Focus on Gulf of Mexico
South Marsh Island 71 (SM 71)
Generating US$3m in free operating cashflow each month.
LOUISIANA
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Production commenced in March 2018, currently producing -3,600
bopd oil of high-margin LLS oil and 6.0 mmcfpd gas
At WTI of US$76/bbl Otto will realise -US$78/bbl net (after
transport and before Federal royalties)
Oil and gas production to 19 September 2018 of 641,737 bbls of oil
and 556 MMcf of gas (100% gross)
50:50 JV with operator Byron Energy (BYE:ASX)
Operated tripod platform with capacity for up to 6 production wells
and 5,000 bopd (currently three wells are installed)
Further hydrocarbon-bearing sands have been intersected during
drilling and should provide follow up production opportunities
Operator is undertaking a large 3D seismic reprocessing program,
including over SM 71, which will be utilised in future exploration
and development planning
Otto has secured rights to participate in the Vermillion 232 (VR 232)
lease which is adjacent to SM 71 and provides future incremental
opportunities de-risked by the SM 71 drilling successes
Cameron
East Camerow
KILOMETRES
MLES
OTTO ENERGY | ASX: OEL
Vermilion
VR-232
South Marsh and
Eugene Island
Bivouac Peak
Ship Shpal
SM71
Baton Rouge
50m
SM 71 F Production Platform (Gulf of Mexico)
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