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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Comment by riverrowon Jun 16, 2005 7:03am

99 Views

Post# 9167105

RE: I sure hope too

I think it was QEC that came out of similiar problems by granting their creditors 25 cents on the dollar. I can't see OEL creditors, especially if they are unsecured, getting more than that. My average cost is around 20 cents, so if OEL were to trade again at 3 cents, that would only be 15 cents on the dollar for me. Any creditor should be grateful? for 25 cents?

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