Otto Energy Limited advised of its participation in two exploration prospects located onshore in Texas. Otto has agreed to participate in the Schindler Prospect in Colorado County, and the Eaves Prospect in Lavaca County. Both wells are testing a regionally proven Wilcox play, with the Eaves well also testing a shallow Yegua objective. Both wells are to be drilled on a `turnkey' basis to minimize drilling cost exposure. Both wells are planned to be drilled during Fourth Quarter CY2021. Participation in these two prospects is a result of Otto's continuing efforts to advance its growth strategy (Pillar 3). Both opportunities are assessed to meet Otto's previously stated targeted risk and return growth criteria. In the success case these prospects are expected to further leverage Otto into the currently strong gas market with Henry Hub prompt pricing of $5.45 /MMbtu and the next 12 month average at $4.59 /MMbtu.