Otto Energy Continues Drilling on Galoc Field (Philippines)

Otto Energy Limited, as operator of the producing Galoc oilfield joint venture offshore the Philippines, has provided an update on the Galoc-5H and Galoc-6H drilling campaign in SC14C, part of the Galoc Phase II development approved in 2012.

During the period from 0600 hours (AWST) on 10 July 2013 to 0600 hours (AWST) on 17 July 2013, drilled the G-6H 12¼” hole section to 2,554 metres. The well has been steered to near horizontal, ready for commencement of drilling the long (approximately 2,000 metres) horizontal productive section through the reservoir. 9⅝” casing operations have commenced.

Logs obtained whilst drilling have confirmed that the well has penetrated the oil bearing Galoc reservoir sandstones in line with the pre-drill prognosis.

The forward plan is to complete setting and cementing the 9⅝” casing on G-6H prior to moving to the G-5H well to drill the 12¼” hole through to reservoir at approx 2,500m MD, then run and cement 9⅝” casing.