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Otto Energy provides an update on the Galoc oil field reserves in the Philippines


Published Mar 11, 2014
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Otto Energy Ltd provides an update on the Galoc oil field reserves in the Philippines as at 1 January 2014.

The operator of the Galoc oil field, Galoc Production Company WLL, a wholly owned subsidiary of Otto, has commissioned an annual review of remaining oil reserves from RISC, an independent consulting firm.

The annual review has resulted in an adjustment of 2P Reserves of less than 1% caused by a mixture of technical and economic factors (including oil prices). A detailed breakdown of Reserves is shown in Appendix A.

Tags: Otto Energy Limited



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