6 January 2015
Manager of Company Announcements
ASX Limited
Level 6, 20 Bridge Street
SYDNEY NSW 2000
By E-Lodgement
SUCCESSFUL COMPLETION OF 2014 SEISMIC PROGRAMME OVER KILOMBERO BASIN
Otto Energy Ltd (ASX: OEL) ("Otto") is pleased to announce that the joint venture has successfully completed a 430 km 2D seismic programme over the Kilombero Basin in central Tanzania. Otto Energy Tanzania Pty Ltd (a wholly owned subsidiary of Otto) has a 50% participating interest in the Kilosa- Kilombero licence.
The seismic survey was carried out by Otto's joint venture partner and Operator Swala Oil and Gas (Tanzania) Plc, a wholly owned subsidiary of Swala Energy Limited ("Swala", ASX:SWE).
The joint venture has already identified the Kito Prospect as a potential drilling target for 2015. The new seismic data are currently being processed ahead of detailed interpretation that aims to map additional potential drilling targets for the forthcoming drilling campaign. The joint venture will carry out basin modelling and seismic amplitude studies to help rank the prospect portfolio ahead of these planned drilling activities.
Matthew Allen, Otto's CEO said: "The work programme of the joint venture in the Kilosa-Kilombero licence has been executed in line with the work programme commitments to TPDC, in an area that had not previously seen any oil or gas exploration activity. We look forward to the results of the detailed mapping,
OTTO AT A GLANCE
• ASX-listed oil and gas company with a strategy to grow an integrated petroleum business through high impact exploration
• Focused on South East Asia and East
Africa
• Operator of the producing Galoc oil field in the Philippines, which provides cashflow
COMPANY OFFICERS Rick Crabb Chairman Ian Macliver Director Rufino Bomasang Director
John Jetter Director Ian Boserio Director Matthew Allen CEO Craig Hasson CFO
Scott Blenkinsop Chief Legal Counsel
Company Secretary
basin modelling and seismic amplitude studies to support the final drill candidate selection. Yours faithfully
Matthew Allen
Chief Executive Officer
Contact: Craig Hasson
Chief Financial Officer
+61 8 6467 8800 [email protected]
Media:
Matthew Gerber
MAGNUS Corporate and Financial Communication
+61 2 8999 1002 [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