OEL - (Otto) Multi based, Gambling Stock.

[shasta]

OEL going for a bit of a run today! +5c.

Nice jump today was enough to hit an old sell order, am still a bit concerned with the markets in general with the DOW & the POO.

A nice profit none the less, & i shall return when i know all is well with Galoc & the flow rates are known.

Have other short term targets

My selling of OEL, does not change my sentiment at all.

OEL is the real deal, & 2008 will be a great year

[shasta]

Nice jump today was enough to hit an old sell order, am still a bit concerned with the markets in general with the DOW & the POO.

A nice profit none the less, & i shall return when i know all is well with Galoc & the flow rates are known.

Have other short term targets

My selling of OEL, does not change my sentiment at all.

OEL is the real deal, & 2008 will be a great year

Galoc update (via NDO)

http://www.stocknessmonster.com/news...E=ASX&N=409178

Gas flow from the 2nd well

http://www.stocknessmonster.com/news...E=ASX&N=409101

[tricha]

And yes oil to flow soon as WELL, then we will see some excitement!


4 June 2008

Otto Flows Gas from Second Well - Kuzey Arpaci-1
Edirne, Western Turkey

Joint venture partners Otto Energy (ASX: OEL) and Incremental
Petroleum (ASX: IPM) announce that the Kuzey Arpaci-1 well has
tested at excellent flow rates from a tested section of only 5m in the
lower reservoir.

Highlights

•

Kuzey Arpaci-1 flowed dry gas at a rate of 1.15 MMscf/d over
the interval 462.8m to 467.5m at a stabilized rate of 1.15
MMscfg/d through a ½ inch choke.

•

Another, shallower reservoir section is also present in this
well and will be available for future production.

•

This is the second confirmed commercial flow rate from the
Edirne discovery wells.

Following the shut in period additional perforations will be added and
the well will be flowed again and prepared as a future production well.
The rig will then move to test the Arpaci 1 well, which was drilled in
January 2006, before the 3D seismic was available.

HIGHLIGHTS

• Strong board and
management.
• World class portfolio across
4 countries.
• Imminent production from
Galoc at 3000-4000 bopd
net to Otto.
• 6-10 well exploration
campaign in 2008.
• Opportunity rich with
- 8 discoveries
- 16 prospects
- Over 60 leads
in the portfolio.

The partners in the Edirne Gas project are

Otto Energy 35% and Joint Operators
Incremental Petroleum (55%) and Petraco Energy (10%).
The attached release from Incremental Petroleum provides further information on
the Kuzey Arpaci-1 well test.
Yours faithfully

_________________
Alex Parks

Chief Executive Officer
For further information visit Otto’s website

www.ottoenergy.com or contact:
Jill Thomas
Corporate & Investor Relations Manager
Otto Energy
+61 (0) 8 6467 8800
0439 440 016

thomas@ottoenergy.com

[Type text]

4th June 2008
Australian Securities Exchange (ASX)
By ASX online

Incremental again has excellent gas rates in West Turkey well No.
2 partial test

Incremental Petroleum (ASX: IPM) and Otto (ASX: OEL) are pleased to announce
that the Kuzey Arpaci 1 well has tested at excellent rates from a tested section of
only 5m in the lower reservoir. Incremental is the joint operator and holds 55%
interest in the Edirne gas project.
The interval 462.8 to 467.5m flowed at a stabilized rate of 1.15 mmscfg/d through a
½” choke. After the shut in period additional perforations will be added, the well will
be flowed again and prepared as a future production well. Another, shallower
reservoir section is also present in this well and will be available for future production.
The rig will then move to test Arpaci 1, which was drilled in January 2006, before the
3D seismic was available. The log interpretation on this well is ambiguous, and the
purpose of the test will be to determine if gas is present. In the event that the test is
wet, it will have no impact on the JV development plans, where we are rapidly
moving towards monetizing this significant asset.
The partners in the Edirne Gas project are Incremental Petroleum 55%, Otto Energy
35% and Petraco Energy (10%), who are also the joint operator with Incremental.
Gerard McGann
Managing Director

[Type text]

ORTAKCI
IKIHOYUK
ARPACI 2
KUZEY
ARPACI

0 5 km

3D AREA

LICENCE
BOUNDARY

LOCATION MAP

ARPACI 1

Figure 1: Location of four wells in 2008 Edirne drilling campaign

[Type text]

[shasta]

And yes oil to flow soon as WELL, then we will see some excitement!

