Offshore staff
SYDNEY, Australia –Otto Energy Ltd. (ASX: OEL) subsidiary Otto Energy Philippines Inc. has signed a farm-in agreement whereby Red Emperor Resources NL will earn a 15% working interest in SC55 offshore the Philippines.
Otto also has executed a letter of intent with Maersk Drilling to secure theMaersk Venturer ultra-deepwater drillship to drill the Hawkeye-1 exploration well.
Red Emperor has agreed to farm in toSC55 and earn a 15% working interest by participating in the drilling of the Hawkeye-1 exploration well.
03/04/2015
