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Otto Energy (OEL) – 1HFY19 Results and Winx – 1 Update

    Home Latest Research Otto Energy (OEL) – 1HFY19 Results and Winx – 1 Update
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    Otto Energy (OEL) – 1HFY19 Results and Winx – 1 Update

    By admin | Latest Research | 0 comment | 5 March, 2019 | 0

    Otto Energy Logo

    OEL released a positive set of half-year results that were ahead of expectations. The results were pleasing in that the margins are high and OEL is using its strong cash flow to fund a comprehensive exploration program to grow the business. The new Lightning well is going to be tied in by the end of March making an immediate contribution to cash flow. The Winx-1 well on the North Slope has intersected hydrocarbons, and the joint venture is now going to run a wireline logging suite to determine the commerciality of the well. We maintain our Buy recommendation with a price target of $0.13.

     

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