galoc oil field produces one million barrels

Otto's (OEL) announcement this morning, very good news for all.

"Galoc Oil Field Produces One Million Barrels"

ASX ANNOUNCEMENT
9 March 2009
GALOC OIL FIELD PRODUCES ONE MILLION BARRELS
Otto Energy (�gOtto�h) (ASX: OEL) is pleased to announce that the Galoc Field has
produced its first million barrels of oil.
Otto�fs Chief Executive Officer, Mr. Alex Parks said today �gWhilst the first one
million barrels of crude produced from the Galoc Field is a significant milestone to
be recognised, we are still only at the beginning of the field life. The technical data
being gathered during this initial production period is providing insights into the
reservoir that will determine the management and further development of the
field in the future�h. Mr Parks went on to say �gI must thank the Philippines
Department of Energy, the Galoc Production Company, our other Joint Venture
partners and the operator of the leased FPSO, Rubicon Offshore International, for
their co�]operation and contributions in realising this milestone, and look forward
to many more.�h
Otto holds a 31.38% shareholding in Galoc Production Company (GPC) which has a
58.29% working interest in the Galoc licence, and is the field Operator. Galoc is
located in Service Contract (SC) 14C off the west coast of Palawan in the
Philippines.
Yours faithfully,