Otto Energy (ASX:OEL) is preparing to reveal details concerning a major transaction.
Otto is currently focused on conventional hydrocarbon exploration and production within South East Asia and East Africa.
The company is also the operator of the producing Galoc oil field in the Philippines, which importantly provides cashflow.
Otto is well-funded with US$7.7 million in cash at the end of June 2014 and no debt.
The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.
The halt will remain in place until the opening of trade on Monday 22nd September 2014, or earlier if an announcement is made to the market.
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