Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on OTTO ENERGY LTD. We currently have 4 research reports from 1 professional analysts.
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OTTO ENERGY LTD
OTTO ENERGY LTD
Focused on 2016
18 Dec 15
In 2015 Otto transformed from producer to pure explorer. With the drop in commodity prices, this was perfect timing. The first well under the new strategy was not successful – its fully carried Hawkeye-1 exploration well (offshore the Philippines) was declared uncommercial in October and it is seeking to exit the area. However, Otto has added to the portfolio with entry into the Alaskan North Slope, a recent deal in Louisiana and drilling in Tanzania in 2016, pointing to an exciting year ahead for shareholders. After some adjustments, our RENAV uplifts slightly to A$0.07/share, but we will revisit it in the new year following further clarity on the GoM options.
02 Sep 15
The Hawkeye-1 well has been completed and declared uncommercial. While encountering hydrocarbons, the volumes were at the very low end of expectations and were mostly water wet. The results will be built into the SC55 model and next moves there are being considered. Otto was fully carried for the well and so cash balances remain strong to develop the Tanzania and Alaska exploration prospects. Our core NAV remains A$0.04/share and RENAV, removing Hawkeye-1, adjusts to A$0.06/share from A$0.15/share.
More American pie
10 Aug 15
Otto’s A$1.2m in a share acquisition of 100% of Borealis follows swiftly on the recent further farm-out of Hawkeye-1 to Pryce Gases and rapid drilling of the initial stages of the well. Crucially, the acquisition gives Otto, in stages, a greater exposure to the Alaskan Great Bear exploration acreage and development. We see these moves as value accretive, with Otto utilising its cash wisely, giving shareholders exposure to a potentially very rewarding play.
31 Jul 15
With the spudding of the Hawkeye-1 well in the Philippines due imminently, Otto has announced a departure from its historic core operating areas to take a small working interest in the highly prospective North Slope of Alaska. Otto has signed an LOI and taken an equity stake (40%) with private Australian company Borealis Petroleum, which is currently farming into Great Bear Petroleum’s acreage. At the equivalent of US$342/acre and with three wells to be drilled in early 2016, newsflow over coming months has the potential to be very value-accretive. Adjusting for the Galoc sale and dividend, our RENAV is A$0.15/share.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
24 Nov 16
Quixant* (QXT): Gaming gains (CORP) | SCISYS* (SSY): Bringing good news from Germany (CORP) | Hayward Tyler Group*: Contract wins (CORP) | Sound Energy (SOU): TE-7 flow rate and fund raise (BUY) | Water Intelligence* (WATR): Growth and improving returns in a defensive market (CORP) | Imaginatik* (IMTK): Interim trading update (CORP)
Small Cap Breakfast
29 Nov 16
Asia Pacific Investment Partner - the research-driven emerging and frontier markets real estate development business intends to float on AIM and conduct a placing in December RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
GTL transaction not going ahead
01 Dec 16
Intelligent Energy (IEH) has announced that the deal to acquire the Energy Management Business of GTL will not now be consummated. The move leaves management free to concentrate on driving sales of commercially ready B2B products, which is a key element of its strategy. We adjust our FY17e revenue estimate while leaving our pre-exceptional losses and cash-flow forecasts unchanged.