OEL - (Otto) Multi based, Gambling Stock.

[ritchie]

and another this morning...why is this.

[shasta]

and another this morning...why is this.

This is the regular Galoc update, same as NDO...

All good & first oil is upon us...

Oh & 6 gas discoveries in a row (100%) ...

....& OEL are using this style analysis for Gazatta-1 in Sept....mmm

[tricha]

This is the regular Galoc update, same as NDO...

All good & first oil is upon us...

Oh & 6 gas discoveries in a row (100%) ...

....& OEL are using this style analysis for Gazatta-1 in Sept....mmm

I wonder how much this is all worth to Otto Shasta. Just a little icing on the cake to what happens in a few weeks




1

st May 2008

Australian Securities Exchange
By ASX online
Otto makes 6

th Gas Discovery in Turkey

Joint venture partners Otto Energy (ASX: OEL) and Incremental
Petroleum (ASX: IPM) are pleased to announce the confirmation of
several gas bearing intervals in Ortakci-1 exploration well, the third of
a 5-well drilling program currently underway in the Edirne Licence in
Western Turkey.
Highlights
•

Ortakci-1 encountered approximately 20m net gas pay

intervals located between 238m and 332m, with excellent
porosity averaging 25%.
•

Ortakci-1 was drilled to a total depth of 524m and the present

operation is running casing for flow testing once drilling of all
five wells is completed.
•

Ortakci-1 is the largest and western-most of the 17 structures

mapped on the 2007 3D seismic, covering an area of
approximately 3 sq km.
•

The drilling rig will now be moved to the 4th well site Arpaci-2,

an updip appraisal well of the Arpaci-1 discovery made in
2006.
The 5-well program is designed to prove up significant volumes of gas
to enable a combination of these gas discoveries to be placed on
production by mid-2009.
The partners in the Edirne Gas project are Otto Energy 35%,
Incremental Petroleum 55%, and Turkish partner and Joint Operator
Petraco 10%.
Commenting on the news Alex Parks, CEO of Otto Energy said:
“This is another excellent result - with a total of six new-field gas
discoveries now made from six wells drilled since Otto acquired the
Edirne licence in 2004. These small gas fields are relatively close
together and can be developed through a central development hub. We
look forward to commercializing these discoveries once the drilling and
testing program has been completed by end June 2008. .”
The attached release from the Joint Operator Incremental Petroleum
provides further details on the Ortakci-1 discovery well.
Yours faithfully
_________________
Alex Parks
Chief Executive Officer
For further information visit Otto’s website

www.ottoenergy.com or

contact:
Alex Parks Jill Thomas
Otto Energy Limited PPR Investor Relations
+61 (0) 8 9226 0001 +61 (0) 8 9388 0944
info@ottoenergy.com jthomas@pprwa.com.au
ABN: 38 115 711 601
20 Howard Street PERTH WA 6000 Po Box Z5490 PERTH WA 6831
Ph: +618 9481 8696 Fx: +618 9481 2394
1 May 2008
Australian Stock Exchange
By ASX online
•

6th gas discovery in Turkey

•

20 metres of potential net gas pay in third well at Edirne

•

Largest mapped structure on block

Incremental Petroleum (ASX: IPM) and Otto Energy (ASX: OEL) are
pleased to announce that Ortakci -1, the third well in this year’s five well
drilling campaign at Edirne, has encountered some 20m of potential gas
bearing net reservoir sands. The sands are located between 238m and
332m. Reservoir properties are excellent, with an average porosity of 29%.
The presence of gas is confirmed with wireline pressure measurements
and nuclear magnetic logging. Testing of the gas productivity will be
undertaken at the end of the drilling campaign in a few weeks.
Ortakci 1 was drilled to a total depth of 524m, and the present operation
is running casing. The rig will then move to Arpaci 2.
ORTAKCI
IKIHOYUK
ARPACI 2
KUZEY
ARPACI
0 5 km
3D AREA
LICENCE
BOUNDARY
LOCATION MAP
BATI YAGCI
Figure 1. Location of five wells in 2008 Edirne drilling campaign
The Ortakci structure is the largest of the 17 structures mapped on the
2007 3D seismic and is a broad feature coincident with strong seismic
amplitudes covering an area of about 3.0 sq. km. The excellent reservoir
thickness and high porosity greatly enhance the prospectivity of the
more western parts of the Edirne concession.
ABN: 38 115 711 601
20 Howard Street PERTH WA 6000 Po Box Z5490 PERTH WA 6831
Ph: +618 9481 8696 Fx: +618 9481 2394
The 2008 drilling campaign involves the drilling of five wells (Figure 1)
targeting a combined 10-20 BCF. The programme is designed to prove
up significant sales volume of gas to enable a combination of these
shallow structures to be placed on production by mid 2009.
The partners in the Edirne Gas project are Incremental Petroleum (55%),
Otto Energy (35%) and Petraco Energi (10%), who are also joint operator
with Incremental.
Gerard McGann
Managing Director

