Otto Energy (ASX:OEL)
Otto Energy Limited (ASX:OEL) is an oil and gas exploration and production company with a regional focus on North America. Otto currently have oil production from its SM 71 oil field in the shallow water Gulf of Mexico (Louisiana) and gas/condensate production from its Lightning discovery onshore Matagorda County, Texas. Development is underway at the Green Canyon 21 oil discovery in the Gulf of Mexico. Cashflow from its producing assets at these fields will underpins its growth strategy in the area for years to come. Otto Energy also holds attractive exploration and appraisal assets in the the prolific petroleum provinces of the onshore and offshore Gulf of Mexico and Alaska, with an active appraisal and exploration program underway in the Gulf of Mexico region.