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	9/6/2011 - FEED, 3D SEISMIC WORK GREENLIGHTED FOR GALOC PHASE II
Otto Energy Ltd. advises that approval has been granted to commence FEED work on and the acquisition of 3D seismic for Phase II of the Galoc oilfield. The FEED work will determine the exact locations and number of additional wells to be drilled, expected to commence in 2013. The new 3D seismic will support the placement of Phase II wells in the reservoir and de-risk capital expenditure. Otto currently owns an 18.78% holding in Galoc through GPC. Otto has entered into an agreement to increase its interest to a direct 33.00% in Galoc, including 100% ownership of GPC, and to assume control of the operator of the field. Completion of the agreement is scheduled to occur prior to Sept. 30, 2011.

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