Otis Energy (ASX: OTE) has acquired a 10% working interest in the potential 126 million barrels of oil and 379 billion cubic feet of gas reserve Avalanche 3D project, located in South Central Louisiana, U.S.
Otis Energy (ASX: OTE) is preparing to release an announcement relating to initial flow testing results at its Comanche project in Texas.
The company had earlier this month started drilling the horizontal section of its Comanche Horizontal Shallow Oil project well in north central Texas.
The lateral was drilled following studies aimed at determining the best lateral entry point and completion process.
Otis had previously estimated that ultimate recoveries of 250,000 barrels of oil equivalent (boe) were possible from the well targeting the liquids rich Marble Falls Limestone.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Monday 21 May.
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