If my memory serves me correctly tax is has to be paid on your quoted reserves, so in Otto's case they would like to keep the reserves low as they have no debt and money in the bank. Nido situation is very different- perhaps they need a higher share price for borrowings, but at the end of the day as long as the oil keeps flowing and the money keeps rolling in, Otto will have more equity for exploration drilling as quoted in their investment presentation of 08/12/09. If Nido's reserve update comes in around the same time as the quarterly statement for Otto, with more farm out news , drilling programmes for 2010, and 2D for SC69, this could be a very exciting year for Otto. And not to forget further 3D results from Turkey.
IMO DYOR
If my memory serves me correctly tax is has to be paid on your...
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