Otto Energy Limited (ASX:OEL) To Farm-Out Service Contract 55 In Phillipines to BHP Billiton

  Perth, Australia, Dec 22, 2008 - (ABN Newswire) - Upstream oil and gas company Otto Energy Limited (ASX:OEL)(PINK:OTTEF) is pleased to announce that the Company has entered into a conditional heads of agreement with BHP Billiton Petroleum Pty Limited (BHP Billiton) to farm & amp;#8208;out 60% of its interest in Service Contract (SC) 55. SC55 covers a deep water block located offshore southwest Palawan Island, in the Philippines.Highlights:  

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