read between the lines more activity, page-13

MC - ~100 m
cash ~33 million
production from phillipenes galoc 18.8% indirect interest ~1500 bopd net
Production from turkey ~ 6 mmcf 35% direct interest around 2 mmcf net
- SC 55 Deep water prospect off phillipenes BHP has farm in option has shelled out ~20 m to do detailed 3d siesmic at no cost to otto. Initial siesmic lookign good.
- SC 51 - mixture onshore offshore prospects cheap onshore prospect with low GPOS being drilled early 2011 round feb hopefully farm out news in the next few weeks.
- SC 69 - Looking to be the future beyong SC 55 with many siesable prospects in shallower water.

likely Galoc phase #2 development - likely to double current field prodcuction from current 8k bopd. The cost and timing still to be decided upon should be around ~120 m cost for the JV

The huge driver in the short term is BHP farmin if they do decide to farm in SP should easy go up 50-100% more if other SC get farmed out or drilled sooner rather than later. It looks to be a sleeper but the managaement are getting the hard yards done without much fan fare.