Australia's Otto Energy skids on oil well suspension in Gulf of Mexico

Otto Energy

14/10/2022 01:30

** Shares of Otto Energy Ltd  OEL.AX  drop as much as 11.8%
to A$0.015, on track for worst day since Sept 19, if losses hold
    ** The oil explorer says it temporarily suspended oil well
and demobilised drilling rig in the Gulf of Mexico due to
operational challenges related to loop currents and Hurricane
Ian   urn:newsml:reuters.com:*:nASXmL71x
    ** More than 8.9 mln shares change hands, vs the 30-day
average volume of 7.4 shares
    ** Otto stock up 21.43% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))