.1¢ otto energy limited

Ann: Quarterly Activities & Cashflow Report, page-6

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  1. 9,079 Posts.
    lightbulb Created with Sketch. 556
    From the quarterly

    "Otto will operate the drilling of Hawkeye-1"

    Note the absence of likely, anticipate, expect etc,

    Sounds like the previously interested deepwater operators have walked.
    Anyway, getting one or two more parties to stump up USD7-10m each for ~15% should be doable. They'd only be paying 1:1 or 1.25:1 with free seismic.

    My only concern would be OEL's exposure to cost blowouts and/or accidents not covered by insurance if they do retain 60-70%.

 
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