Otto Energy Ltd V.OEL

Primary Symbol: OTTEF

Energy Oil & Gas E&P

Otto Energy Limited is an Australia-based oil and gas exploration and production company, which is focused on the Gulf of Mexico region. The Company’s projects include South Marsh 71 (SM 71), Lightning Field, Green Canyon 21 (GC 21), Mosquito Bay West, Oyster Bayou South and South Timbalier 48. The South Marsh 71 is located in the offshore shallow waters of the Gulf of Mexico. The Lightning Field is located in onshore Matagorda County, Texas. The Green Canyon 21 is located in the offshore deep waters of the Gulf of Mexico. The Mosquito Bay West and Oyster Bayou South are located in the offshore state waters, Terrebonne Parish, Louisiana. The South Timbalier 48 is located in the offshore shallow waters of the Gulf of Mexico. The Company's subsidiaries include GPC Investments SA, Borealis Petroleum Pty Ltd, Otto Energy Alaska (Delaware) LLC, Otto Energy (USA) Inc, Otto Energy (Louisiana) LLC, Otto Energy (Patrick Henry) LLC and others.

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Otto Energy Ltd

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Post by riverrowon Dec 16, 2002 5:02pm

214 Views

Post# 5683138

I Have decided to not participate!!!!

Over the last few months I made an arrangement with my broker that he would purchase shares of OEL at an average price of 40 cents. Now that the price of OEL is languishing at 20 cents I have decided to not participate in this ownership and my broker can take all those shares back and distribute them back to their original owners. Isn't that how it works? If the price goes down after I make an agreement I can renege on the deal, right?

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