# OEL - Otto Energy



## havingfun (10 August 2006)

Had this one for a while now forgot all about it. Very promising tenements in the Philippines ,in trading halt at present.Have been waiting for an off-shore drill rig for nearly a year[hopefullythat is what this is about] Independent report values  stock at between 35c and $1.17 [based on oil at $45 a barrel US.
If they get their rig it should be a good buy...
Had a chance to take more in fully funded capital raise last month but didnt.
See what happens...so keep a watch on it....especially in the current oil climate
Ive had these over a year so do your own research.....


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## havingfun (14 August 2006)

*Re: OEL - Ottoman Energy*

Rig secured but not till late 2007 .....forget them....for a while anyway


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## havingfun (1 September 2006)

*Re: OEL - Ottoman Energy*

2 completely out of  the blue days,up 25% and 10 times usual vol.
Option went up over 200%??????? Does anyone know anything?


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## jtb (13 March 2007)

*Re: OEL - Ottoman Energy*

Anybody else in OEL ?
Excellent deal with incremental this morning - 15 mil cash now backing 20 odd mill market cap and lots of big stuff coming this year.

One of Stockanalsiss favourites

DYOR


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## TheAbyss (13 March 2007)

*Re: OEL - Ottoman Energy*

Great close. 3 million shares sold today and there are only 380k shares left on the sell side with buyers stacked up waiting for more than a million units.

Anyone have any thoughts on how far this might run on the drilling results today?


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## surfingman (13 March 2007)

*Re: OEL - Ottoman Energy*



			
				TheAbyss said:
			
		

> Great close. 3 million shares sold today and there are only 380k shares left on the sell side with buyers stacked up waiting for more than a million units.
> 
> Anyone have any thoughts on how far this might run on the drilling results today?




Adelphi went just over 1.00 with no drill results, with 2 main prospects being in Texas USA, they had a fairly large amount of funds.... Will be good to see it reach at least .30 without too many sales


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## jtb (13 March 2007)

*Re: OEL - Ottoman Energy*



			
				TheAbyss said:
			
		

> Great close. 3 million shares sold today and there are only 380k shares left on the sell side with buyers stacked up waiting for more than a million units.
> 
> Anyone have any thoughts on how far this might run on the drilling results today?




Abyss,

Drilling results and flow tests for Turkey are already complete hence Incrementals cash injection this morning.The company expect to initially prove up somwhere around 20BcF from memory and flowrates have already come in @ 3 or 4 mmcfpd (can't remember if that was the first or both wells) .A gas company has already approached them Re: purchase and gas is worth around $8.50 USD per mcf in the region.

So even @ 3 mmcf thats around 10 million USD a year gross (OEL 35%)

This cash is to be put toward the main attraction which is their oil assets in the Phillipines (excellant tax regime unlike Indonesia) and Argentina. They already have proven recoverable reserves of around 6 million barrels (good oil too) with the recovery/drilling vessel being constructed as we speak. 
Note: The company building this vessel also recently took an on-market strategic stake in Otto.
The income from this oil field will then be applied to their monster targets which are being mapped seismically at present. 

They also have a 35% stake in a >100 million barrel target in Argentina (option to increase to 40 something %) that will be drilled within 6 months of approval being given (which is being assesed also at present).

Check out their website this all off the top of my head (and I'm on nightshift)

Rick Crabb is chairman (PDN etc)
Institutional support coming in now.
150mil shares

This stock gives me a horn


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## jtb (14 March 2007)

*Re: OEL - Ottoman Energy*

Forgot to mention that Rick excercised $300,000 worth of 20c options (that were out of the money) late last year instead of letting them expire. 
I thought this was a big positive and have been accumulating every since.

Article re: the Turkey project today 

http://www.minebox.com/story.asp?articleId=9133


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## TheAbyss (14 March 2007)

*Re: OEL - Ottoman Energy*

JTB - Thanks for the summary. Sounds great and whilst i dont have any tumesence i am feeling warm and fuzzy.


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## jtb (14 March 2007)

*Re: OEL - Ottoman Energy*



			
				TheAbyss said:
			
		

> JTB - Thanks for the summary. Sounds great and whilst i dont have any tumesence i am feeling warm and fuzzy.




Give it time mate.

With all the T/O dribble that goes around on rubbish companies, this is the only thing I'm concerned about with OEL.
If I was someone like TAP for example I'd be having a serious think about it.

Anyway one more beer (maybe two) and I'm off to bed.


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## jtb (16 March 2007)

*Re: OEL - Ottoman Energy*

Becoming a substantial holder ann out this morning.
London based mob topping up last month with 600K @ 18.7c.
Now holding 8,500,000 shares.

Nice


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## jtb (19 March 2007)

*Re: OEL - Ottoman Energy*

Hello out there.........................

50% in two weeks and no chatter?
OELs share of Caluit production commencing 9 months worth $120 mil @ $30 a bbl!


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## TheAbyss (19 March 2007)

*Re: OEL - Ottoman Energy*

I am watching and quietly happy to have got in last week.


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## surfingman (22 March 2007)

*Re: OEL - Ottoman Energy*

6.5% today, but low volumes still very happy with the progress in SP


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## surfingman (13 April 2007)

*Re: OEL - Ottoman Energy*

finally some upside on the SP, 230 000 shares on sell and volume of 330 000 already today, up 9.8% today.


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## jtb (13 April 2007)

*Re: OEL - Ottoman Energy*



surfingman said:


> finally some upside on the SP, 230 000 shares on sell and volume of 330 000 already today, up 9.8% today.




She's not a uranium stock mate, can't expect 10% a day ad infinitum.

Its been interesting the last few days (it is up 30% since last week) as soon as a reasonable parcel was appearing (>100k shares) they have been snapped up by off screen buys- happened again already this morning (up to to 28c).

I gave up on waiting yesterday and grabbed another 60K @ 24.5 because the sell side is very very lean.

I wonder whats prompting the interest all of a sudden


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## surfingman (13 April 2007)

*Re: OEL - Ottoman Energy*



jtb said:


> She's not a uranium stock mate, can't expect 10% a day ad infinitum.




I don't expect it 10% a day, but when it hits 9.8% this early in the day and sell is very limited i get a little excited.


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## doctorj (13 April 2007)

*Re: OEL - Ottoman Energy*



jtb said:


> I wonder whats prompting the interest all of a sudden




This month's issue of Resource Stocks Magazine did a feature on a number of oil/gas juniors they believe have great prospects.  Ottoman was one featured.

I'm surprised OEL holders were not sent a copy - I received a few copies from other companies featured this month.


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## jtb (13 April 2007)

*Re: OEL - Ottoman Energy*



doctorj said:


> This month's issue of Resource Stocks Magazine did a feature on a number of oil/gas juniors they believe have great prospects.  Ottoman was one featured.
> 
> I'm surprised OEL holders were not sent a copy - I received a few copies from other companies featured this month.




Ahah.

My local only gets two copies and I was too slow this month.

Cheers for the reply


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## cujo (16 April 2007)

*Re: OEL - Ottoman Energy*

We were sent a copy doc.....2 mags actually.
Where they get the money...
Maybe just to the bigger shareholders...:


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## jtb (14 May 2007)

*Re: OEL - Ottoman Energy*

Seems to be some interest here today up nearly 10% atm.
Looks a sweet chart.

Just home from work, any goss' out there or are we expecting Argentina news?


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## Junior (19 July 2007)

*Re: OEL - Ottoman Energy*

Did anyone read the research report recently released on their website?  Massive target price.

Does anyone know why it's under a trading halt today?


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## jtb (19 July 2007)

*Re: OEL - Ottoman Energy*

Yes I like the "presently trading 80% below our base valuation" bit

I'm assuming the TH is related to a farmin somewhere ?
Should be a beauty for the big oil targets.

If its a takeover ......................... this computer will be going through the window this time monday morning.

http://www.ottoenergy.com/investorCentre/reports.php.


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## Junior (23 July 2007)

*Re: OEL - Ottoman Energy*

Suspended from trading at the request of the company....

Merger?  Takeover?  Big discovery?

I'm being optimistic.


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## jtb (23 July 2007)

*Re: OEL - Ottoman Energy*



BillNorman said:


> Suspended from trading at the request of the company....
> 
> Merger?  Takeover?  Big discovery?
> 
> I'm being optimistic.




Yes surely something other than a fund raising

I hope they hurry up coz I've just got home from work and need to go to bed


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## jtb (22 August 2007)

*Re: OEL - Ottoman Energy*

Morning fellow Ottomen,

Turkey progressing well

Check out the thumper trucks in the sunflower fields.

Cool.

http://aspect.comsec.com.au/asxdata/20070822/pdf/00750897.pdf


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## jtb (6 September 2007)

*Re: OEL - Ottoman Energy*

Evening all, thought I better wave the flag just so I don't think I'm the only one on here

Good read, still accumulating - Argentina news soon 

http://www.ottoenergy.com/investorCentre/displayArticle.php?articleID=368


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## Hawkeye (7 September 2007)

*Re: OEL - Ottoman Energy*

You've got company now JTB - after plenty of Research, I'm in on this one as well...I like the look of the management, the future strategy of Otto and at present think it's undervalued if - as I think will be the case - Argentina comes to fruition.


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## jtb (21 September 2007)

*Re: OEL - Ottoman Energy*

Boy o boy, doesn't this recent interest in Nido highlight the value inherent in OEL's Phillipines permit

NDO
*910,000,000 shares* with current fund raising to raise $11million dollars
Seismic to be completed

50% SC 58
60% SC 54
50% SC 63

22% of 2P reserves 23.5 mmstb (*5.17 mmbbls*)

Commence production next year

Same fairway as OEL and chasing analogues of the giant Malampaya field (Shell).

