Otto Energy Limited provided an operational update in relation to the two Wilcox exploration prospects that it is participating in, located onshore in Texas. The Schindler #2 well, in Colorado County, Texas, operated by Castex Energy Inc. was spudded at 2pm US Central Standard Time (CST) on 14 October 2021. It is currently at 12,600 feet TVD (True Vertical Depth) where intermediate casing is being set. After this casing is set, tests will be run prior to drilling ahead to the main Wilcox target objective which is expected to be intersected at approximately 13,600 feet TVD. The Vick #1 well, which will be drilled within the Eaves Prospect in Lavaca County, Texas, has received its W-1 drilling permit. Surface preparations for the well have commenced. A rig is under contract. Drilling is currently forecast to commence in early December 2021.