In the meantime OEL's cause wont be done any harm if some of the other activity happening or about to happen in adjacent areas is successful.
From the Qtly....
Nearby Alaska Activity
Adjacent to Otto Energy acreage, exploration success by other North Slope operators continues to be achieved:
Repsol/Armstrong made significant discoveries in the Brookian Nanushuk Formation in 2014-2015. Armstrong are about to spud the Horseshoe-1 well immediately to the west of Otto’s acreage
Caelus Energy discovered 2.4 Bbbl EUR light oil at Smith Bay in 2016.
ConocoPhillips/Anadarko recently announced Nanushuk Formation discovery of greater than 300 MMbbl.
88 Energy to drill the exciting Icewine #2 unconventional HRZ well during H1 2017 to the immediate south of Otto’s acreage.
Positive News, page-11
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