Australia's Otto Energy jumps on strong half-yearly results

Otto Energy

13/03/2023 01:05

** Shares of Otto Energy Ltd  OEL.AX  jump as much as 8.3%
to A$0.013, posting their biggest intraday pct gain since Feb 9
    ** Oil explorer says HY NPAT up 7% to $11.9 mln
    ** Says HY revenue up 18% to $21.4 mln
    ** Says on track to meet its full-year production and cost
guidance
    ** Shares touch their highest since March 7
    ** About 5.7 mln shares change hands vs the 30-day average
of about 2 mln shares
    ** Stock had fallen 7.7% this year, as of last close

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))