Company Overview and News
WEST PERTH -- Otto Energy Limited has announced that Houston Energy has been awarded the South Timbalier 235 (ST 235) lease under Gulf of Mexico Central Lease Sale 249.
Otto Energy Ltd's (ASX:OEL) shares closed at $0.043 on Friday, which is close to double their valuation from two months' ago.
Otto Energy Ltd (ASX:OEL) is in a joint venture with Byron Energy Ltd (ASX:BYE) for the SM 71 oil development, located in the Gulf of Mexico.
Please see below extracts from the Company's Half Year Report for the period ended 31 December 2016, being the:
The Board of Red Emperor Resources NL ("Red Emperor" or the "Company") provides the following commentary and Appendix 5B for the period ending 31 December 2016.
The Board of Red Emperor Resources NL provides the following commentary for the period ending 30 September 2016. Philippines (SC 55) During the quarter, all relevant documentation for the transfer of Otto Energy Limited's (ASX: OEL 'Otto') equity interest in Block SC 55 was prepared by Otto, approved by the Joint Venture and has now been submitted to the Philippines Department of Energy (DoE) for final approval.
The Board of Red Emperor Resources NL ("Red Emperor" or the "Company") provides the following commentary and Appendix 5B for the period ending 30 September 2016.
Please see below extracts from the Company's annual report for the year ending 30 June 2016 (the "Annual Report"), being:
Investing in net-nets can be very profitable as long as you always check the numbers with the latest information.
Glenwick is pleased to announce the following changes to its board of directors (the "Board"), which are effective immediately.
The Board of Red Emperor Resources NL provides the following commentary for the period ending 30 June 2016. Philippines (SC 55) The Company announced during the quarter that the Joint Venture (JV) had formally received approval from the Philippines Department of Energy for a two-year moratorium, until 23 December 2017, on required work activity under Service Contract 55. During the moratorium period, the consortium will conduct specialised geophysical studies in the area surrounding the Hawkeye Prospect, which encountered gas shows when it was drilled last year.
The Board of Red Emperor Resources NL ("Red Emperor" or the "Company") provides the following commentary and Appendix 5B for the period ending 30 June 2016.
Otto Energy has advised that it has received the independent resources report on the Bivouac Peak opportunity onshore Louisiana from Operator, Byron Energy Limited. The independent resource estimate for Bivouac Peak was prepared by Collarini Associates (Collarini), based in Houston.
Otto Energy Ltd has been advised by the Australian Securities Exchange that the announcement of the maiden reserves booking for SM-71 made on 7 July 2016 has not complied with all of the requirements of Listing Rule 5.31. This is an updated release containing the original material and supplemental material in order to comply with Listing Rule 5.31.
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