4 June 2008
Otto Flows Gas from Second Well - Kuzey Arpaci-1
Edirne, Western Turkey
Joint venture partners Otto Energy (ASX: OEL) and Incremental
Petroleum (ASX: IPM) announce that the Kuzey Arpaci-1 well has
tested at excellent flow rates from a tested section of only 5m in the
lower reservoir.
Highlights

•

Kuzey Arpaci-1 flowed dry gas at a rate of 1.15 MMscf/d over

the interval 462.8m to 467.5m at a stabilized rate of 1.15
MMscfg/d through a ½ inch choke.
•

Another, shallower reservoir section is also present in this

well and will be available for future production.
•

This is the second confirmed commercial flow rate from the

Edirne discovery wells.
Following the shut in period additional perforations will be added and
the well will be flowed again and prepared as a future production well.
The rig will then move to test the Arpaci 1 well, which was drilled in
January 2006, before the 3D seismic was available.
HIGHLIGHTS
• Strong board and
management.
• World class portfolio across
4 countries.
• Imminent production from
Galoc at 3000-4000 bopd
net to Otto.
• 6-10 well exploration
campaign in 2008.
• Opportunity rich with
- 8 discoveries
- 16 prospects
- Over 60 leads
in the portfolio.
The partners in the Edirne Gas project are

Otto Energy 35% and Joint Operators

Incremental Petroleum (55%) and Petraco Energy (10%).
The attached release from Incremental Petroleum provides further information on
the Kuzey Arpaci-1 well test.
Yours faithfully
_________________
Alex Parks
Chief Executive Officer
For further information visit Otto’s website www.ottoenergy.com or contact:
Jill Thomas
Corporate & Investor Relations Manager
Otto Energy
+61 (0) 8 6467 8800
0439 440 016
thomas@ottoenergy.com
[Type text]
4th June 2008
Australian Securities Exchange (ASX)
By ASX online
Incremental again has excellent gas rates in West Turkey well No.
2 partial test
Incremental Petroleum (ASX: IPM) and Otto (ASX: OEL) are pleased to announce
that the Kuzey Arpaci 1 well has tested at excellent rates from a tested section of
only 5m in the lower reservoir. Incremental is the joint operator and holds 55%
interest in the Edirne gas project.
The interval 462.8 to 467.5m flowed at a stabilized rate of 1.15 mmscfg/d through a
½” choke. After the shut in period additional perforations will be added, the well will
be flowed again and prepared as a future production well. Another, shallower
reservoir section is also present in this well and will be available for future production.
The rig will then move to test Arpaci 1, which was drilled in January 2006, before the
3D seismic was available. The log interpretation on this well is ambiguous, and the
purpose of the test will be to determine if gas is present. In the event that the test is
wet, it will have no impact on the JV development plans, where we are rapidly
moving towards monetizing this significant asset.
The partners in the Edirne Gas project are Incremental Petroleum 55%, Otto Energy
35% and Petraco Energy (10%), who are also the joint operator with Incremental.
Gerard McGann
Managing Director
[Type text]
ORTAKCI
IKIHOYUK
ARPACI 2
KUZEY
ARPACI
0 5 km
3D AREA
LICENCE
BOUNDARY
LOCATION MAP
ARPACI 1
Figure 1: Location of four wells in 2008 Edirne drilling campaign
[Type text]

Weekly update via NDO

http://www.stocknessmonster.com/news...E=ASX&N=409924

[ELYOB]

Euroz report out today becoming more conservative target 12 months 60c .... but indicate lots of possible farmouts of big Palawan plays by Sept quarter which could be very interesting.......looking for $1 longer term . High entry price atm 41c is speculative in their view ......

[AMR]

Just done a double top pattern too...I should have been more attentive in this case and gotten out at 48. Bah!

[shasta]

Just done a double top pattern too...I should have been more attentive in this case and gotten out at 48. Bah!

I got out at an average of 48c, or 50% profit...

Am waiting til Galoc is up & producing at intended flow rates before returning.

Though i wasn't in AED, it stills remains a constant reminder that things do go wrong in the O&G game...

Doesn't mean OEL won't fly, cos it will & i wouldnt miss the Santa Rosa drilling for anything (though it may be 2009 now?).

[AMR]

Yes this stock is beginning to test my patience. One mistake OEL, and you'll become VPEO. The mistake being either commissioning delays/problems at Galoc or a close below 40.

[ritchie]

Question...at begining of trade there was a buyer at 60 and one at 50.........and a seller at 41.

Why would someione want to buy at 60......is it top of the buy list gets the seller at 41.....

If you put a buy order in at 60 and there is a seller at 41......do4es the broker sell at 41 or 60.

Learning all the time

[AMR]

Question...at begining of trade there was a buyer at 60 and one at 50.........and a seller at 41.

Why would someione want to buy at 60......is it top of the buy list gets the seller at 41.....

If you put a buy order in at 60 and there is a seller at 41......do4es the broker sell at 41 or 60.

Learning all the time

The ASX works out an equilibrium price and that's the opening price...