Otto Energy Begins Drilling Onshore the Philippines

Otto Energy has begun drilling on the Duhat-1 well located in Service Contract 51, San Isidro, the Philippines.

The company will drill to a target depth of 100m in about 27 days with the help of the DESCO Rig-1 drilling unit.

The well will be drilled and tested for potential hydrocarbon accumulations within the sandstones of the Miocene Tagnocot formation of the San Isidro anticline.

Hydrocarbon shows in several of the shallow wells, and the presence of numerous oil seeps in the area indicate the presence of an active petroleum system.

If drilling is successful at Duhat-1 well, it will be followed-up by additional exploration drilling on nearby look-alike structures.