*OEL*

210 million shares

12m cash and seismic already completed

99% SC 50
80% SC 51
85% SC55

99% 2P reserves of 5.9 mmbbls

Producing next year (not counting gas in Turkey)

This from todays ann' (from recent seismic program and analogous to Malampaya) 

Table 1 - Prospective Resource Estimates of
Marantao Prospect made by Otto Energy
Low Case Base Case High Case Mean Case
Case 1
Assuming only Oil 320 MMbbls 1,058 MMbbls 2,682 MMbbls 1,323 MMbbls
Case 2
Assuming only Gas 721 bcf 2,339 bcf 5,605 bcf 2,828bcf
Case 3
Assuming large gas cap
over a 50m oil column
as in Malampaya.
468 bcf +
144MMbbls
1,508 bcf +
469 MMbbls
3,602 bcf +
1,118 MMbbls
1,812 bcf
+567 MMbbls
This form of volumetric assessment is classified as “Prospective Resources” by the Society of
Petroleum Engineers and World Petroleum Congress reserve definitions. Volumetric
estimates of Prospective resources or “potentially recoverable hydrocarbons” were calculated
for three case scenarios; oil only, gas only and a combination of oil and gas fill.

NDO market cap @ 28c - $ 255 million
*
OEL market cap @ 28c - $  58 million
* 

http://aspect.comsec.com.au/asxdata/20070921/pdf/00761393.pdf


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## jtb (21 September 2007)

*Re: OEL - Ottoman Energy*

With some luck we may be marching back to old highs

Some good solid buying going through today- I was a bit wary about the single 600k @ 31c seller's motives but he appears to have bolted or got steamrolled.


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## moneymajix (21 September 2007)

*Re: OEL - Ottoman Energy*

Thanks JTB

Have you ever looked at KIK?

It is a partner with NDO in the Phillipines and currently 21.5c.
I think its all time high is 28.5c.


cheers


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## jtb (21 September 2007)

*Re: OEL - Ottoman Energy*



moneymajix said:


> Thanks JTB
> 
> Have you ever looked at KIK?
> 
> ...




Hey Bud,

They were YGL weren't they?

Glanced at them some time ago but decided on OEL due to the high % of ownership. (YGL's MC was/is also)

Plus I like the near term prospect in Argentina on a risk/cost/reward basis,
and the near term cash flow from Turkey @ >$7 mcf US.

I also like the fact that OEL have already raised cash and done their seismic (and there share structure is still nice and tight <210 million) plus the fact that the Top 20 hold over 50%.

Have been buying OEL steadily for nearly 12 months now and fully expect them to be trading around the dollar region before next xmas.

To put that into context that will equate with CVN's MC at present. 

Cheers


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## jtb (3 October 2007)

*Re: OEL - Ottoman Energy*

Good to see interest continuing to build fellow Ottomen

Argentina permits must be due soon.........................surely 

Give those INP'ers something to really think about.

Night all


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## gordoncarr (24 October 2007)

*Re: OEL - Ottoman Energy*

It has gone into trading halt today.  Any ideas what the news might be?  Maybe related to Argentina.


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## jtb (24 October 2007)

*Re: OEL - Ottoman Energy*



gordoncarr said:


> It has gone into trading halt today.  Any ideas what the news might be?  Maybe related to Argentina.




G'day Gordon,

Should be Argentina related but could be anything?

Still got >5 mil in the bank.

If not santa rosa related I'm betting JV

http://aspect.comsec.com.au/asxdata/20071023/pdf/00772938.pdf


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## benwex (29 October 2007)

*Re: OEL - Ottoman Energy*

Otto acquires an 18.28% interest in the Galoc Oil Field,
offshore Philippines
Highlights:
• Otto Energy has entered into agreements to acquire an 18.28% interest in
the Galoc Field offshore Philippines, via acquisition of a 31.38%
shareholding in Galoc Production Company WLL (GPC)
• GPC is operator and holds 58.29% equity in the Galoc Field
• Gaffney Cline, an independent reserves assessor, has certified gross 2P
reserves of 23.4 MMbbls for the Galoc Field
• The Galoc Field is currently under development with “first oil” anticipated
in April 20

I hold both OEL andf NDO, did not that see that coming....

good news for both

consolidation of Philippines explores.


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## jtb (29 October 2007)

*Re: OEL - Ottoman Energy*

Morning gents,

Astounding announcement this morning,

NDO is capitalised at *6 times* Otto's value and they've (OEL) just bought the same % share in the GALOC field

Finally we'll see some catch up in cap' me thinks

*Post* issue OEL will be looking at $1.00 SP for a comparable cap' purely on the GALOC stake.

See previous post regarding valuations prior to this ann'.

Giddyup


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## phcuk (29 October 2007)

*Re: OEL - Ottoman Energy*

Hi all,

Just new to the market, had a read about the company and their reports. Seem's like there are some potentials in this company to grow and boost their sp up. You pros have any recommendations?


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## Wysiwyg (29 October 2007)

*Re: OEL - Ottoman Energy*



jtb said:


> Morning gents,
> 
> Astounding announcement this morning,
> 
> ...




Hi jtb, the capital raising at 30 c will be available to the public do you think?You are right in comparison to NDO.OEL much more upside as the situation presently stands.


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## jtb (29 October 2007)

*Re: OEL - Ottoman Energy*



Wysiwyg said:


> Hi jtb, the capital raising at 30 c will be available to the public do you think?You are right in comparison to NDO.OEL much more upside as the situation presently stands.




Hey whatyousee,

The last time we got to participate in a SPP was early last year (pre- AP taking the chair at OEL).
I think from the way that international investors have come on board since, I would imagine they may just place the lot?
The chinese mob that are building the production boat (for Caluit) had to buy their substantial stake on market and I think that many other institutions will see the enormous potential the SP offers at these levels.
I bought more today just in case and have averaged my buy price up to just over 30c.

If you look back in the thread you’ll see my comparison of OEL to NDO purely on Phillipines assets and after todays announcement the inherent value has swing even further to Otto imo.

If the market values NDO @ nearly $400 million on its Galoc stake and (Malampaya type) exploration potential then apples for apples that values OEL @ $1.00 per share after Otto issue another 200 million shares.
As OEL also has Caluit (which contains 2P reserves of the same magnitude again- and likely to double) due to come into production Q3 then we can probably stick another conservative 50c per share on there.

The gas resource/production from Turkey that was to fund their Argentine/Phillipines exploration will likely be sold off to Incremental now (imo) due to the income from Galoc?  Off the top of my head this will probably bring in $10-20 mil.
This would then fund the entire program (>10 holes) on the monster Santa Rosa target (also see above).
Success here and we’re talking mega $  

RM research’s valuation on OEL was $1.80 per share prior to todays ann,’ so my figures above are probably pretty conservative.

If we look at CVN back when they had <500 million shares and I thought they were good value from 8c - 20c on 4 million bbl 2P and upside. 
They were valued then at more than OEL are now.

Today CVN have nearly 700million shares and Ted’s resource/exploration upside (underpinning valuations of 70c per share) was somewhere around 25mmbbls 2P (CVN share).
*At 50c CVN have a market cap of $350 million. *This has been driven from a couple of thousand barrels (nett) per day and exploration potential.

OEL will be receiving *3,000 bbl/per day* nett from Galoc and Caluit is expected to come on @ *15,000 bbl/per day* perhaps as soon as 3 months later.
OEL’s exploration upside is in the *100’s of million bbls* in not only the Phillipines but again in Argentina.
At 40c OEL’s market cap is $80 million., post issue it will be 160 million.
*When compared to CVN, we should be > 80c per share just on Galoc.*

Is I said, bought more today just in case, but will participate in the SPP if it makes it down to us.


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## jtb (29 October 2007)

*Re: OEL - Ottoman Energy*



jtb said:


> Is I said, bought more today just in case




No I'm not a kiwi that was a blue

Been drawing this chart over and over for about 6 weeks now and was quietly confident that Turkey or Argentina news would prompt the breakout, but todays news came right out of blue imo.

With luck 39c is about to become support


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## Wysiwyg (29 October 2007)

*Re: OEL - Ottoman Energy*



jtb said:


> No I'm not a kiwi that was a blue
> 
> Been drawing this chart over and over for about 6 weeks now and was quietly confident that Turkey or Argentina news would prompt the breakout, but todays news came right out of blue imo.
> 
> With luck 39c is about to become support




Well i`m wondering if the cap. raising will be for present share holders or not.I mean 30c is a bargain if one can get them at this price. If not then no hurry in my view as the market indices are toppish again.My strategy was to buy 2000 shares (bare minimum) to see if  a  s.p.p. is applicable to share holders on a near date.Prolly institutions and sophisticates though.Happy to bide time.

p.s. am i imagining more lucrative stock opportunities lately!


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## jtb (30 October 2007)

*Re: OEL - Ottoman Energy*



Wysiwyg said:


> Well i`m wondering if the cap. raising will be for present share holders or not.I mean 30c is a bargain if one can get them at this price. If not then no hurry in my view as the market indices are toppish again.My strategy was to buy 2000 shares (bare minimum) to see if  a  s.p.p. is applicable to share holders on a near date.Prolly institutions and sophisticates though.Happy to bide time.
> 
> p.s. am i imagining more lucrative stock opportunities lately!




Pls PM me on those other stocks wysi, I've been a mega oil bull for about 5 years now and firmly believe we are only seeing the beginning.
OEL is outstanding value no matter how you look at it and oil is oil.
If oil dropped to $50 tomorrow, their still massively undervalued


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## Caliente (30 October 2007)

*Re: OEL - Ottoman Energy*

The X factor for Otto and the reason why i invested in it a long time ago is Alex Parks. 

He's a visionary and has assembled a stable of short/medium/long term projects at Otto.

I'm p*ssed that this "placement" is being done at 30 cents to "sophisticated" investors and short term it will be a drag factor but the company has a forward revenue stream idea now which will help Parks advance the other projects. I am hoping that the 67million dollars + Galoc oil will enable us to do this without additional placements.

On a positive note some of these Otto projects are absolute elephants - we're talking billion barrel stuff here.


