OEL 0.00% 1.2¢ otto energy limited

below budget and expectations - plug and abandon, page-3

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    From RMP announcement "Based on a potential estimated total well cost of USD$25m, Red Emperor expects to retain ............................................"

    IF this turns out to be correct then OTTO should have made a profit of US $5.75 on the drill.

    i.e US $25million minus US $6.25million payable by farm in partners and minus US $24.5million
    payable by BHPBP leaves a PROFIT of US $5.75 million.

    IF this is correct then it is not a bad result all things considered.

    It will be on to the next FIVE drills with a GREAT starting cash balance.
 
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