[tricha]

Aquila Centre Level 3, 1 Preston Street Como WA 6152 P :+61 8 9474 0000 F: +61 8 9474 0099 www.nido.com.au Unit 38B, 38th Floor Philamlife Tower 8767 Paseo de Roxas Makati City 1226 Philippines P: +63 2 856 5492 F: +63 2 856 5494 ASX Code: NDO 30 April 2008
Company Announcements Office
Australian Securities Exchange Limited
Level 10, Exchange Centre
20 Bond Street
SYDNEY NSW 2000

Galoc Project Update to 30 April 2008

Nido Petroleum Ltd (Nido) is pleased to provide this update on the development of the Galoc oil field, offshore Palawan Basin, The Philippines.
Crude Oil Assay Results
During the past week, Nido received the results of the crude oil assay from the samples collected during the well flow testing in February. The assay results indicate that the Galoc oil is a light, non-waxy, medium sulphur crude with good middle distillate yields.
Nido’s Deputy Managing Director, Ms. Joanne Williams, said "We are very pleased with these results as they indicate that the Galoc crude is compares favourably with the higher sulphur crudes that are imported to South East Asia from the Middle East. We are continuing our marketing efforts with Trafigura and these results will greatly assist us with our work."
FPSO ‘Rubicon Intrepid’
The last remaining item in the development sequence is the mobilisation, hook-up and on-site commissioning of the FPSO ‘Rubicon Intrepid’ and the subsea equipment. The Operator, the Galoc Production Company, has advised that the pre-commissioning work is continuing on the FPSO at Batangas, some 120km south of Manila. As advised in our recent releases, first oil is expected in May 2008.
Aquila Centre Level 3, 1 Preston Street Como WA 6152 P :+61 8 9474 0000 F: +61 8 9474 0099 www.nido.com.au Unit 38B, 38th Floor Philamlife Tower 8767 Paseo de Roxas Makati City 1226 Philippines P: +63 2 856 5492 F: +63 2 856 5494 ASX Code: NDO
Nido will continue to provide the market with regular updates on the Galoc development and will notify the market immediately of material events.
Yours sincerely
Joanne Williams
Deputy Managing Director

For more information please contact:

Ms. Joanne Williams
Deputy Managing Director
Ph: +61 8 9474 0000
F: +61 8 9474 0099

www.nido.com.au

[shasta]

I wonder how much this is all worth to Otto Shasta. Just a little icing on the cake to what happens in a few weeks




1

st May 2008

Australian Securities Exchange

By ASX online
Otto makes 6

th Gas Discovery in Turkey

Joint venture partners Otto Energy (ASX: OEL) and Incremental

Petroleum (ASX: IPM) are pleased to announce the confirmation of
several gas bearing intervals in Ortakci-1 exploration well, the third of
a 5-well drilling program currently underway in the Edirne Licence in
Western Turkey.
Highlights
•

Ortakci-1 encountered approximately 20m net gas pay

intervals located between 238m and 332m, with excellent

porosity averaging 25%.
•

Ortakci-1 was drilled to a total depth of 524m and the present

operation is running casing for flow testing once drilling of all

five wells is completed.
•

Ortakci-1 is the largest and western-most of the 17 structures

mapped on the 2007 3D seismic, covering an area of

approximately 3 sq km.
•

The drilling rig will now be moved to the 4th well site Arpaci-2,

an updip appraisal well of the Arpaci-1 discovery made in

2006.
The 5-well program is designed to prove up significant volumes of gas
to enable a combination of these gas discoveries to be placed on
production by mid-2009.
The partners in the Edirne Gas project are Otto Energy 35%,
Incremental Petroleum 55%, and Turkish partner and Joint Operator
Petraco 10%.
Commenting on the news Alex Parks, CEO of Otto Energy said:
“This is another excellent result - with a total of six new-field gas
discoveries now made from six wells drilled since Otto acquired the
Edirne licence in 2004. These small gas fields are relatively close
together and can be developed through a central development hub. We
look forward to commercializing these discoveries once the drilling and
testing program has been completed by end June 2008. .”
The attached release from the Joint Operator Incremental Petroleum
provides further details on the Ortakci-1 discovery well.
Yours faithfully
_________________
Alex Parks
Chief Executive Officer
For further information visit Otto’s website

www.ottoenergy.com or

contact:

