re: News: Otto Energy December 2013 Quarterly... I wouldn't mind PPP…history of offshore experience…fair bit of cash to spend…
Bit of a stretch here but assuming Otto (largely financed by BHP departure) and PPP drill their first well on Hawkeye….and hit something like 100m of oil….The chances of them obtaining finance to get the field up and running would be? And Otto would still be a 50%+ operator and cash receiver….If they don't succeed - then move on to East Africa and for F-sake…drill Duhat till it works….
Not to mention their other interests in the Philippines….Galoc North….offshore Mindoro..etc….
Personally I'd like to see them drill Duhat asap - more adventurously - heavier gear…and horizontal when they should….Cheap comparatively…great revenue stream…takes the worry out of SC55 being a dud….
News: Otto Energy December 2013 Quarterly Highlig, page-16
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