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Mixed bag for Otto

OTTO Energy has booked a cash reserve of $US32.44 million ($A29.6 million) in the June quarter, up 3.61% from the March quarter, while net oil production from its Philippine fields fell 5.11% to 116,106 barrels.

James McGrath
Mixed bag for Otto

The total sum of the production came from the Galoc field, where it holds an indirect 18.78% interest. The company expects production numbers to go up as the Galoc joint venture recently approved the...

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