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Otto Energy: SM 71 update - drilling ahead

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Oilfield Technology,

Otto Energy Limited has announced that the OCS G-34266 #F-2 well ‘SM 71 F2’) within the South Marsh Island 71 (‘SM 71’) lease in the Gulf Of Mexico shelf reached a depth of 3685 ft MD on 10 December 2017 where 10 3/4 in. casing wasset and cemented in place.

As at 2.00 PM USA Central Time on 17 December 2017 the SM 71 F2 well was drilling ahead at 4895 ft MD in 9 7/8 in. hole. Itis anticipated that the well will be drilled to total depth and evaluated by the end of December.

SM 71 F2 has a planned MD of 8965 ft/2733 m (7555 ft/2303 m TVD) as previously reported to the ASX on 4 December 2017.

Otto holds a 50% working interest (40.625% net revenue interest) in South Marsh Island Block 71 through a wholly owned subsidiary Otto Energy (Louisiana) Inc. The operator, Byron Energy Limited, holds the remaining 50% working interest.

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