Otis Energy granted halt pending drilling results from Catahoula...

Otis Energy granted halt pending drilling results from Catahoula Lake Project

Monday, May 14, 2012 by John Phillips Otis Energy (ASX: OTE) has been granted a trading halt by the ASX pending some potentially very interesting news of drilling results from Catahoula Lake Project in Louisiana, with the company's shares placed in pre-open.

Otis has not yet expanded any further on the announcement, but earlier in the month the company updated the market on the second well in the 2012 drilling program, where the company has a 20% working interest.

The drilling program currently allows for up to eight wells before the end of June 2012, with the plan for any successful wells to be completed and tied into the company’s jointly owned production facilities.

The halt will last until the earlier of the results being made available to the market, or the opening of trade on Wednesday 16th May.

1. Proactiveinvestors Australia


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