Otto Energy Limited has completed the establishment of its Houston office and appointment of a US-based technical team. With the Company’s Gulf of Mexico business now successfully producing for more than three months from the SM 71 field, Otto is focused on accelerating its identification of additional attractive opportunities to grow its production.

Managing Director Matthew Allen will be relocating to Houston in late July to lead the team. In addition, Otto is pleased to announce the following technical appointments in Houston:

• Will Armstrong – Vice President, Exploration and New Ventures
• Philip Trajanovich – Senior Commercial Manager
• Mark Sunwall – Senior Exploration Consultant
• Kevin Small – Senior Exploration Consultant

The exploration team will be led by Will Armstrong, who has more than 30 years of experience across the Gulf of Mexico. Will’s exploration work has seen the drilling of 162 prospects across his career at a commercial success rate in excess of 66%. Full background information on the team can be found in the appendices to this release.

The exploration team have been engaged as consultants inside the Otto business for the last 6 months. This has involved the screening of a number of prospects and investment opportunities. As a result of this consulting work, and past experience, the exploration team are very familiar with the Company’s current portfolio, screening criteria and focus area for potential prospects.

In addition, Otto has opened its office location in Two Allen Center in Houston Downtown. The technical team have been establishing this office and it is now fully functional for Otto’s future plans.

Otto’s Managing Director, Matthew Allen, commented: 
“I look forward to the move to Houston, and growing the Otto business off the back of the strong production and cash flow base we have built at SM 71. We have welcomed a team that brings a cumulative 110+ years of Gulf Coast and Gulf of Mexico experience and this IP and knowledge will be integral in identifying partners and prospects that will help grow Otto’s business moving forward.

“We have a very exciting period ahead of us, with wells schedule to spud at Bivouac Peak in August and Alaska in early 2019. With our exploration team well embedded in the business after 6 months working with Otto, we hope to be adding and drilling additional prospects into our exploration portfolio in the near term.”