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## benwex (30 October 2007)

*Re: OEL - Ottoman Energy*

I spoke with OEL yesterday and the capital raising is not avaliable to current shareholders....

AP mentioned they may have a placement later on as a sweetner to shareholders to offset this dilition which had to be fully underwritten and they needed to secure the total amount...

Shareholders are always getting strewed!


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## jtb (30 October 2007)

*Re: OEL - Ottoman Energy*

Have to agree Caliente, he's already walking the walk and the company is acting as if its already a major player.
I'm thinking Alex is leaning towards retaining a large interest in the phillipines blocks as opposed to farming out.

Bold, ballsy move either way and I like it.

Ben,

I'd imagine the 30c figure is low enough to whet the appetites of big players yet not cane us. Remember the SP had been suppressed at low 30's prior to the TH so 30c is good going imo.
Also Alex wouldn't want to frig around waiting for retail traders/mums and dads to gather their coins and apply for 200 shares.
*Post issue, over 75% of the company will be held by major shareholders*.

I don't get the impression Alex will be satisfied until we're a billion dollar company and I'm on for the ride


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## Wysiwyg (30 October 2007)

*Re: OEL - Ottoman Energy*



benwex said:


> I spoke with OEL yesterday and* the capital raising is not avaliable to current shareholders....*
> AP mentioned they may have a placement later on as a sweetner to shareholders to offset this dilition which had to be fully underwritten and they needed to secure the total amount...
> 
> Shareholders are always getting strewed!




Thanks for the facts there Benwex.Looks promising nevertheless.Might try and haggle a good price now.


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## jtb (30 October 2007)

*Re: OEL - Ottoman Energy*

Recommendation in todays 'West Australian" too.

Euroz securities stated Galoc purchase as a 'company changing event' and have them as buy @ 40c with upside of 90c. 

No value for exploration potential


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## jtb (31 October 2007)

*Re: OEL - Ottoman Energy*

I'm still calling a move to 40c resistance looking at this?
Lot of effort going into keeping the price here still I reckon

Has anyone else seen Peter Strachn's value comparisons today????????? interesting in regard to comparisons with NDO and CVN?

He must read ASF


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## sandybeachs (3 November 2007)

*Otto will be joint operator of Galoc oilfield*

""Otto will be joint operator of Galoc oilfield""

into the spotlight overnight..

"Street Talk"

strong possibilty Otto will have a greater interest in SC50 than previously thought.

yep the cashflow from Galoc Oilfield will put them in a good position, so they can retain a greater percentage of SC50. currently approx 6.6mmbls


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## Wysiwyg (3 November 2007)

*Re: Otto will be joint operator of Galoc oilfield*



sandybeachs said:


> ""Otto will be joint operator of Galoc oilfield""
> 
> into the spotlight overnight..
> 
> ...




Hi sandy beaches.........You would have to be one of the earliest joiners onto ASF.Since the site administrator Joe Blow joined on the 28 May 2004 and you shortly after.With only 37 posts too.
Just an observation.


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## sandybeachs (5 November 2007)

*Galoc Drilling Confirms Oil Column*

update this morning. things going along extremely well..

seems as though the move by Otto taking an interest in Galoc Oilfield might beone of the best decisions made since listing.


Galoc Drilling Confirms Oil Column
Nido Petroleum Ltd (Nido) is pleased to announce the initial interpretation of the
Galoc pilot hole results.
The pilot hole programme was completed late on Saturday 3 November and
indicates an oil column at the pilot hole location. The reservoir top, the oil-water
contact and the indicated reservoir quality appear consistent with the
predevelopment studies and will be validated by further petrophysical work in the
coming days. Once this initial interpretation has been verified, the details will be the
subject of a separate announcement.
The pilot hole was designed to confirm potential reserves in the southern sector of
the field by evaluating the reservoir structure and quality in that area and to optimise
the location of the Galoc 3 production well. The pilot hole programme included
cutting core, logging, pressure measurements and sampling of reservoir fluids.
Deputy Managing Director, Joanne Williams, said “These early results are very
encouraging for the Joint Venture. The pilot hole results correspond well with the
pre-development subsurface modelling which reduces reservoir risk and increases
our level of confidence in the subsurface predictions.”
In accordance with the drilling programme, the pilot hole will be plugged back to the
13-3/8 inch casing shoe and sidetracked to drill the Galoc 4 horizontal production
well. While Galoc 4 is being drilled, full petrophysical analysis combining the log data
with the recovered core from the pilot hole will be used to fine-tune the placement of
the Galoc 3 production well.


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## jtb (7 November 2007)

*Re: OEL - Ottoman Energy*

Evening all,

Gee todays ann' was beauty imo, the projected income from the 'Galoc'  field alone gives me shivers

Post cap raising MC still *less than half* of NDO / CVN

Well worth a read any prospective oil fans.

"At this point, the development timetable is on schedule. Drilling is underway and we are aiming to complete the testing and completion of the two development wells in *late December 2007*, in time for the Rubicon-Intrepid FPSO arriving in February with commissioning in March and being on full production in April 2008."

"Otto has conservatively estimated the expected proceeds to be around US$30 million during 2008. This is in line with Euroz’s research assumptions, and is based on an average oil price of only around US$60 per barrel. On current oil prices, *Otto’s net revenue in 2008 could be as much as US$45 million from the Galoc proceeds alone.*
In addition, the funds from the cash bonds will also be released during this period, giving us up to US$60 million in working capital.
We expect similar revenue in 2009 as production will be over four quarters instead of the three in 2008."


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## habs (8 November 2007)

*Re: OEL - Ottoman Energy*

that is a really interesting report, not without a few risks, but the upside is very tasty next year for this mob, especially around april. Thecash flow will give the company a massive boost towards further exploration!


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## jtb (9 November 2007)

*Re: OEL - Ottoman Energy*



habs said:


> that is a really interesting report, not without a few risks, but the upside is very tasty next year for this mob, especially around april. Thecash flow will give the company a massive boost towards further exploration!




I agree habs, I think we'll see some value come in the minute the purchase is formalised though (next month).

Check out the run up's of CVN and NDO for an idea.

I would say that once the layers of single 100K sells are cleared we'll see at least parity on Galoc assets pretty quickly (60+ cents). 

Cheers


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## jtb (14 November 2007)

Come to papa baby

Galoc 3 and 4 proceeding to plan.

http://aspect.comsec.com.au/asxdata/20071114/pdf/00782723.pdf


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## gilbertw (28 November 2007)

Well I've just bought in at 31 cents.... I smell money in the making with this share - good long term hold. I would expect alot of resistance to prevent this downward sp falling below 30cents... see how it goes!


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## jtb (10 December 2007)

gilbertw said:


> Well I've just bought in at 31 cents.... I smell money in the making with this share - good long term hold. I would expect alot of resistance to prevent this downward sp falling below 30cents... see how it goes!




Welcome to the fold gilbert.

Bit disappointed in Caluit being put back again

Anyway, must be nice to have a lazy $24 million laying around

http://aspect.comsec.com.au/asxdata/20071210/pdf/00793558.pdf


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## sandybeachs (15 December 2007)

*from Otto's website*

from Otto's website

http://www.ottomanenergy.com/media/Euroz Securities - Weekly Informer.pdf

whilst you're at it, have a look at other reports under "Industry Reports" section

http://www.ottomanenergy.com/investorCentre/reports.php

as well as "Media Releases (2007)"

http://www.ottomanenergy.com/investorCentre/mediaReleases.php


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## sandybeachs (2 March 2008)

*approx 90,000barrels of oil per month*

seems like it's been flying under the radar here.

plenty of things have happened since last post like Galoc#3 &#4 being successful.

Otto's interest should be around 3,000bopd once extended production has been completed.

that would give them approx 90,000barrels of oil per month. (give or take a barrel)

current oil price over US$100bbl.

i'm sure you can do the sums )

compare market caps with Nido (NDO) $302mm & Carnarvon (CVN) $311mm

Otto's market cap approx $142mm

pretty simple )


----------



## jtb (7 April 2008)

Still here fellow Ottomen,

Another nice write up in 'Resource Stocks' this month.
I suspect we've come under some Opes Prime selling pressure recently, fingers crossed for re-rating off Galoc flows this month
Italy looking interesting.
Argentina news imminent................... apparently.


----------



## Wysiwyg (7 April 2008)

jtb said:


> Still here fellow Ottomen,
> 
> Another nice write up in 'Resource Stocks' this month.
> I suspect we've come under some Opes Prime selling pressure recently, fingers crossed for re-rating off Galoc flows this month
> ...




Yeah great outlook and my favourite but do you know why that it is consistently sold down/blocked whenever it tries to move.Some really, what i call dumb sells in this stock and not opes related.


----------



## jtb (7 April 2008)

Wysiwyg said:


> Yeah great outlook and my favourite but do you know why that it is consistently sold down/blocked whenever it tries to move.Some really, what i call dumb sells in this stock and not opes related.




Its got me F&cked too whatyousee, its almost as though we have some OEL dedicated, masochistic daytraders that buy one day and sell at a loss the next

I'm hoping they go broke shortly.

I haven't had anytime for research for the last few months but in the past it has appeared to me that its usually stock coming out of escrow etc?
ANZ nominees had a few too unfortunately.

Can't go on much longer surely


----------



## Tradert (11 April 2008)

*OEL - Otto Energy Limited*

Hope she can break and hold above 0.34, there is a mini break at the moment with increasing volume. All good signs.

Tight stops below the 200dma.


----------



## jtb (18 April 2008)

*Re: OEL - Otto Energy Limited*



Tradert said:


> Hope she can break and hold above 0.34, there is a mini break at the moment with increasing volume. All good signs




Morning fellow Ottomen,

Woo hoo, got a day off and can watch the markets

Gee we're certainly having some success on the gas front recently hey?

Another 40M of pay:

http://aspect.comsec.com.au/asxdata/20080418/pdf/00833594.pdf

Looking at the value being attributed to CVN's 2P oil reserves I wonder when we're going to start seeing some comparable reflection on ours

Hopefully we'll finally blast through 40c soonish..............


