Perth, Oct 15, 2008 AEST (ABN Newswire) - Invitation for prospective investors to listen to a presentation by Otto Energy Limited's (ASX:OEL)(PINK:OTTEF) CEO in Hong Kong on the 16th October 2008 at Four Seasons Hotel, as part of the ASX-small to mid cap conference.
According to some Australian analysts and media, due to the global credit crisis many of the oil and gas companies listed on the Australian Securities Exchange (ASX) are currently trading at a huge discount to their conservatively assessed corporate valuations.
As a result this offers Chinese investors an extraordinary opportunity to invest in solid Australian companies that are primed for growth.
Otto Energy Limited (ASX code: OEL) is an example of one of these companies.
Listed on the ASX in 2004, Otto is today a dynamic oil & gas exploration and development company that is making its own luck by building on opportunities and building a balanced portfolio. The company is opportunity rich with a total of 8 discoveries, more than 20 prospects, and over 60 leads in the asset portfolio.
In particular, Otto has established itself as a key player in Southeast Asia, specifically the Philippines, via a large landholding in the region which collectively total over 20,000 km2 of highly prospective onshore and offshore exploration acreage.
Otto also recently acquired an interest in the Galoc Oil Field, where production commenced in October 2008 and is expected to build to a stable rate of around 17,500 bopd, of which Otto's equivalent share would be 3,200 bopd. The gross reserves in the field range between 10-40 MMbbl.
The estimated value to Otto initially would be ~US$12 million per month; reducing to ~US$5 million per month once development costs are recovered. Overall, this will give Otto substantial revenue which will enable the company to self-fund future exploration and new ventures.
The Company also has non-operated assets in Italy, Turkey and Argentina, which provide a balanced portfolio of short, middle and long term oil and gas projects with significant potential.
A series of upcoming events including farm-outs and active exploration drilling programs in the Philippines, Italy, Argentina commencing in 2009 also offer potential significant return to shareholders who invest now.
Mr Alex Parks, Chief Executive Officer of Otto Energy will be speaking at the ASX small to mid cap conference in Hong Kong on Thursday 16 October 2008 and is also available to meet with interested institutional investors by appointment.
Contact
Mrs Jill Thomas
Investor Relations Manager
Tel: +61 8 6467 8800
Email: thomas@ottoenergy.com
Web: www.ottoenergy.com
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