Otto Energy Continues G-5H Well Drilling (Philippines)

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

During the period from 0600 hours (AWST) on 4 September 2013 to 0600 hours (AWST) on 11 September 2013, the Company drilled the G-5H well 8½” hole horizontally from 3,256 metres to 4,496 metres. Results obtained from drilling logs indicate that the well is delivering in line with the pre-drill prognosis.

The forward plan is to continue drilling the G-5H well 8½” hole horizontally through the reservoir interval and run the completion liner and assembly.

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Press Release, September 11, 2013