The securities of Otto Energy Limited will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company.
Unless the Australian Stock Exchange (ASX) decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Monday, 22 September 2014 or when the announcement is released to the market.
Otto Energy has projects in East Africa and South Eastern Asia. In East Africa Otto has a direct interest on 50% of the Pangani and Kilosa-Kilombero Production Sharing Contract through its wholly owned subsidiary Otto Energy (Tanzania) Pty Ltd with Swala Oil and Gas (Tanzania) Ltd (a subsidiary of Swala Energy Limited being the operator and holding the other 50% equity interest.
In Tanzania Swala and Otto Energy are preparing to commence acquisition of further seismic data, and are also planning for drilling of the Kito prospect in 2015.