Alex Parks Jill Thomas
Otto Energy Limited PPR Investor Relations
+61 (0) 8 9226 0001 +61 (0) 8 9388 0944
info@ottoenergy.com jthomas@pprwa.com.au
ABN: 38 115 711 601
20 Howard Street PERTH WA 6000 Po Box Z5490 PERTH WA 6831
Ph: +618 9481 8696 Fx: +618 9481 2394
1 May 2008
Australian Stock Exchange
By ASX online
•

6th gas discovery in Turkey

•

20 metres of potential net gas pay in third well at Edirne

•

Largest mapped structure on block

Incremental Petroleum (ASX: IPM) and Otto Energy (ASX: OEL) are

pleased to announce that Ortakci -1, the third well in this year’s five well
drilling campaign at Edirne, has encountered some 20m of potential gas
bearing net reservoir sands. The sands are located between 238m and
332m. Reservoir properties are excellent, with an average porosity of 29%.
The presence of gas is confirmed with wireline pressure measurements
and nuclear magnetic logging. Testing of the gas productivity will be
undertaken at the end of the drilling campaign in a few weeks.
Ortakci 1 was drilled to a total depth of 524m, and the present operation
is running casing. The rig will then move to Arpaci 2.
ORTAKCI
IKIHOYUK
ARPACI 2
KUZEY
ARPACI
0 5 km
3D AREA
LICENCE
BOUNDARY
LOCATION MAP
BATI YAGCI
Figure 1. Location of five wells in 2008 Edirne drilling campaign
The Ortakci structure is the largest of the 17 structures mapped on the
2007 3D seismic and is a broad feature coincident with strong seismic
amplitudes covering an area of about 3.0 sq. km. The excellent reservoir
thickness and high porosity greatly enhance the prospectivity of the
more western parts of the Edirne concession.
ABN: 38 115 711 601
20 Howard Street PERTH WA 6000 Po Box Z5490 PERTH WA 6831
Ph: +618 9481 8696 Fx: +618 9481 2394
The 2008 drilling campaign involves the drilling of five wells (Figure 1)
targeting a combined 10-20 BCF. The programme is designed to prove
up significant sales volume of gas to enable a combination of these
shallow structures to be placed on production by mid 2009.
The partners in the Edirne Gas project are Incremental Petroleum (55%),
Otto Energy (35%) and Petraco Energi (10%), who are also joint operator
with Incremental.
Gerard McGann
Managing Director

Tricha

Based on the 3 previous discoveries OEL has mentioned revenue of $US3m-5m.

I'd say with 6 discoveries we can safely double that range to $US6-10m per year.

With more drills still to come we could see > $US10m p.a revenues from Turkey.

Still only equates to about 1 months oil from Galoc!

[tricha]

Tricha

Based on the 3 previous discoveries OEL has mentioned revenue of $US3m-5m.

I'd say with 6 discoveries we can safely double that range to $US6-10m per year.

With more drills still to come we could see > $US10m p.a revenues from Turkey.

Still only equates to about 1 months oil from Galoc!

This is getting hot Shasta, because Otto is going to have four strings to her bow.
I've working on it and will update #3 soon.


Hot of Hotcopper, another #4 string to their bow.

Good news.

-----------------------------------------------------

Oromin Explorations Ltd.: Official Decree Authorizes Santa Rosa Oil Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 2, 2008) - Oromin Explorations Ltd. (TSX VENTURE:OLE)(OTCBB:OLEPF) is pleased to report that the exploration rights for its Santa Rosa oil and gas project in the Province of Mendoza, Argentina have now been formally authorized. The Government of Mendoza has issued Decree # 1018/2008. This decree grants Oromin's Argentina subsidiary the Permit to Explore and eventually a Concession to Exploit hydrocarbons in the CC y B-9 (Cuenca Cuyana & Bolsones 9) Santa Rosa Block.

