Otto seeks cash to shore up balance sheet

GULF of Mexico focused explorer and producer Otto Energy is seeking to raise A$17.5 million through a placement and entitlement offer to shore up its balance sheet and pay for a well it drilled earlier this month.

Otto seeks cash to shore up balance sheet Otto seeks cash to shore up balance sheet Otto seeks cash to shore up balance sheet Otto seeks cash to shore up balance sheet Otto seeks cash to shore up balance sheet

Otto will launch a one-for-one entitlement offer to raise $16.15 million and a placement for a further $1.4 million tomorrow. Shares are offered at 0.

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