Seismic Prog. Completed at Otto's Well Offshore Philippines

Otto announced that the 3D seismic acquisition program commenced earlier in June at SC69, offshore Visayas, Philippines, has successfully been completed. The marine operations for the acquisition along with the onshore support teams have all run very smoothly resulting in successfully acquiring of over 210 km2 of high quality 3D seismic data.

Otto will now move to process the newly acquired seismic data. This will take approximately six months, prior to interpretation.

Otto's Managing Director Paul Moore said "We would like to thank all of our staff, contractors, Government representatives and involved parties in supporting the execution of this project. The program has been run efficiently resulting in a high quality product. We look forward to maturing the Lampos and Lampos South prospects following the interpretation of these new seismic data over the coming months."