Otto Energy Limited (AU:OEL) has released an update.
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Otto Energy Limited has announced the discovery of significant hydrocarbon pay in the D5, I2, and I3 sand intervals of the F5-ST well in the Gulf of Mexico. Despite drilling challenges, including a stuck drill pipe, Otto plans to participate in a bypass well to assess these promising finds further. The company, in partnership with Byron Energy, is optimistic about the potential of the SM 71 lease.
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