Otto, BHP complete Palawan farm in

Otto Energy Ltd has executed the final farm-in agreements on BHP Billiton’s entrance into Service Contract 55 offshore Palawan, Philippines.

Offshore staff

SYDNEY, Australia – Otto Energy Ltd has executed the final farm-in agreements on BHP Billiton’s entrance into Service Contract 55 offshore Palawan, Philippines.

According to the original agreement, Otto will receive a final payment of $7.3 million and will submit the required documents to the Philippine Department of Energy for approval.

12/29/2011

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