The three risks relating to that are.
1. A Duster.
2. A success but then a long wait for a new development program and a new farmin partner with Otto maybe needing a cap raising for sufficient funds to develop the field at a very high cost. Just look at CVN to see the scenario that could occur an they have some income.
Otto has none.
3. A further delay in the Africa drilling program to a date later in 2016.
I have sold a substantial amount of Otto because of these risk factors.
Mathew I would like to see a comment or a update on ASX of the possible time frame for drilling in Tanzania.????
I will buy back in if Otto go to 5 cents.. Unlikely prior to August drilling.
Also look at PVD with lack of info for there high risk reward drill programe.
All the best to all but I have taken a profit and will wait for the next 2 or 3 weeks to see if I will take a punt on re entering Otto.
The rewards are high if a success and a possible take over but its a gamble in today,s oil prices etc. 247
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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13 | 10510272 | 1.2¢ |
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7 | 4831817 | 0.011 |
7 | 14275452 | 0.010 |
3 | 1375123 | 0.008 |
2 | 166837 | 0.006 |
Price($) | Vol. | No. |
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0.014 | 3072137 | 8 |
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