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Galoc Field Resumes Production

Source: www.gulfoilandgas.com 8/13/2009, Location: Asia

Otto Energy Limited has received confirmation from field operator, the Galoc Production Company WLL (GPC), that production at the Galoc Oil Field recommenced at 08.30hrs (local time) today.

After initial flush production it is anticipated that daily throughput will stabilise at pre-shut down levels of 11,000 barrels of oil per day.

Otto owns 31.38% of GPC, which holds 59.84% working interest in the licence, giving Otto 18.77% indirect interest in the project. The Galoc Oil Field is located in Service Contract 14C1 off the west coast of Palawan in the Philippines.

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