Production

Otto rejoined the ranks of producing oil companies in March 2018 when it commenced production from its 50% owned SM 71 oil field in the Gulf of Mexico shelf. Otto currently has oil production from its SM 71 oil field
in the Gulf of Mexico and gas/condensate production from its Lightning discovery onshore Matagorda
County, Texas. Development is underway at the Green Canyon 21 oil discovery in the Gulf of Mexico.

Cashflow from its producing assets underpins its growth strategy including an active exploration and
appraisal program in the Gulf of Mexico region.