ASIA

Otto, BHP deal lapses

OTTO Energy's heads of agreement with BHP Billiton Petroleum for the farm-out of a 60% stake in SC55 offshore the Palawan Basin, Philippines, has lapsed forcing Otto to restructure its capital raising plans.

Otto, BHP deal lapses

The agreement lapsed after the two companies failed to finalise all necessary conditions and approvals before March 31. However, Otto said discussions with BHP in respect to SC55 were continuing and...

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