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Why Did Otto Energy’s Proved Reserves Drop 10% Despite Strong Field Performance?
12:41pm on Thursday 14th of August, 2025 AEST
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Energy
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Why Did Otto Energy’s Proved Reserves Drop 10% Despite Strong Field Performance?
12:41pm on Thursday 14th of August, 2025 AEST
Key Points
Proved reserves (1P) decline 10% to 1.8 million barrels of oil equivalent
Proved plus probable reserves (2P) fall 24% to 2.5 million boe due to production and reclassifications
Possible reserves (3P) remain relatively stable with a slight 3% decrease
Significant drop in contingent and prospective resources following ST 48 lease relinquishment
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