Otto Energy has done an excellent job in farming into arguably...

Otto Energy has done an excellent job in farming into arguably Europe's most prospective oil and gas area. Otto has attained 50% interest in the Bastiglia-Cento permits.

This provides Otto with an excellent opportunity for rapid growth in the near-term - the permit is to be tested in September 2008.

I draw your attention to recently ASX listed Key Petroleum - who maintain 100% interest in the Borsano permit of the Po Valley. The Borsano permit lies directly between 250 million barrel Villa Fortuna / Trecate oil field and the Brugherio gas field. This is to be drilled mid-2008. Key are currently in the midst of a two-well drilling program offshore Tanzania. The Kiliwani #1 well which spud two weeks is four kilometres away from the 1TCF Songo-Songo gas field.

The management of Key Petroleum are formerly of Hardman Resources - notably Key's non-Executive Chairman of the Board of Directors - Ted Ellyard - who served as Hardman's CEO and oversaw the company's growth of market cap from less than $5 million to more than $1.5 billion in 8 years, as it was taken over by Tullow Oil of the UK. Key Petroleum's Technical Director - Terence Nilson - served as Hardman's chief technical director from 2000 to 2005, the highest technical position at the time. CEO Ken Russel has worked for Hardman, BHP Billton Petroleum and Flopetrol.

Key's market cap is $20 million.