DRILLING

Otto, Byron spud second GOM well

OTTO Energy has had its speculative buy recommendation upheld despite the failure of its first well in the Gulf of Mexico, with broker Hartleys saying that the failure of the SM-6-1 well is "not the end of the story", even as the second well has started drilling ahead.

Hartleys analyst Simon Andrew wrote that the next well, SM-71-1, some 50km to the east of the failed SM6-2 well "represents an immediate catalyst for investors" with a result to be known within two weeks....

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