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
OEL Price at posting:
6.7¢ Sentiment: Sell Disclosure: Held
