Otto completes adding Galoc interest

Otto Energy Ltd. Says it has completed a transaction with Vitol whereby Otto increases its stake in the Galoc oil field to a 33% direct working interest.

Offshore staff

WEST PERTH, Australia – Otto Energy Ltd. Says it has completed a transaction with Vitol whereby Otto increases its stake in the Galoc oil field to a 33% direct working interest.

Otto did this by acquiring 100% equity in the operator, Galoc Production Co. WLL.

Otto says it now turns to moving Phase II of the development forward.

09/30/2011

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