Sunday 1 March 2015

Philippines: Otto Energy farms out SC55 to Red Emperor Resources - secures rig for Hawkeye-1 well

Otmane El Rhazi from Energy-pedia regional news: Central & SE Asia / Australasia.



Otto Energy has signed a farm-in agreement with Red Emperor Resources to earn a 15% working interest in SC55, offshore the Philippines. Otto has also executed a letter of intent with Maersk Drilling to secure the Maersk Venturer ultra-deepwater drillship to drill the Hawkeye-1 exploration well.

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