----------



## nick2fish (19 April 2008)

Thanks guys ... lucked onto this thread did the research and got in at 0.30. The thing I like the most about OEL is that there should be a steady flow of positive company announcements arriving over the next 12 months. For small caps silence is deadly. Cheers


----------



## jtb (3 May 2008)

*Re: OEL - Ottoman Energy*



jtb said:


> Good to see interest continuing to build fellow Ottomen
> 
> Argentina permits must be due soon.........................surely
> 
> ...




Evening fellow Ottomen,

Long awaited grant for Santa Rosa is finally formalised -better late than never

Awesome news imo we'll see if theres some love returning this week hey

http://www.oromin.com/download/May_2_2008.pdf


----------



## habs (4 May 2008)

Ahh this is fantastic news, cant wait for a bit of drilling to commence, we've been waiting for this for ages now, hope it yeilds some results!


----------



## jtb (7 May 2008)

Evening gents,

I make todays close an all time high

Nice.

The reaction to NDO's ann' today certainly confirms my belief in the value of the  Phillipines permits (twice our present market cap')

Wys, did you notice the big cross trader seems to have disappeared

Santa Rosa before Xmas will make my year.

Go Otto


----------



## jtb (8 May 2008)

Afternoon fellow Ottomen,

Well she's certainly at her all time high now, stoked

More Phillipines acreage granted today also- just gets better and better.

Just waiting for the NDO fan club to stumble across Marantao now

http://aspect.comsec.com.au/asxdata/20080508/pdf/00840478.pdf


----------



## habs (8 May 2008)

Great news!!! awsome to see otto hopefully firmly established in the 40's now... a bit under rated this stock, same with ndo... not that much attention in the media...(until ndos crazy announcment!)

wild speculation here... imagine a merger of the 2, the tenements join together and both on a somewhat similar path, and both will be cashed up a big from galoc.


----------



## benwex (14 May 2008)

OK people OEL is in a trading halt till friday...

Does anyone know of any news coming out around this time??

Has anyone spoken with the management recently??

benwex


----------



## habs (14 May 2008)

heya benwex

if you read the notice it says it has something to do with capital raising...now, given galoc is all but 2 weeks away from first oil and the recent gas discoverys providing revenue later this year in turkey, then the only thing i can think of is possibly something to do with the new argentina santa rosa basin, or the philipines tenements.


----------



## benwex (14 May 2008)

habs said:


> heya benwex
> 
> if you read the notice it says it has something to do with capital raising...now, given galoc is all but 2 weeks away from first oil and the recent gas discoverys profiding revenue later this year in turkey, then the only thing i can think of is possibly something to do with the new argentina santa rosa basin, or the philipines tenements.




sorry i just looked at the announcement again!!

Capital raising, I tell you Mr Parks is so bloody predictable. Any good news and share price rally and they hit the market up for more money....

Lets hope they are not going to be looking for a large sum.

benwex


----------



## dogwithflees1983 (14 May 2008)

well the market seems to be reacting postively to the news...currently bid in at 50c, and others at 47.5c

Mr Parks is a gun !


----------



## benwex (14 May 2008)

Spoke with Alex Parks, the money raised is to cover site survey in Argentina and working capital to buffer any delays as Galoc comes online....

39 cent placement to sophisticated investors and current large institutional shareholders..$15m in total for working capital....

benwex


----------



## dogwithflees1983 (8 July 2008)

Otto seems to have taken a hit in line with the rest of the mkt over the past few weeks. Could be a great time to top sub 40c's.

Euroz Investor Presentation In March 08, makes for some very interesting reading. 

http://www.ottoenergy.com/investorCentre/displayArticle.php?articleID=464


----------



## Junior (10 July 2008)

Can anyone shed some light on the recent drop in SP?  It seems to me that there's a constant flow of positive announcements, not to mention impending first oil from Galoc and a booming oil price.  Maybe recent capital raisings have put a lid on the SP?  Any other thoughts?


----------



## jtb (10 July 2008)

Junior said:


> Can anyone shed some light on the recent drop in SP?  It seems to me that there's a constant flow of positive announcements, not to mention impending first oil from Galoc and a booming oil price.  Maybe recent capital raisings have put a lid on the SP?  Any other thoughts?




Morning Ottomen,

Junior, I imagine you've hit the nail on the head re: the cap' raising at 39c.
Not often that a stock doesn't drift down to match the value of a raising- particularly in grim markets like these.  
As you say- positive news in all directions and six months to Santa Rosa

http://aspect.comsec.com.au/asxdata/20080710/pdf/00859019.pdf


----------



## Captain Haddock (3 September 2008)

Galoc oil in a few weeks...  

Hope the reaction is favourable.  It seems they want to use Galoc as a cash cow to fund the other promising opportunities in Argentina, Turkey and Italy.  

It's all coming together nicely, just topped up some more today.  Fingers crossed!


----------



## Wysiwyg (3 September 2008)

I noticed they are still hoping to reach 15000-20000 bbls/d flow rate!That is something I won`t believe until I read it.Also the possibility of great things for OEL have been circulating for a while now.Yet to prove anything and still a risk though they do seem reasonably grounded in their approach.


----------



## Captain Haddock (23 September 2008)

Some more news today for OEL, seems pretty positive IMHO.  Any production experts care to comment? 



> *Otto Energy Limited (ASX:OEL) Resource Estimate - Edirne Gas Fields Western Turkey*
> 
> Perth, Sept 23, 2008 (ABN Newswire) - Otto Energy Limited (ASX:OEL)(PINK:OTTEF) is pleased to advise that the Company has estimated the contingent resources at 8.5bcf (mid case), in the Edirne Licence, located in the Thrace Basin of Western Turkey.
> 
> ...


----------



## sinner (11 November 2008)

OEL has been awesome the last week, consistently ignoring the market and performing in the green regardless of bad international news or fluctuating resource prices, etc.

Once again, looking at my oil watchlist all stocks are red except OEL.

Any comments?


----------



## oldblue (11 November 2008)

sinner said:


> OEL has been awesome the last week, consistently ignoring the market and performing in the green regardless of bad international news or fluctuating resource prices, etc.
> 
> Once again, looking at my oil watchlist all stocks are red except OEL.
> 
> Any comments?




Well, all mine are red except BRU and CUE but then the oilers don't have it on their own, it's very hard to find much else that's green today in either my portfolio or watchlist!


----------



## Junior (11 November 2008)

sinner said:


> OEL has been awesome the last week, consistently ignoring the market and performing in the green regardless of bad international news or fluctuating resource prices, etc.
> 
> Once again, looking at my oil watchlist all stocks are red except OEL.
> 
> Any comments?




Well...good that it's in the green, but it's still down 50% from it's high 6 months ago.  So it's nothing to be particularly stoked about.


----------



## sinner (11 November 2008)

My condolences oldblue, despite some intra-day reds (mostly due to profit-taking selloffs imo), my portfolio is consistently finishing in the green for the last 2 weeks!

I will happily disclose holdings in IGR, OEL and ORG. Although I will probably drop out of ORG shortly due to stochastic readings.

EDIT: Double condolences Junior, but some of us have been waiting on the sidelines a lot longer than 6 months for these lows to buy in!


----------



## arguls (17 December 2008)

Whats up? Tanking. Heavy sellof. Its really hard time for OEL. And that will be year 2009 because of dropping oilprices to 30 USD.


----------



## Wysiwyg (17 December 2008)

arguls said:


> Whats up? Tanking. Heavy sellof. Its really hard time for OEL. And that will be year 2009 because of dropping oilprices to 30 USD.




Notice Galoc production has ceased mometarily due to inclement weather.Some debt still to pay off and low low bbl prices.They have a pipeline of projects with the Turkey gas a goer so they should survive.


----------



## Wysiwyg (22 December 2008)

A feather in the cap for OEL after striking up a farm-in deal with BHP ...



> Highlights:
> 
> •* BHP Billiton will earn a 60% interest in SC55 *by carrying Otto through a 3D seismic programme and two deep water exploration wells
> • *Otto will retain a carried working interest of 25% in SC55 *and will transfer
> operatorship to BHP Billiton




But, alas poor yorick, tis not till 2010 ...



> We anticipate that the 3D seismic survey will be carried out and interpreted in 2009 with drilling to follow in 2010.


----------



## Junior (17 March 2009)

Another capital raising!

I thought they were cashed up AND have an ongoing revenue stream from Galoc.

Is this part of a grand plan to emerge stronger when the oil price recovers?  Or are they raising cash to ensure survival?


----------



## Captain Haddock (26 March 2009)

Junior said:


> Another capital raising!
> 
> I thought they were cashed up AND have an ongoing revenue stream from Galoc.
> 
> Is this part of a grand plan to emerge stronger when the oil price recovers?  Or are they raising cash to ensure survival?




who knows.  I'm 50/50 on buying some more at 7c.  I just don't know if the company is still committing resources elsewhere (exploration in Argentina, Turkey etc.) or if it is just battening down the hatches and surviving.  Hmmm.


----------



## rhen (15 April 2009)

Captain Haddock said:


> who knows.  I'm 50/50 on buying some more at 7c.  I just don't know if the company is still committing resources elsewhere (exploration in Argentina, Turkey etc.) or if it is just battening down the hatches and surviving.  Hmmm.




Technically, at least from my reading of the chart, OEL is very oversold. Euroz seems committed.
http://business.inquirer.net/money/topstories/view/20090414-199356/Galoc-oil-flow-shows-solid-margin

_Otto Energy is meanwhile raising $35 million via an institutional placement and entitlement issue fully underwritten by Euroz Securities. Euroz, which is also helping to place $5.2 million worth of shares from institutional and sophisticated investors, is fully underwriting the remainder after major Otto shareholders Santo Holding and Molton Holdings both agreed to take up their full entitlement and sub-underwrite a proportion of any shortfall up to $9 million each. _

http://www.businessspectator.com.au/bs.nsf/Article/Continental-drift-$pd20090326-QHBAV?opendocument&src=rss

I have recently bought some shares in OEL.


