Australia's Otto Energy gains on review to maximise shareholder value

Otto Energy

29/03/2023 03:49

** Shares of oil explorer Otto Energy Ltd  OEL.AX  jump as
much as 7.7% to A$0.014
    ** Set for best day since March 20, if gains hold
    ** Co initiates review process to evaluate strategic options
to maximise shareholder value 
    ** Says evaluation entails assessment of a potential partial
or full sale of company and/or assets
    ** More than 4.5 mln shares change hands, compared with the
30-day average volume of ~1.1 mln shares
    ** Stock currently flat this year, as of last close
 

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))