Otto Energy Limited (AU:OEL) has released an update.
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Otto Energy Limited reports a solid quarter with consistent production and revenue, alongside a 14% reduction in operating costs compared to the previous year. The company, debt-free and with strong cash reserves, is focusing on asset optimization and cost reduction, and plans to return up to A$40 million to shareholders. Additionally, a change in leadership is noted with the resignation of Chairman John Jetter and the appointment of Geoff Page as the Interim Chairman.
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