well done! ceo

After buying into this company many months ago during its lows, I was heartened by the appointment of the new Ceo Paul Moore. During his time as ceo he has:
1/ Solved the engineering problems at Galoc.

2/ Put the Turkey aggreements in place.

3/Put together an aggreement with BHP on SC55

To put the BHP deal back into place,it would seem he did this by providing the 3D seismic on 600 Sq Kilometers in SC55 to BHP. Based on what was revealed by this survey BHP are now interested enough to seismic a further 1400 sq kilometers before committing to drilling. In the intrim they want exclusivity to the seismic, and for that they pay. No further cost to Otto, and if it looks as good or better than the first 600 Sq Kilometer survey then it would seem there will be two wells drilled. If not then there is option to drill one well with reduced share.

It would seem that Paul Moore has done a great deal for Otto and time will tell if there is oil and gas down there.
In the meantime Paul Moore may possibly be putting the next part of this string of success into action. Time will tell.

Below is an extract of his background.

Paul has a Masters of Business Administration from the University of Strathclyde, Scotland. He is a Member of the Society of Petroleum Engineers, Fellow of the AICD and of the Institute of Materials, Minerals and Mining (UK) and is a Chartered Engineer.

Paul commenced his career at Shell where he worked for approximately 9 years on various international petroleum engineering assignments in the North Sea, North Africa, New Zealand and Europe. Since this time Paul has worked in a range of executive management roles with a number of internationally recognised oil and gas companies including:

- Woodside (3 years) - Executive Vice President Northern & Emerging LNG, Executive Vice President Developments and Director Browse Business Unit

- Santos (4 years) - Vice President Technical Services & Development Projects, General Manager Western Australia and Manager South Australia Oil; and

- Fletcher Challenge Energy (10 years) - Pohokura Field Development Manager, Operations & Engineering Manager (Brunei) and Director Maui Development Limited.

Paul brings with him strong executive leadership experience as well as a wealth of international technical and operating skills in both reservoir development and project development.

Well done Paul! Keep up the good work! Onward and upwards!

IMO DYOR