----------



## Captain Haddock (15 April 2009)

since the BHP deal has lapsed, they're now issuing to holders at 5c, 3 for 4.  I'll snap some up, it won't break the bank and I've got big hopes for Argentina!


----------



## onshow (27 April 2009)

Hi all i am pleased to say after much reasearch and reading other peoples thoughts good and bad i have bought my first parcel in OEL today at .061. I just think the potential outweighs the cons on this one if we are prepared to be patiant sure it may drop back to .05cents but i highly doubt it there is to much support around the .06 cent mark and come on why would its major shareholders be taking up the share offer if they didnt know something with potential was there, they are just not going to throw away money at nothing and after all they will be in the loop of know all as they are the mojor shareholders. Sure they have some debt and the share price is up the creek but long term it looks good. These are my thoughts would be great to hear others. good luck to all!!


----------



## Captain Haddock (30 April 2009)

I think you've done well ^.

Otto will bouce back, all the directors are snapping up their share options, the company has sound prospects in several markets.  I think we'll see a run on OEL later in 09.  Will be interesting to see if the BHP deal will be resurrected, they're still in discussions.


and yes I do hold OEL!


----------



## sandybeachs (5 May 2009)

*possible gross revenue from galoc aud$71bbl*

here's the deal..

Palawan Light could be fetching around US$52bbl (Brent US$54bbl).

convert that into AUD$ = AUD$71bbl (excluding taxes etc etc)

Otto's interest in Galoc Oil Field 2755BOPD X AUD$71bbl (excluding taxes etc etc) = AUD$195K per day (excluding taxes etc etc)

with a stab in the dark NET revenue could be AUD$45bbl X 2755 = AUD$124K per day.


----------



## sandybeachs (5 May 2009)

*Gazatta-1 well being drilled soon.*

here's hoping things go well for both Otto & Ascent


Ascent Resources has two very exciting Italian jobs on the horizon – including the Gazatta-1 gas exploration well in the Po Valley. This prospect is in the Bastiglio-Cento block (Ascent 50% and operator, Otto Energy of Australia 50%) which also includes the nearby lookalike target Rubiera. 


Gazatta and Rubiera, according to the seismic evidence, represent a major opportunity for Ascent and its partner. The chance of success at the Gazatta-1 well is put by Ascent at some 60%, very high by industry standards. And with potential unrisked resources estimated at some 350 billion cubic feet of gas, the potential upside in this block is clear. Such large volumes of gas - if they exist - would be worth multiples of Ascent’s current total market capitalisation. Otto has farmed-in for a 50% stake, by paying for the past seismic and the costs of drilling Gazatta-1, and will also pay for drilling Rubiera-1 if certain success criteria are achieved on Gazatta-1. 


Whilst Gazatta-1 is a very important opportunity, there are two further high-impact prospects in the near-term plans, as outlined below

http://www.proactiveinvestors.co.uk...ces-gears-up-for-busy-drill-program-4914.html


----------



## sandybeachs (6 May 2009)

*fairly reasonable day*

11mm plus traded with a high of 8.2cents (closed 7.7 cents)

still the markets are very unpredictable at present and who knows what tomorrow may bring.

*i've got my fingers crossed that Galoc debt will be payed of by the end of June, good chance should oil prices stay above US$50bbl..Following this Otto will have a decent revenue flow..*

Gazzata #1 shouldn't be far away..

.


----------



## musicman (6 May 2009)

havingfun said:


> Had this one for a while now forgot all about it. Very promising tenements in the Philippines ,in trading halt at present.Have been waiting for an off-shore drill rig for nearly a year[hopefullythat is what this is about] Independent report values  stock at between 35c and $1.17 [based on oil at $45 a barrel US.
> If they get their rig it should be a good buy...
> Had a chance to take more in fully funded capital raise last month but didnt.
> See what happens...so keep a watch on it....especially in the current oil climate
> Ive had these over a year so do your own research.....




I have NIDO (NDO) who have 25% of that well which Galoc is operating, 
(check NIDO website)  I think OEL have about 50% maybe more.
Nido say they are pumping 14,000 BPD which should equate to heaps of daily revenue for OEL. 
NDO have jumped from 8 cents to 15 cents in the last few weeks.   

musicman


----------



## sandybeachs (7 May 2009)

*Re: possible gross revenue from galoc aud$71bbl*



sandybeachs said:


> here's the deal..
> 
> Palawan Light could be fetching around US$52bbl (Brent US$54bbl).
> 
> ...




Brent currently at US$56.15bbl. Up US$2.03bbl or +3.75%.

too establish an approx price for Palawan Light you discount Brent between $1.00 ~ $3.00 (i assume thats in US Dollars).

this is good news for Otto, oil price rising means bank debt will be paid off even more quickly. 

as far as i'm aware bank debt will be repaid by the end of June, then Otto will have a decent cash flow coming in.

as usual trade wisely..


----------



## sandybeachs (7 May 2009)

*StockAnalysis report now available*

Just noticed on Otto's website they have a report by StockAnalysis.

might be worth reading.

see below link

http://www.ottoenergy.com/IRM/content/investor_analystreports.html


----------



## Captain Haddock (7 May 2009)

good info Sandy, thanks for that.  If the price of oil holds, OEL will be accumulating quite a lot of $ for exploration and development.


----------



## sandybeachs (8 May 2009)

*StockAnalysis feedback session*

hi Captain Haddock

Otto got another mention today in "StockAnalysis feedback session".

Peter has been a supporter for a longtime.

here's hoping Gazatta #1 can bring some cheer for shareholders, Peter mentions if could be worth 20cps for Otto.


*Topic*


*Time*​
Market Moves & Gold

0:00​
Oil

2:24​
Beach, Horizon, Global

5:22​
Elixir

11:14​
Perseus

13:04​
Pan Pacific, Mt Gibson

14:36​
Audax, Roc

16:42​
Otto

18:59​
Golden Gate

21:15​
Havilah, UXC

22:46​


----------



## sandybeachs (11 May 2009)

seems to be following Nido this morning.

still waiting on news from GPC regarding Galoc Oil Field.

also, we may hear some news this week regarding Gazzata #1 spudding.

markets can be strange at times, still i'm not complaining.

as usual trade wisely.


----------



## sandybeachs (12 May 2009)

*Entitlement Issue completed*


*good news for shareholders, Otto now has cash in the bank for required work commitments*​

*ASX ANNOUNCEMENT*​​​​​​​12 May 2009​

*ENTITLEMENT ISSUE 
‐ NOTIFICATION OF SHORTFALL AND ALLOCATION OF​*
*SHORTFALL*​​​​​​Otto Energy Limited (ASX: OEL) (​
​
*Company *or *Otto*) advises that acceptances
under the Company’s non​​
‐renounceable 3 for 4 entitlement offer announced
on 3 April 2009 (​​
*Entitlement Issue*) closed on 7 May 2009. The Entitlement
Issue raised approximately $16.2 million before issue costs.
Acceptances for 324,960,220 shares were received, representing a take​​
‐up of
approximately 76.5% of the total entitlements available under the Entitlement
Issue.
The Company is also pleased to announce that it has placed the entire shortfall
under the Entitlement Issue to raise a total of approximately $21.2 million
(before issue costs). Placement shares will be allotted on or about 18 May
2009.
All shareholders who applied for entitlement shares under the Entitlement
Issue will receive their entitlement and application monies for additional new
shares will be refunded.
Otto expects that, following allotment of the Entitlement Issue shares, holding
statements and refund cheques will be dispatched on 14 May 2009.
Yours faithfully,​​​​​​_________________
​


----------



## sandybeachs (13 May 2009)

*oil production restarts at Galoc Oil Field*

this is great news.

especially with an oil price thats heading upwards.

Palawan Light may be fetching around US$57BBL. (Brent currently around US$58.50bbl)

Otto's interest approx 2,600BOPD.


----------



## sandybeachs (13 May 2009)

*Re: oil production restarts at Galoc Oil Field*



sandybeachs said:


> this is great news.
> 
> especially with an oil price thats heading upwards.
> 
> ...




"i guess i better update Otto's thread"..LOL

another update just out..

oil production hasn't actually started yet, still undergoing testing..

that's a shocking mistake by Nido.

here's hoping production starts a.s.a.p


----------



## Captain Haddock (13 May 2009)

thanks for the info Sandy, but what do you mean 'a shocking mistake by Nido'? What have I missed?  I think Otto have stopped in Galoc for a typhoon?


----------



## sandybeachs (13 May 2009)

Captain Haddock said:


> thanks for the info Sandy, but what do you mean 'a shocking mistake by Nido'? What have I missed? I think Otto have stopped in Galoc for a typhoon?




hi C.H

Nido put out an announcement this morning *8.24am:* Galoc Operations Update. in which they said "Galoc Oil field had commenced production.

then at *10.14am* they put out a correction saying "Galoc hadn't as yet commenced production and apologized for any inconvenience.

now they've just put out an announcement Galoc is now flowing..you beauty.

all is forgiven..


----------



## sandybeachs (14 May 2009)

*OEL spuds another well in Turkey*

Otto Energy advised that the field operator Petroleum Exploration Mediterranean Int. Pty Ltd (PEMI) reported that the Kirmizihoyuk exploration well located in the Edirne License, onshore Western Turkey, was spudded on May 12, 2009.

The Kirmizihoyuk‐1 well is located 4km NNW of the Bati‐Umur 1 discovery drilled in 2008. The planned total depth of the well is 450 meters and is expected to take approximately 12 days to drill. Kirmizihoyuk‐1 targets P50 prospective gas resources of approximately 0.75bcf within the Osmancik formation.

Six gas discoveries have been made to date on the Edirne License with a number of prospective leads having been identified on 3D seismic, including the Kirmizihoyuk prospect.
Otto holds a 35% interest in the Edirne License. The Edirne License is operated by joint venture partners PEMI (55%) and Petraco (10%).


