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

Bullboard Posts

Post by CarefulEyeon Dec 20, 2002 6:52pm

275 Views

Post# 5700473

Any hope?

I'm surprised this POS has held at $.20 (it probably won't for long). There just doesn't seem to be any reason for optimism. First, Crosby 36A proved a bust, then Dundee bailed. Forget the PEI play. The Company's flat broke -- of course, they should never have gotten involved in this insane speculation when they have proven reserves in LA that they can't afford to get out of the ground. The revenue they collect now from 150 barrels a day barely covers expenses. Heck, even the eternal optimists, Osprey and Manzare, have disappeared. This is dead meat. Rest in peace.

Bullboard Posts

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