MC ~$110 million
cash ~$33 million ( no debt)
EV ~$77 million
EV consisting of Service contracts- SC 14C,50,51,55,69
SC50 (Otto 85%) holds the Calauit and Calauit South Oil Fields which were discovered in 1991/92. The fields lie in shallow water depths that range from 50m to 100m and the area is situated at the northeast end of the prolific oil and gas Palawan Basin.
SC51 (Otto 80%) Onshore Visayan Basin - Otto Energy is to drill the Duhat-1 well in first quarter 2011 testing the Miocene Tagnacot formation with a mid-case success volume of 76 mmbbls (STOIIP)
SC55 (Otto 85%) Offshore Palawan Basin Hawkeye 3D seismic firms the Hawkeye prospect to mean success volumes of 680 mmbbls (STOIIP)
SC69 (Otto 70%) Offshore Visayan Basin 2D seismic confirms the presence of Lampos and Lampos South prospects with combined mean success volumes of 292 mmbbls (STOIIP)
SC14C (18.78% indirect) Offshore northwest Palawan basin, SC14C is in midwater depths and contains the Galoc Oil Field. Galoc field commenced production in October 2008
otto energy overview
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