Receipt of this formal decree now clears the way for the Company commencing exploration for petroleum on the Santa Rosa Block. The Santa Rosa Block has an area of 7,694 square kilometres with approximately 300 square kilometres being the area of greatest exploration interest. It covers a large, untested, shallow dome structure (less than 1,200 metres target depth) that is defined by four surrounding seismic lines on a regional grid. The Santa Rosa Block is located within the Cuyana Basin which has produced over 940 million barrels of oil and has an established infrastructure of pipelines, a refinery and an experienced oil industry work force. Preparation of a 51-101 report on the Santa Rosa Block by an independent consultant is now underway.

Otto Energy Limited has a Letter of Intent with the Company which enables it to earn up to a 41.24% working interest by the expenditure of up to US$2,297,381.

Norman Haimila, Ph.D, director and VP Explorations-Petroleum, is the Company's "qualified evaluator" for the purposes of National Instrument 51-101 and has verified the data disclosed in this news release. Dr. Haimila is a member of A.I.P.G. and A.A.P.G.

-------------------------------------------

Bg.


1 Person, 1 vote - promotes the welfare-state and socialism .. time for a change!

just my opinion as a mug oil speccy.
Get professional advice.

[tricha]

We will have to wait for Galoc oil before Otto focus attention next to PVE.

ASX/MEDIA RELEASE
18 March 2008

ITALIAN ENERGY LEADER AND PO VALLEY IN
JOINT AGREEMENT ON TWO ENERGY PROJECTS

A major oil and condensate exploration target and a gas development field in northern Italy will
be developed under an agreement announced today between Italian energy leader, Edison and
Australia’s ASX-listed emerging gas producer, Po Valley Limited (ASX code “PVE”).
Under the agreement, Edison and Po Valley will now jointly develop on a 50:50 basis, the
prospective Ossola exploration licence north of Milan and to the west of Bergamo, which is
expected to contain a very large-scale oil and condensate target with additional potential for a
gas target.
This joint venture arrangement is subject to the granting of the final licence by the Ministry of
Economic Development. Po Valley will retain operatorship until the spud of the first exploration
well, after which time operatorship will pass to Edison.
Edison – the second largest gas and electricity company in Italy – is presently operator in a joint
venture with Po Valley for the San Vincenzo licence area and Sant’Alberto gas field, north of
Bologna.
Under the agreement announced today, Edison will move from its previous 50% joint venture
interest to a royalty entitlement of 3.75% on hydrocarbons production from the Sant’ Alberto
field and San Vincenzo licence. Po Valley in turn will move from its 50% interest to full
ownership (100%) of the San Vincenzo licence and the Sant’ Alberto field as well as
operatorship of this area.
Rights to the Ossola licence had been in dispute between Po Valley and Edison with Edison
originally challenging a decision in October 2006 by the Italian Ministry to preliminary award the
licence to Po Valley. During this time Po Valley has obtained the Environmental Clearance from
the Regione Lombardia Authority and has already proceeded with a regional, large scale
geological study. Po Valley has purchased more than 50 km of 2D seismic dataset.
“The agreements announced today close out the dispute and pave the way for an accelerated
and decisive exploration campaign targeting the large-scale oil and condensate and gas targets
in Ossola,” Po Valley’s Chief Executive Officer, Mr Michael Masterman, said today.
“The agreements generate considerable upside for both Edison and Po Valley while significantly
adding to Po Valley’s expanding footprint of gas and oil exploration, development and
production plays in northern Italy.”
Po Valley is currently constructing surface plant in gearing up for first gas production from its
Castello and Sillaro gas fields near Milan and Bologna respectively in northern Italy.

MEDIA CONTACTS:
Michael Masterman Po Valley Energy 0417 851 303
Kevin Skinner Field Public Relations (08) 8234 9555 / 0414 822 631

7 December 2007
Manager of Company Announcements
Australian Securities Exchange
Level 6, 20 Bridge Street
SYDNEY NSW 2000
By E-Lodgement

Otto Energy farms into large onshore exploration
acreage in the Po Valley, Italy.

Otto Energy ASX: OEL is pleased to announce that it will acquire 50% of the
Bastiglia- Cento Exploration Permits, in the Po Valley of onshore Italy, from Ascent
Resources plc.

Highlights

•

The two adjacent Bastiglia - Cento Exploration Permits are considered highly
prospective with multiple hydrocarbon prospects and leads already identified

•

The first well, Gazzata-1, will be drilled around September 2008, targeting
prospective gas resources of over 100bscf equivalent to potentially over
A$200 million in value to Otto.

