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Re: OEL - Ottoman EnergyOtto acquires an 18.28% interest in the Galoc Oil Field,offshore PhilippinesHighlights:• Otto Energy has entered into agreements to acquire an 18.28% interest inthe 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 2Preserves of 23.4 MMbbls for the Galoc Field• The Galoc Field is currently under development with “first oil” anticipatedin April 20I hold both OEL andf NDO, did not that see that coming....good news for bothconsolidation of Philippines explores.
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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