Otto Drills Ahead at Duhat Well

Otto provided the following update on the progress of the Duhat-1 well that was spudded on April 19, 2011. The well has been drilled to 205m TVD (True Vertical Depth) and 13 3/8" casing has been set and cemented. Current operations are pressure testing the Blow Out Preventer and installing flare lines prior to drilling ahead in 12 ¼" hole.

Performance of both the rig and mud system has been satisfactory with the well being on track to reach TD (Total Depth) as programmed.