Otto Energy (ASX: OEL) is poised to make an announcement concerning finalisation of the issuance of the Strategic Environmental Plan Clearance for Service Contract 55.
Otto has been granted a trading halt by the ASX, with its shares placed in pre-open.
Service Contract 55 is located offshore Palawan, Philippines, and covers 9880 square kilometres.
Otto’s Interest is 33.18%, BHP Billiton (ASX: BHP) the operator.
The halt will last until the opening of trade on Wednesday 30th October 2013, or earlier if an announcement is made to the market.
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