----------



## Captain Haddock (9 June 2009)

I'm scratching my head why Otto's price is not heading north.  Crude oil has gone up into the high $60s, OEL debt is being paid off fast from Galoc, European gas prospects are highly promising IMHO...

Maybe we just are waiting for some tipsters to rediscover OEL and start plugging it!?


----------



## trader10 (10 June 2009)

Hey Captain,

Hold on..... capping is holding this baby...... news are very close....


cheers


----------



## trader10 (10 June 2009)

*Operations Update*

Perth, June 10, 2009  

Otto Energy Limited (ASX EL)(PINK TTEF) provides an update on its exploration drilling programs in Turkey, Italy and Argentina.

Turkey - Edirne Licence

The Kirmizihoyuk-1 exploration well was drilled and encountered gas over a number of zones of between 3 and 15 metres (m) gross thickness at depths of 330-480m. Over the past week, the upper intervals of seven sets of perforations over a total perforated length of 41m were tested. These intervals flowed gas at individual rates of up to 1.5 MMscf per day with some water production. Total combined rates of the individual zones were around 4.8 MMscf per day. The well will be completed as a future producer.

-----------------------------------------
Name of well Kirmizihoyuk-1
Spud date 13 May 2009
Depth of well Total Depth 500m
OEL beneficial interest 35%
-----------------------------------------
The rig has been moved to the Ikihoyuk-2 discovery well for testing, which is expected to commence later this week.

Italy - Cento-Bastiglia Permits

The Gazzata-1 exploration well was drilling at a depth of approximately 2,219m on the evening of 9 June 2009. Drilling will continue today until a minimum depth of 2,300m or until an appropriate geological horizon is reached. An electric logging evaluation program will then be run. The results of the interpretation of wireline logs will be reported once available.

---------------------------------------
Name of well Gazzata-1
Spud date 19 May 2009
Depth of well Approx 2,219m
OEL beneficial interest 50%
---------------------------------------
Argentina - Santa Rosa Licence

Preparations continue at well site for rig arrival. Schedule remains unchanged for the spudding of the first exploration well to occur in late June 2009.

The Company will continue to update the market on a weekly basis each Wednesday during the drilling and testing programs.


----------



## trader10 (10 June 2009)

*Otto confirms gas in Turkish wildcat*

Otto confirms gas in Turkish wildcat

By Upstream staff 

Australia’s Otto Energy said the Kirmizihoyuk-1 wildcat produced a combined 4.8 million cubic feet of gas a day during several tests run on the gas intervals. 

Kirmizihoyuk-1 encountered gas columns over a number of zones measuring from three metres to 15 metres at depths of 330 metres to 480 metres. 


Tests were run on the upper intervals and over a total perforated length of 41 metres over the last week. 


The well will be completed as a future producer. 


The chartered land rig has moved on from Kirmizihoyuk-1 to test the Ikihoyuk-2 discovery well. Results will be released later this week. 


Otto holds a 35% stake in Edirne. The licence is operated by joint venture partners Petroleum Exploration Mediterranean (55%) and Petraco (10%).


----------



## trader10 (12 June 2009)

Until we get some news from the logging....The Darvas Box are forming nicely..... with good news it could catapult to good levels IMHO.....

Proselenes has brought another good set of information and with it some nice detailed slides from Gazzata-1 from Deltana Energy presentation....

http://ss01.boardroomradio.com/files/DLT/DLT%20-%2020071003.swf[/url]

Have a great weekend all....


----------



## trader10 (12 June 2009)

I'm wondering if the logging has completed Ascent R will issue some news for the market tonight sometime.....

http://www.ascentresources.co.uk/news/index.php


Trading halt would be even more of impact I'd say..... cause they have the weekend for meetings.....


----------



## trader10 (13 June 2009)

Ascent Resources news 12/06/09

Drilling of Gazatta-1 exploration well underway in Po Valley, Italy

In Italy, we are currently drilling the Gazatta-1 gas exploration well in the Po Valley. The drilling contractor, Perazzoli, is 22.5% owned by Ascent and the drilling rig is a new build, low environmental impact, HH-200. The Gazatta-1 prospect is well defined by seismic data acquired and has the potential to be a valuable discovery for Ascent. 

Italy, Po Valley, Cento and Bastiglia Exploration Permit.

(50% interest through Ascent Resources Italia s.r.l.)

Located in the prolific Po valley, the Gazatta-1 well, targeting the Gazzata gas structure, was spudded in May 2009 with drilling expected to be completed shortly. Gazatta-1 is funded and, under the terms of the farm-out agreement with Otto Energy Limited ('Otto'), funding for a second well will be provided if a significant discovery of hydrocarbons is made. Otto has taken a 50% interest in the project in return for paying the costs of one firm and one follow-up contingent well.

The region between Milan to the west and between Venice and Ravenna to the east is the second largest onshore gas producing area in Europe, with some 130 oil and gas fields already discovered. The vast majority of these fields are in the Pliocene sandstones which are the target of the Gazzata-1 well. 

Recent discoveries nearby have relied on the AVO (amplitude versus offset) processing of the seismic data and the Gazzata prospect seismic exhibits these attributes over a large area. The Italian gas market is strong and prices achieved are some of the highest in Europe. A discovery here would be particularly valuable to the Company.

The Cento and Bastiglia Permit is one of the largest in the region and there are a variety of different targets for the on-going exploration work for which additional seismic will need to be acquired.

http://www.ascentresources.co.uk/news/2009/RNS_215_20090612.php

IMHO an update on the logging next week will be coming....that's extremely positive..... and hopefully they are going deeper to 3000 m.

good luck all.....

btw.... if anyone knows ppl at sharetrader co nz tell Shasta the news..... I am not able to log on to the site as I'm using this terminal....

Anyway....have a great weekend all and take care....


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## trader10 (14 June 2009)

Hi all,

Some are already assuming this as a duster....hummmm..... I will stay for the news....I still think they are going to bring logging news and go deeper.....

If it comes as a duster, then we have still St ROSA coming up and Philo producing and Turkey to go in production.....not bad for a stock at 8c IMHO....

I reckon this stock will catch up with NIDO by end of this year without Gazzata......

But,

If you are thinking St Rosa check this out :


http://www.oromin.com/i/pdf/Santa_Rosa_Final.PDF


Well..... I'm looking forward still to the news from Gazzata..... and then more news from Turkey soon, Philo and our Monster ST ROSA !!!!! )))


cheers


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## Captain Haddock (15 June 2009)

trader10 said:


> Hi all,
> 
> Some are already assuming this as a duster....hummmm..... I will stay for the news....I still think they are going to bring logging news and go deeper.....




Hi, what makes you think this?                                                                                                                          ?


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## trader10 (15 June 2009)

Hi CH,

Well, looks like some ppl want out.....boat are leaking now ?

Heard that logs are coming in and being analysed today/tomorrow.

So when the update comes it might tell the story...other than that I'm still here my stop loss have not been hit just yet.... arvo could be interesting......

good luck all


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## trader10 (15 June 2009)

Looking bullish for a falling market.....

ASCENT RESOURCES (AST.L)  8.50   +0.62 (+7.94%)

Interesting times ahead perhaps ? 

cheers


----------



## trader10 (16 June 2009)

Well.... I will not tell you what I think.....

I think the wait was a crock...... 

I'm in for St Rosa now.... far out.....

cheer all


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## prawn_86 (16 June 2009)

Trader10,

Please do not just post price quotes/commentary. If people are interested they can get the quotes from their own broker. 

Thanks

Prawn


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## Captain Haddock (16 June 2009)

It looks like Gazetta was dust, while Edirne has a significant gas deposit.  Not a pretty day for OEL's price today.  Can anyone comment on OEL's Galoc debt?  I'm guessing with the price of oil and the sheer volume they're recovering, it must be getting paid off fast, if not gone already.  

I'd love to read a summary of the Santa Rosa position if anybody knows it well...


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## trader10 (16 June 2009)

Absolutely massive volume on Ascent Resources tonight

33,871,532 traded 

and they have lost at  (-46.59%) 

can't put all the figures because apparently you can find your UK prices from the company from your broker....


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## landy (24 June 2009)

So... did Alex Parks get fired or did he get a better offer somewhere else? Right before the drills start spinning in Santa Rosa - the "company maker" project.  Kinda makes ya wanna go "Hmmmmmmmmm...."

Anyone have an opinion on the new guy?


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## trader10 (26 June 2009)

I've sold all my stake on Otto this morning....

I need the money for another investment....

Good luck all


I will watch St Rosa closely and if it comes good I will be back in....

cheers


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## Captain Haddock (26 June 2009)

Otto has finally paid her debts, and is making good money from Galoc.  $13 million in cash reserves will help with future aquisitions and expanding current prospects.  I don't know for sure, but I think Alex was ditched in favour of a new CEO with plans for growth.  The company has good foundations, it just needs to build on these to grow.  It's all coming together IMHO.  I think we'll see 20c by mid 2010...but just my


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## SUNYA2006 (30 June 2009)

Oel has a similiar or better prospect in comparison with Nido. But I do not understand why there is large gap between them. Maybe Oel will start to catch up with Nido soon . Hopefully adverse procedure will not happen.


----------



## copashark (1 July 2009)

SP behaving strangely. Much bigger volume, is returning for OEL almost 22,000,000 today. Lots of support early in the day end then faded away to finish the day with a small gain. Any idea's why?


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## SUNYA2006 (2 July 2009)

copashark said:


> SP behaving strangely. Much bigger volume, is returning for OEL almost 22,000,000 today. Lots of support early in the day end then faded away to finish the day with a small gain. Any idea's why?




If a little bad news were not declared, Oel should be more stronger. I think it will be upward again  until it catch up with the price of Ndo.


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## landy (17 July 2009)

Santa Rosa has spudded!

