Otto hedges its bets, cuts costs

Otto hedges its bets, cuts costs

Focusses on financial vigilance

Finance & Legal

16 JULY 2020
Otto CEO steps down

Otto CEO steps down

Allen to remain as advisor as hunt for replacement begins

Workforce

11 JUNE 2020
Byron restores production as oil prices rise

Byron restores production as oil prices rise

Optimism abound as WTI reached $24/bbl and Brent hits $30/bbl

Production

07 MAY 2020
Otto slashes wages and work hours to stay afloat

Otto slashes wages and work hours to stay afloat

Capital raise bolsters bank balance

Covid-19

06 APRIL 2020
Otto's chairman resigns to save company

Otto's chairman resigns to save company

Board review underway as SM71 scales back production

Investment

02 APRIL 2020
Otto's share price down after capital raise

Otto's share price down after capital raise

Welcome Motto Energy? Existing shareholder Molton takes lion's share

Investment

31 MARCH 2020
Otto seeks cash to shore up balance sheet

Otto seeks cash to shore up balance sheet

Appeals to shareholders for A$17.5 million

Finance & Legal

26 MARCH 2020
Byron and Otto hit gas in GOM 

Byron and Otto hit gas in GOM 

Further drilling pushed back until oil wars are over  

Exploration

23 MARCH 2020
ASX-listers reassure shareholders with hedging programs

ASX-listers reassure shareholders with hedging programs

Follows king-hit to market from oil price woes

Finance & Legal

12 MARCH 2020
Byron completes SM71 F4, plans F5 spud

Byron completes SM71 F4, plans F5 spud

Hopes to test "poorly drained" section of reservoir

Exploration

04 MARCH 2020
Otto's onshore Texas well online

Otto's onshore Texas well online

Future well to unlock upside further down 

Development

24 FEBRUARY 2020