•

Minimum commitment for Otto to earn 50% in the two permits is approximately
A$10 million and in the event of a significant commercial gas discovery in the
first well, Otto will also fund 100% of drilling and testing of a second well.

•

Otto intends to purchase the seismic out of current funds and fund the drilling out
of anticipated revenues from the Galoc Oil Field, which is scheduled to
commence production in April 2008.

•

Otto’s joint venture partner and operator of the Italian permits is Ascent
Resources Plc, an AIM-listed company with an established office in-country and
considerable drilling expertise in the area.
Commenting on the announcement Alex Parks CEO of Otto Energy said:

“This new acquisition is a perfect fit for Otto as we continue to build our portfolio of
onshore and offshore oil and gas assets with a pipeline of projects that span across
exploration, development and production.
“The Bastiglia - Cento Exploration permits are considered to be highly prospective
and relatively low risk. The Gazzata prospect alone could be worth up to
A$200 million to Otto in the event of a commercial discovery, and there is significant
follow up potential in a variety of different play types, some of which could hold up to
1 TCF gas resource potential.

Terms of the Deal

The minimum commitment for Otto to earn 50% in the two permits is by purchasing
approximately A$3.65 million worth of existing seismic in the blocks from Italian major
ENI, and paying 100% cost of drilling initially one well at an estimated cost of
approximately A$6 million.
A three-way farm in agreement has been signed between Otto Energy Ltd, Ascent
Resources plc and Deltana Energy Ltd, who had originally agreed to acquire up to
50% interest in the Bastiglia-Cento Block.
To earn 50% in the Bastiglia - Cento Block, Otto will:

•

contribute €2.15 million (A$3.65 million) in January 2008 for the purchase of
seismic data,

•

reimburse Deltana for direct costs of A$400,000, and

•

pay 100% of the drilling and testing of the Gazzata-1 well estimated to be
A$6 million.

•

In the event of a significant commercial gas discovery in Gazzata-1, Otto will also
fund 100% of drilling and testing of a second well.

•

Deltana Energy Ltd have retained an option to acquire a 15% working interest
from Otto which is exercisable up to 31st March 2008, by sharing the terms of the
farmin on a pro-rata basis.

Details on the Permits

The Bastiglia - Cento Permits are located in the Po Valley in Northern Italy (Figure 1).
The Po Valley is a proven hydrocarbon basin with over 13Tcf of gas and 340 MMbbl
of oil discovered to date. The permits are currently 100% held and operated by
Ascent Resources Plc, an AIM listed company with a portfolio of assets in Italy and
other European countries. Ascent has a strong local presence in Italy with an
established office and drilling expertise and will be a competent operator for the Joint
Venture.
The Bastiglia-Cento Block is surrounded by a number of substantial oil and gas fields
that are currently on production (Figure 2). There is a good infrastructure of roads
and pipelines criss-crossing the permits. The gas price in Italy is very high
(~US$10/Mscf) hence gas discoveries of 5Bscf and above are commercial.
The play types in the permits are confirmed on seismic by sophisticated AVO
analysis and are mostly stratigraphic in nature. Typically the prospects are at depths
of between 1,600m and 3,500m and have prospective resource volumes of between
50bscf and 300bscf per prospect. The surrounding fields were drilled on structural
traps in the 1960’s to late 1980’s before good seismic became available and AVO
processing became an established exploration tool. Otto to date has a 100%
success rate in Turkey by drilling structures with AVO anomalies.
Ascent Resources plc is a European oil and gas exploration and production company
listed on AIM Since commencing operations in 2005, it has built a portfolio of some
twenty oil and gas projects across Europe in Hungary, Switzerland, Spain, Italy,
Slovenia and the Netherlands.
Yours faithfully

_________________
Alex Parks
CEO
For further information please contact:

Alex Parks (CEO) John Williams / Jill Thomas
Otto Energy Professional Public Relations
Ph: +61 8 9226 0001 Ph: +61 8 9388 0944

[ronthepom]

Shasta,

I think we are also overlooking Argentina which i believe is another feather in their cap. Have met Alec --a friend of my son inlaw, pretty switched on guy!! when i was in Perth last year, hope to catch up with him again in july.


p.s bought another 50000k today.

Hi Shasta,
Now the ball will start to roll--------ARGENTINA !!!

