14 November 2013

Manager of Company Announcements

ASX Limited

Level 6, 20 Bridge Street

SYDNEY NSW 2000

By E-Lodgement

OTTO ENERGY LIMITED - ANNUAL GENERAL MEETING PRESENTATION

Please find attached the Chairman's speech and Chief Executive Officer's presentation in respect of today's Annual General Meeting.

Yours faithfully

Gregor McNab

Chief Executive Officer

OTTO AT A GLANCE

• ASX-listed oil and gas company with a strategy to grow its integrated oil and gas business across exploration, development and production

• Focused on South East Asia and East

Africa

• Operator of the producing Galoc oil field in the Philippines, which provides cashflow

• Opportunity rich with substantial exploration prospects and leads COMPANY OFFICERS

Rick Crabb Chairman

Ian Macliver Director Rufino Bomasang Director John Jetter Director Ian Boserio Director Gregor McNab CEO

Matthew Allen CFO/Coy Secretary

Contact: Matthew Allen

Chief Financial Officer

+61 8 6467 8800 [email protected]

Media:

Dudley White

MAGNUS Investor Relations + Corporate Communication

+61 2 8999 1010 [email protected]

Head Office 32 Delhi Street, West Perth WA 6005 Australia PO Box 1414, West Perth, WA 6872 Australia T: +61 8 6467 8800 F: +61 8 6467 8801

Manila Office 32nd Floor Philamlife Tower, 8767 Paseo de Roxas, Makati City 1226, Philippines T: +63 2 773 2700 F: +63 2 773 2801 [email protected] ASX Code: OEL ABN: 56 107 555 046

Otto Energy Limited

2013 Annual General Meeting

Chairman's Address

The past financial year and indeed the period since 1 July this year has been an eventful one for Otto Energy to say the least. Our immediate thoughts are with the people of the Philippines who have recently been devastated by the passing of Typhoon Haiyan and we are working with our community partners to ensure Otto Energy provides much needed support.
The significant achievement has been that under Otto Energy's operatorship, led by our CEO Gregor McNab, the drilling of 2 new development wells for Galoc Phase II was successfully completed. I am confident that the remaining activities of the Phase II development, the installation works to connect the Galoc 5-H and 6-H wells to the FPSO Rubicon Intrepid, will be completed in the near future and we will see first oil from these new wells.
The other drilling activity undertaken by Otto Energy, the Duhat-2 onshore Leyte in the Philippines, had to be abandoned early when high pressure water was encountered. However, it is recognised by the directors and management and I'm sure understood by shareholders that drilling operations are risky but if you don't take those risks after due analysis, you will never find success. It was pleasing to note that extensive preparation enabled the rig crew to deal with the difficult situation that arose.
More recently the decision by BHP Billiton to not participate in the drilling of Cinco-1 in the SC55 licence area in the Philippines was very much a surprise to us at Otto Energy and the board and management are currently assessing all options open to the Company to constructively deal with this new challenge.
Recent results from 2D seismic at Otto Energy's 50% held Tanzanian permits point to an exciting period ahead as further work is undertaken.
Of course, throughout this period, the Galoc Phase 1 wells have continued to perform to expectation and the FPSO Rubicon Intrepid and its crew, also supported by Otto Energy personnel in Manila and Perth have done an exceptional job in achieving excellent production.
The increased cash flow from the expanded Galoc field will put Otto Energy in good stead to seek to grow shareholder wealth with additional appropriate exploration.

13 11 13 Chairmans Address - Otto Energy - Rick Crabb - AGM (2)

My thanks again to Otto Energy staff in Perth and overseas for their diligence during a busy period. Thanks also to ali shareholders for your continued support.

131113 Chairmans Address- Otto Energy- Rick Crabb- AGM (2)

Annual General Meeting

14 November 2013

Gregor McNab

Chief Executive Officer November 2010

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ENERGY

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Disclaimer

This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is not to be distributed to third parties without the consent of Otto Energy Ltd (the "Company").

This presentation contains forward-looking statements that are not based on historical fact, including those identified by the use of forward-looking terminology such as statements containing the words "believes", "may", "will", "estimates", "continue", "anticipates", "intends", "expects", "should", or the negatives thereof and words of similar import.

Management of the Company cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by the statements.

Management believes that the estimates are reasonable, but should not unduly be relied upon.

The Company makes no representation, warranty (express or implied), or assurance as to the completeness or accuracy of these projections and, accordingly, expresses no opinion or any other form of assurance regarding them. Management does not intend to publish updates or revisions of any forward-looking statements included in this document to reflect the Company's circumstances after the date hereof or to reflect subsequent market analysis.

The hydrocarbon reserve and resource estimates are based on information compiled by Mr Nick Pink.

Mr Pink has more than 13 years of relevant experience and is qualified in accordance with ASX Listing Rule 5.11. Mr

Pink is a full time employee of Otto Energy as its Senior Reservoir Engineer and has consented to the inclusion in the

presentation of the information in the form and context in which is appears.

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Delivery through 2013

• Production

• Safe & reliable operations - delivered 0.59 MMbbl & $60.18MM (net).

• Exceptional FPSO uptime - integrity maintained through Haiyan.

• Development

• Galoc G5 and G6 wells successfully completed and tested.

• All equipment delivered and offshore construction progressing.

• Capital costs within 10% of original sanction budget.

• Holding to target first oil date by end November.

• Exploration

• Tanzania - Airborne surveys complete & seismic acquisition progressing. Initial results

very promising.

• Philippines:

• SC73 - Acquired acreage.

• SC55 - FM frustrations & subsequent BHPB decision not to drill.

• SC51 - Duhat-2 disappointment - risk mitigation effectively executed.

• Financial

• FY2013 profit US$9.44MM and net cash balance US$31.85MM

• Balance sheet management - no shareholder dilution despite major capital

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investment.

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Look Ahead to 2014

• Production

• Commence production from Galoc Phase II - initial rate @ 12,000BOPD.

• Maintain safe & reliable production.

• Exploration

• Tanzania:

• Finalise Kilosa Kilombero and Pangani seismic survey/interpretation.

• Mature prospects for drilling.

• Onshore East Africa

• Increase organisation focus on new opportunity capture.

• Philippines:

• SC55 - Enforce legal rights with BHPB. Assess options to realise value.

• SC14C - Update subsurface models post Galoc development drilling. Assess way

forward on exploration drilling.

• SC51 - Complete post Duhat-2 technical review & define way forward.

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Thank you for attending the

Otto Energy Limited

Annual General Meeting of Shareholders

Otto Energy Ltd

32 Delhi Street

West Perth

Western Australia 6005

Telephone: +61 8 6467 8800

Facsimile: +61 8 6467 8801

[email protected]

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