30 October 2013
Manager of Company Announcements
ASX Limited
Level 6, 20 Bridge Street
SYDNEY NSW 2000
By E-Lodgement
SC55 JOINT VENTURE RECEIVES FORMAL NOTICE OF SEP CLEARANCE FOR CINCO-1 WELL
Highlights:
• SC55 joint venture receives formal SEP Clearance from the Palawan Council for Sustainable Development (PCSD).
Otto Energy Limited ("Otto") (ASX: OEL) has been notified by BHP Billiton Petroleum (Philippines) Corporation (BHPB) (ASX: BHP), the Operator of Service Contract 55 (SC55) offshore the Philippines, that it has received formal Strategic Environmental Plan Clearance ("SEP Clearance") from the Palawan Council for Sustainable Development ("PCSD") in order to drill the Cinco-1 prospect in SC55.
Documentation approving the SEP Clearance has been executed by the PCSD and BHPB.
BHPB has engaged with the Philippine Department of Energy regarding the revised timing of the work programme commitments and it is expected that this will be the subject of a separate announcement shortly.
--Ends--
OTTO AT A GLANCE
• ASX-listed oil and gas company with a strategy to grow its integrated oil and gas business across exploration, development and production
• Focused on South East Asia and East
Africa
• Operator of the producing Galoc oil field in the Philippines, which provides cashflow
• Opportunity rich with substantial exploration prospects and leads COMPANY OFFICERS
Rick Crabb Chairman
Ian Macliver Director Rufino Bomasang Director John Jetter Director Ian Boserio Director Gregor McNab CEO
Matthew Allen CFO/Coy Secretary
Contact: Matthew Allen
Chief Financial Officer
+61 8 6467 8800 [email protected]
Media:
Dudley White
MAGNUS Investor Relations + Corporate Communication
+61 2 8999 1010 [email protected]
Head Office 32 Delhi Street, West Perth WA 6005 Australia PO Box 1414, West Perth, WA 6872 Australia T: +61 8 6467 8800 F: +61 8 6467 8801
Manila Office 32nd Floor Philamlife Tower, 8767 Paseo de Roxas, Makati City 1226, Philippines T: +63 2 773 2700 F: +63 2 773 2801 [email protected] ASX Code: OEL ABN: 56 107 555 046