Otto gets Philippines extension

摘要

Otto Energy reports that the Philippines Department of Energy has granted an extension of Sub Phase 4 of Service Contract 55 (SC 55) for 12 months. “Otto continues its farm-out process to secure quality joint venturers to participate in the drilling of the Hawkeye-1 expl-oration well and looks forward to being able to provide an update on these discussions in the near term,” Otto said. Sub Phase 4 will now expire on 23 December 2015.