"Oromin Explorations Ltd. (“Oromin”) through the Argentina subsidiary, Exploraciones Oromin S.A. (“Oromin”), commenced drilling its first well, OLE.MD.SRE X-2001 on the Santa Rosa Dome Prospect on July 15, 2009 at 5PM, Pacific Daylight Savings Time.

"It is anticipated that it will require less than 14 days to drill to the target depth of 1,300 metres. The Santa Rosa Prospect is a 200 to 300 square kilometre shallow dome structure located within an approximate 7,600 square kilometre concession located in the Cuyana Basin, Mendoza Province, Argentina. 

"The interest holders of the Santa Rosa license are indirectly Oromin as to 67.52% and Australian Otto Energy Limited as to 32.48%. Oromin is the project operator."

See full release at:  (can't post links yet) oromin.com/s/NewsReleases.asp?ReportID=356169


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## antzlovinit (27 July 2009)

Angry that galoc is still not operating and sp remains between 7-8c. Atleast it hasnt fell below 6.5c. Even if galoc was operating would sp increase. For NDO it would.


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## antzlovinit (28 July 2009)

landy said:


> Santa Rosa has spudded!
> 
> "Oromin Explorations Ltd. (“Oromin”) through the Argentina subsidiary, Exploraciones Oromin S.A. (“Oromin”), commenced drilling its first well, OLE.MD.SRE X-2001 on the Santa Rosa Dome Prospect on July 15, 2009 at 5PM, Pacific Daylight Savings Time.
> 
> ...




So in regards to today's announcement, the well they drilled was dry and therefore need to drill somewhere else?


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## lazyfish (28 July 2009)

antzlovinit said:


> So in regards to today's announcement, the well they drilled was dry and therefore need to drill somewhere else?




They might or might not do further drilling. This well was known to be high risk given its long migration path. I am not aware they have any immediate secondary target in the area.


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## Captain Haddock (30 July 2009)

lazyfish said:


> They might or might not do further drilling. This well was known to be high risk given its long migration path. I am not aware they have any immediate secondary target in the area.




some more information from Otto would be good...






                                                                                        .


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## antzlovinit (5 August 2009)

Warning: Oil supplies are running out fast.

check out this article published in uk.

http://www.independent.co.uk/news/science/warning-oil-supplies-are-running-out-fast-1766585.html


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## Captain Haddock (12 August 2009)

antzlovinit said:


> Warning: Oil supplies are running out fast.
> 
> check out this article published in uk.
> 
> http://www.independent.co.uk/news/science/warning-oil-supplies-are-running-out-fast-1766585.html




I hope this sort of thing spurs OEL on in developing further their other oil options in the Philippines


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## arian (6 September 2009)

Does anyone hold this? Any idea whats going on with OEL? Looks like this is only going down everyday


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## kirtdog (18 September 2009)

I dont hold, but looking at the SP its dirt cheap, at pretty much an all time low with pretty high volume.. Any opinions on when if ever the SP is going to turn around??


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## munga (24 October 2009)

kirtdog said:


> I dont hold, but looking at the SP its dirt cheap, at pretty much an all time low with pretty high volume.. Any opinions on when if ever the SP is going to turn around??




could be sooner rather than later
nice flag happening and volume
could breakthru shortly
would like to see some news to give it a leg up


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## Captain Haddock (8 December 2009)

Otto still hovering around 6.5c...they must be banking some serious cash by now?

Looking to expand further into Galoc...



> AUSTRALIAN FIRM OTTO ENERGY LTD. IS eyeing three more prospects in the Galoc oil field in offshore Palawan, to further boost production.
> 
> Under the Galoc Phase 2 development options, Otto Energy said the consortium was targeting to increase 2P reserves by 5 million barrels of oil by drilling two new wells, which are estimated to yield about 4,000 barrels of oil per day.
> 
> ...


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## Atlas79 (10 January 2010)

Two days in a row some nice movement... anyone got an opinion on what's up? We looking at a potential breakout here?


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## condog (10 January 2010)

Atlas79 said:


> Two days in a row some nice movement... anyone got an opinion on what's up? We looking at a potential breakout here?




Ts certainly ready to break out....

From a fundamental point thoguh it has an ordinary history of poorly used cap raisings, with a massive one in 2009 effectively diluting shareholders equity in half...... Its got a lot of upside potential with contract just signed for Ederine....

I ran the numbers and with Galocs 19% interest of 400K BO p.a plus Ederine 30% interest in 12 MMcf / day at say $4net  per GJ.....this gives them net cash flows of approx $8.5M USD or approx 9.2 M AUD p.a before admin and exploration costs......

On this figures in isolation its nothing to get excited about, however therses further exploration in some large very indicative  tenements so it certainly has some upside potential.....

One to keep an eye on....   its bounce this week is on the cash flow news from the Ederine gas contract i assume....


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## doogie_goes_off (15 January 2010)

A deal with BHP sees BHP fund a large seismic program, potentially 2 deep holes and earning up to 60%. As a 40% contributor to such a project if sucessful OEL revenue could grow considerably. A hold position for a year or two could be quite lucrative. NB - Holding a few. Oh yeah and has finally broken out of trading range on the news (nice)


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## condog (16 January 2010)

Well the gas contract wheren much puff, but by god the bHP announcment has the punters excited.....

And it looks like OEL has managed somehow to negotiate a pretty reasonable outcome for multiple scenarios....

One to keep an eye on ..... lookout for seismic results and hopefully possible drilling announcments...This should certainly accellerate things ans free a lot of cash flow.... A Great result for OEL so far...


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## Happy (17 January 2010)

I just hate those gaps, that almost always seem to get filled in.

Hope it is different this time (?)


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## Boognish (21 January 2010)

A bit of backstory, I jumped on OEL at 14c when some analysts were tipping it.  Turned out to be a good 'un as it climbed to 54c at one point but I got greedy and did not jump off.  OEL seems to have been hit extra hard by the GFC but I am pleased that it's showing signs of life once again.  They surely must be about to have a good year.


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## Happy (21 January 2010)

On my chart OEL price goes only up to about $0.44 so there must have been some adjustment on the way.


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## Atlas79 (28 January 2010)

*DRILLING UPDATE – KUMLUK‐1, EDIRNE LICENCE, TURKEY

Otto Energy Limited (ASX: OEL) advises that the Kumluk‐1 exploration well reached a total depth of 550 metres (m). After logging of this well, net pay of a total of 9m over three intervals was interpreted. These results are in line with pre‐drill estimates. This continues the 100% exploration drill success that Otto has experienced in our Edirne licence area.
The well has been cased and cemented as a potential future production well.
The Operator is preparing to move to the next well location and anticipates spudding the Kartal‐1 well during next week, depending upon prevalent weather conditions.

Yours faithfully*


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## skip9 (17 February 2010)

Strong Results of late for OEL. What are the thoughts on what will be the significant factors for OEL to continue over 2010?


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## Boognish (19 March 2010)

Today's annoucnement:



> TURKEY EXPLORATION AND DEVELOPMENT UPDATE
> Edirne Gas Plant
> 
> Otto Energy Limited (ASX: OEL) is pleased to advise that the construction of the Edirne Gas Plant System has been completed.  Gas sales will commence following completion by BOTAS, the state‐owned pipelines and trading company in Turkey, of a hot tap on its 14” main line to create the delivery point for the Edirne gas. The Joint Operators are in the process of retrofitting the hot tap fitting to accommodate Botas’ requirements.  The hot tap is expected to be completed near the end of March with first gas
> ...




Good to see a junior moving ahead to production.  I hold a small parcel in this company so obviously I wish them all the best


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## Slipperz (9 July 2010)

I think OEL has about to bounce.

I brought in on the technicals. 

 A doji followed by two inverted hammers is a fair indicator we are in for a trend reversal here.

Volume has all but dried up, fundamentals are solid.

Cashflows are good and exploration prospects excellent.

In for a medium term hold.


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## BESBS Player (6 December 2011)

Been buying into OEL as a BESBS play for Q2 2012 over the past 3 weeks.

Big targets, BHP alongside. Providing the market holds up, seems a no-brainer. Got my fill. Now wait and see...



Holding OEL at ave. 8.9c


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## Wysiwyg (6 December 2011)

Strong rejection of 10.5 c today. Entry was on the 28th Nov. and exit was today. Plenty of time for another low lesser 9 cents.


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## BESBS Player (15 December 2011)

Agree WYSIWYG.

I'm not buying above 9c and I'm watching for any dips as momentum stalls and we get a rough day or two along the way on the market. Bound to happen in this global climate. If needed, I'll average down slightly as this should be a ripper BESBS play when drilling approaches mid-2012.


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## BESBS Player (22 December 2011)

Liked the confirmed drilling date in the recent Investor presentation

*"SC 55:

BHP partner.

Cinco prospect to be drilled April 2012."*

Been accumulating more and will try to pick up a few more if the SP drops in a general market downturn. Still looking for cheap bites 


Holding now at 8.7c ave


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## Bonk (28 December 2011)

Hearing hints that something could come out of left field on East Africa. OEL is to have change . Dont know what exact , but be alert for it all. That includes a new well to be announced in Philippines ?

Hold OEL av 7.5c


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## BESBS Player (12 January 2012)

Hi Bonk,

Nice to see the SP heading northward. 9.5c is a nice place to be this far out from drilling.
I'd be happy for anything from East Africa - don't think that would hurt the SP!!:

Holding at 8.7c ave.


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## BESBS Player (10 February 2012)

Still holding despite the rig issues. Should still be a good BESBS run in 2012.

Holding OEL at ave. 8.9c


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## BESBS Player (23 February 2012)

Looks like many punters xpecting that BHP will pull some strings and get drilling done mid-year. Nice to see SP at 10.5c and pushing 11c at times. 

Holding OEL at 8.9c ave


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## BESBS Player (20 March 2012)

Have decided to exit OEL.

While Galoc looks good, for me I prefer to see big target drills as a more secure way of getting the SP to move and keep moving northward.

