The Philippines Department of Energy has granted an extension of Sub Phase 4 of Service Contract 55 for a period of 12 months, Otto Energy Ltd. said in a press release. Sub Phase 4 will now expire on Dec. 23, 2015.
The company is continuing its farm-out process to secure quality joint venturers to participate in the drilling of the Hawkeye-1 exploration well.
Planning and preparation for drilling of Hawkeye in 2015 has commenced, including steps for the acquisition of critical path long lead items.
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