Otto Energy's South Marsh Island Oil field (SM71) continues to perform within expectations and the newly re-completed F2 is producing a steady 180 bbls/day. SM71 has reached project payback within the projected 12 months. OEL is drilling the second well in the Hillcorp program and preparations are underway for the drilling of the Winx-1 well on the North Slope in Alaska. We maintain our BUY recommendation with a target price of $0.10.
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