RISC Review of Otto’s Galoc oil field reserves

RISC has reviewed the Galoc oil field reserves in accordance with the SPE, WPC, AAPG and SPEE Petroleum Resource Management System definitions, guidelines and auditing standards.

The reported increases in reserves are attributable to better than expected reservoir performance to date and an extension of field life due to higher prevailing oil prices. The Galoc oil field is expected to remain in production beyond 2020 based on the Galoc Phase I and Phase II well configuration.

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