Given the uncertainty of getting a rig for drilling (and we can all speculate on this, as many punters surely are, but the reality is that we have no news or strong hint from BHP that drilling is ), I'll lock in a profit to insure against a possible SP drop if drill is delayed. If the news is good, I can always retrun. 

Bought: 8.9c
Sold: 14.2 ave

Profit: 55%+ profit


----------



## urgalzmine (16 April 2012)

BESBS Player said:


> Have decided to exit OEL.
> 
> While Galoc looks good, for me I prefer to see big target drills as a more secure way of getting the SP to move and keep moving northward.
> 
> ...




Mate nice timing, announcement today 

Otto Energy Ltd (ASX:OEL) advises that BHP Billiton (ASX:BHP), as operator of Philippines Service Contract 55 (SC55), has requested that the Department of Energy (DOE) extend the current Exploration Sub-Phase 4 of SC55 by 18 months. If approved by the DOE, this would extend the current contractual deadline to complete drilling of the commitment well from *5th August 2012 to 5th February 2014.*


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## BESBS Player (13 December 2012)

Been buying in OEL over the past 3 weeks. With the Philippine drill due by August 2013 with BHP as the JV partner driving the project, this seems a straight-forward Buy Early Sell before Spud (BESBS) play.
Once drill rig is booked and announced, then up she goes. I've managed to accumulate between 8.3c and 8.9c and am very happy (given the market and limited opportunities for good BESBS plays) to be here. I'll be hoping for a 100% return on drill as history suggests 16-19c is not unreasonable on a big drill. The SP has been historically low so the platform to buy has been comforting.
Lets see how we go...

Cheers,
BESBS


Holding at 8.6c ave


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## captain salty (16 December 2012)

BESBS Player said:


> Been buying in OEL over the past 3 weeks. With the Philippine drill due by August 2013 with BHP as the JV partner driving the project, this seems a straight-forward Buy Early Sell before Spud (BESBS) play.
> Once drill rig is booked and announced, then up she goes. I've managed to accumulate between 8.3c and 8.9c and am very happy (given the market and limited opportunities for good BESBS plays) to be here. I'll be hoping for a 100% return on drill as history suggests 16-19c is not unreasonable on a big drill. The SP has been historically low so the platform to buy has been comforting.
> Lets see how we go...
> 
> ...




  Recent management changes since Alex Parks have done wonders with this stock and are systematically building a business, rather than throwing the dice and gambling like most small oil specs. Can find a safer bet, high impact prospects and steady production income, thats what sets it apart from stocks like far, pcl etc.

Cheers and please remember not too much "salt"


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## BESBS Player (17 December 2012)

Hi Salty,

Happy to agree on the production etc but for me, I play the Buy early Sell Before Spud (or during the drill) hence the BESBS name. For me, it is all about the BHP drill in 2013 as that should get the punters in.

Still, there are many ways to make money in this game. 
All the best with your investments.

Cheers,
BESBS


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## BESBS Player (7 January 2013)

Nice to see 2013 beginning and the punters starting to get set before BHP announce a rig for Cinco SC 55. While no confirmation of this at present, plenty of punters assuming that BHP will be working overtime to get this done before the August 2013 deadline.

OEL's last report mentioned possibly 5 drills this year - at least 2 being development wells. The timing of these might impact on Cinco and a pre-spud run but happy with things to date. With SP nice at 9.9c, hopefully it won't be long and the SP will start to go up in .005c bites once it is above 0.10c.

Watching and smiling...

Holding at 8.6c ave


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## BESBS Player (10 January 2013)

Interesting that OEL response to ASX mentioned 2 drillings for Q2 2013. One can't ever assume that this is definite, but nonetheless, such statements do give extra confidence to a pre-spud run. 

Happily holding OEL at 8.6c ave


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## BESBS Player (1 July 2013)

Good news out today. Action coming in the next couple of months. 

I've accumulated a few in the 'June sales' and wait for some SP traction into spud. Hopefully the market will be stable enough to allow this. Time will tell but today's SP reaction to the news was positive.

Holding OEL @ .08c


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## countryboy (10 October 2013)

Ok jump forward to oct 2013 and we have Otto pulling out of one field and a delay from a partner in drilling. Investors have not pushed the price to new highs in recent times ,11.5 was starting to look interesting. The technical details of the current drilling I will leave to the experts but for investors like me BHPs continued investment keeps me interested.


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## countryboy (23 February 2015)

Otto have sold galoc and have/about to have some solid $$ in the bank. (135 mill Aus)
capital return of 0.064 c- share price hovering around 10 c
timing of this was interesting with collapse of the oil price

management will now be keenly looking at finding another "galoc" field


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## greggles (15 December 2017)

Otto Energy feeling the heat today after announcing that it will be plugging and abandoning its ST 224 #1 exploration well located in offshore Gulf of Mexico. 

After drilling to a depth of 10,900 feet they have found nothing but sand and seawater. OEL down 15.69% to 4.3c at the moment as a result. Intraday low was 3.9c.


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## greggles (26 April 2018)

Otto Energy has bounced back nicely since December and has surged today after more details about the company's flagship South Marsh Island Block 71 (SM 71) oil project in the Gulf of Mexico were announced. OEL has a 50% working interest (40.625% net revenue interest) in SM 71. The operator, Byron Energy Limited (BYE), holds the remaining 50% working interest.

Total production to date on SM 71 is 83,000 barrels of oil and 55.5mm cubic feet of natural gas. SM 71 F Platform daily volumes are now averaging 4,650 barrels of oil per day and 3,200 thousand cubic gas per day. Otto's net sales revenue at the current rate of production is approximately USD$125,000 per day based on WTI of US$68 per barrel. These production rates would generate a monthly operating cash flow of approximately US$3.7 million.

A great result for OEL. The share price is currently up 16.35% to 6.4c so far today.


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## greggles (10 May 2018)

Otto Energy continues to make solid gains, closing today at its high of 7.8c. It is now looking very bullish and I suspect it will go higher in the short term. 

Director Ian Boserio purchased a further 445,000 shares on market between 2 and 7 May bringing his total holdings to 2,073,571 shares.


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## greggles (4 February 2019)

Gap up for Otto Energy today as a result of good news at the Lightning prospect in Matagorda County Texas. The exploration well, Green#1, has reached final total depth of 15,216 feet and petrophysical evaluation has confirmed the well to be a commercial discovery with a minimum 180 feet of net pay, well exceeding pre-drill expectations.

The news has sent OEL north on high volume of more than 65,000,000 shares and it is currently trading at 6.3c, up 50% on Friday's close. Looking for it to fill the gap and get and consolidate above 7c.


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## Miner (15 May 2019)

CVN IS under hold- ASX link https://www.asx.com.au/asxpdf/20190515/pdf/4453b4x5gb520b.pdf - what kind of bullet story would be published on Friday 17 May 19?? 

Capital raise was done in March and in two months time, oil cannot be discovered. 
https://www.asx.com.au/asxpdf/20190329/pdf/443wcftkpkyy08.pdf
Green canyon story was published on 29 March 2019
https://www.offshoreenergytoday.com/otto-energy-farms-into-talos-gulf-of-mexico-license/
The story also advised the market 
"As for Bulleit, it is an amplitude-supported Pliocene prospect with similar seismic attributes to the analogous sand section in Talos’s Green Canyon 18 field, which has produced approximately 39 mmboe to date.

The prospect sits in approximately 1,200 feet of water and is 16 kilometers from the GC 18A platform.

The DTR-10 oil sand, which is the primary target of the Bulleit well, was first discovered in 1984. A sidetrack of the first well also found oil pay in both DTR-10 and deeper MP sands. Production rates expected from the MP sand when tied into a production platform are expected to deliver between 8-15,000 boepd.

No discoveries were developed in the lease, and there is no infrastructure available.

Talos’ GC 18A platform has spare capacity within tie-back distance of GC 21, and a subsea development is planned to tie the Bulleit well into the platform.

Bulleit prospective resources (P50) are 14.5 mmboe. According to Talos, the prospect’s gross prospective resources are expected to be between 10 to 30 mmboe on an unrisked basis.


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## Miner (20 July 2019)

If someone wants to post a conviction on a constant down-trending share on an optimistic note then Kalkine deserves a pat on the back for this posting : (DYOR as it could have been recommended over a bottle of scoth  )

*"At the end of the quarter*, the company had a closing cash balance of A$6.0 million. During the quarter, the company raised capital amounting to A$31 million through a placement and underwritten 1 for 5 rights issue.

_Outlook: _The company expects to generate substantial cash flows from the sale of steady production from its 50% owned SM 71 oil field in the Gulf of Mexico.

_Stock Recommendation: _The stock of the company generated returns of -3.92% and -12.50% over a period of 1 month and 3 months, respectively. The Lightning field development taken up by the company represents a major milestone in fulfilling its goal of becoming a successful oil and gas producer in the Gulf of Mexico. *The company is making continuous progress towards its strategic production goal of 5,000 boepd by the end of 2020*. *However, we are yet to see how production from the Lightning field or exploration at Thunder Gulch #1 well will unfold into future earnings.* *Hence, we put our wait and watch stance on the stock at the current market price of $0.047, down 4.082% on 17 July 2019." (what is this meant for a paid subscriber- wait and watch for what? Further fall ??*


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## Miner (8 August 2019)

after reading the remarkable performance, I sold out AGL holding this morning.
Technically sound but need work than rorting my money there. Will wait for return unless it was a too quick decision. Good thing however (sorry for holders) that price went down since I sold out.


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## Miner (6 October 2022)

3 year's drought on this thread 
BTW, interesting adverts appear on top of this thread -
DNH OEL but intrigued to see its performance . Running at loss but no debt. Macquarie has given them some assurance in case needed.
could OEL ready for a capital raise  and jacking up the stock ? Dunno but interesting investor conference happened yesterday  hints of a CR


			https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02573711-6A1111762?access_token=83ff96335c2d45a094df02a206a39ff4
		






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