CHEERS RON

[bear]

Stocks
Stock of the week – Otto Energy
May 05, 2008
Tim Morris, wise-owl.com analyst</STRONG>

Company: Otto Energy Ltd

Code: OEL

Recommendation: Spec Buy

Market Cap: $158m

For investors beginning to feel the pinch at the bowser, it may be time to consider taking action against their exposure to rising fuel prices. Buying shares in oil companies that can actually benefit from record high oil prices is one obvious solution. However the sector is not for the faint hearted. Hydrocarbon exploration has always been a ‘hit and miss’ affair, especially at the junior end of the sector where the share prices of explorers are known for their extreme volatility surrounding drilling results.

Drilling targets to find that often illusive ‘company maker’, offers the greatest potential creator of value for any junior oil and gas explorer. However drilling is a very expensive past time, which makes these companies very cash hungry and in need of strong investor support.

In the case of Otto Energy, the good news is they have both a busy drilling schedule and plenty of investor support. Late last year, the company found investors were willing to inject a staggering total of $79m over two raisings into the company, which at the time was greater than the company’s market capitalisation. This was no small feat, and put the company in a strong position to pursue a good mix of low risk low impact and exciting high risk high impact targets.

These funds have also been used to buy a revenue share in the large 'Galoc' oil field in the Philippines which is due to commence production this month. The Galoc oil field is expected to contribute $30m in revenues during 2008 according to Otto Energy, and we estimate it will generate substantially more revenue than this in 2009.

This oil field has 2P reserves of 23MMbbls and is expected to start producing at a rate of approximately 15,000 barrels of oil per day. Otto Energy’s 18.28&#37; interest in this field will give it a share of approximately 4.2m barrels from reserves and 3,300 barrels of oil per day from production.

In addition to Galoc Otto also boasts a swag of other exploration projects in the Philippines. Otto has stakes in the offshore permits SC50 (85%), SC55 (85%), and the onshore & offshore SC51 (80%). At the moment Otto is seeking farm-in partners for these projects to share the offshore drilling costs and will be looking to drill 10 exploration wells from 2009-2012.

The Galoc Field in the Philippines. Source: OEL

Therefore while Galoc undergoes development, and the company’s other Philippine assets await drilling next year, Otto’s current exploration focus lies in Turkey, where it holds a 35% interest in ground covering the onshore ‘Thrace Basin’.

This Turkish Joint Venture has made 6 gas discoveries in total, and 2 wells are still to be drilled as part of the current drill programme. Three of the discoveries were made in a previous drilling campaign, and the 3 have been made as part of the latest campaign. The three new gas discoveries and the earlier three discoveries are relatively close together and can be developed through a central development hub. The joint venture is aiming to establish a reserve estimate from the latest discoveries and bring them into production by mid 2009.

Otto also has exploration interests in Italy and Argentina. The company has just farmed into its Italian project and no drill programmes are planned as of yet. Otto’s Argentinean project is regarded as a potentially ‘high impact’ field. The license to drill this project has yet to be formally awarded, however upon award Otto has indicated that it would be ready to drill 2 wells within 12 months.

The award of this license could trigger a re rating in the stock, however when this will occur remains uncertain. Other catalysts that we feel could drive the share price higher include the revenues from the Galoc oil field, ongoing exploration success in Turkey, an estimate of the Turkish joint venture’s gas reserves, and more detail on a production plan for this field.

In our view these strong share price drivers combined with an existing healthy cash balance of $6.7m warrant a ‘spec buy’ recommendation on the stock. Like any other junior oil play, the risks facing the stock which investors should consider surround the oil price and exploration and development success. Oil is currently trading near record highs, however a significant fall could also drag Otto’s share price down. Although development at the Galoc field has thus far been smooth, any set backs are likely to also have a very severe impact on the share price.

[shasta]

Hi Shasta,
Now the ball will start to roll--------ARGENTINA !!!

CHEERS RON

Nice analysis there Bear...

Ron

Santa Rosa is the very thing that should start the roll on...

Lets see what OEL has to offer during 2008...

1. 2 more drills in Turkey (6/6 strikes thus far)
2. Galoc first oil during May (>3000bopd to OEL). NB Brent price >$US120!
3. Gazatta-1 gas drill in Italy in Sept
4. Possibly drilling Santa Rosa in Q4 2008

OEL should be well north of $1 come Xmas, & if they strike oil in Santa Rosa, its name your price