Production

South Marsh Island 71

South Marsh Island Block 71 (SM 71) is located on the Gulf of Mexico shelf in approximately 40 metres of water. Production commenced from the F1 and F2 wells in March 2018 and the F3 well in April 2018. The F5 well bore is also a future sidetrack candidate.

Otto owns a 50% Working Interest (WI) and a 40.625% Net Revenue Interest (NRI) in SM 71. Byron Energy (ASX:BYE) is the operator of the asset.

Gross production (100% basis, at 30 June 2021) is approximately 2,822 boe/day.

2P reserves (100% basis, at 30 June 2020) are 4,773 Mbbl oil and 3,790 MMscf gas for 5,365 Mboe.

Otto Working Interest

50%

Otto Net Revenue Interest

40.6%

Status - Producing From

3 wells

Gross Production (100% basis, at 30 June 2021)

2,822 boe/day

Liquids Proportion of 2P Reserves

88%

Lightning Field

The Lightning gas/condensate field is located in onshore Matagorda County, Texas. Production commenced from the Green #1 well in April 2019 and the Green #2 well in February 2020.

Otto owns a 37.5% WI and 28.2% NRI in the Lightning field. Hilcorp Energy is the operator of the asset.

Gross production (100% basis, at 30 June 2021) is approximately 3,254 boe/day.

2P reserves (100% basis, at 30 June 2020) are 2,160 Mbbl oil and 71,996 MMscf gas for 14,159 Mboe.

Otto Working Interest

37.5%

Otto Net Revenue Interest

28.2%

Status - Producing From

2 wells

Gross Production (100% basis, at 30 June 2021

3,254 boe/day

Liquids Proportion of 2P Reserves

15%

Green Canyon 21

The Green Canyon 21 (GC 21) lease is located in the Gulf of Mexico in approximately 370 metres of water. Production commenced from the Bulleit well in October 2020.

Otto owns a 16.7% WI and 13.3% NRI in GC 21. Talos Energy (NYSE:TALO) is the operator of the asset.

The Bulleit well has underperformed flow expectations since commencing production. It is currently being monitored as asset partners assess future well interventions or recompletion plans.

Gross production for the June 2021 Quarter is approximately 228 boe/day.

2P reserves (100% basis, at 30 June 2020) are 11,705 Mbbl oil and 11,996 MMscf gas for 13,704 Mboe.

Otto Working Interest

16.7%

Otto Net Revenue Interest

13.3%

Status - Producing From

1 well

Gross Production for the June 2021 Quarter

228 boe/day

Liquids proportion of 2P Reserves

85%

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