logo-loader
viewOtto Energy Ltd

Otto Energy in halt, to divulge major transaction

au_asx358_541b553a64e7b.jpg

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.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Otto Energy Ltd

Price: 0.008 AUD

ASX:OEL
Market: ASX
Market Cap: $38.36 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Integumen PLC to test anti-viral skin and dental products through tie-up...

Integumen PLC's (LON:SKIN) Gerry Brandon caught up with Proactive London's Andrew Scott after announcing its subsidiary Labskin has partnered with the University of Aberdeen to test anti-viral skin and dental products that might mitigate the transmission risk of the coronavirus...

1 hour, 2 minutes ago

2 min read