2009-08-15-2009-02-01-2009-02-01

Farm-in to earn 32.48% indirect WI in Santa Rosa exploration license in Cuyana Basin, Mendoza province, Argentina.

Otto Energy Ltd., Perth, Australia, (Australia: OEL) has entered a farm-in into the Santa Rosa exploration license in Argentina with Oromin Explorations Ltd., Vancouver (Toronto: OLE; OTCBB: OLEPF). Oromin has approved the exploration work program and budget totaling US$4.1 million with the view to start drilling in the first half of the year. The Santa Rosa Block is a large 7,694-square-kilometer onshore concession in the Cuyana Basin of the Mendoza province. In November 2005, Oromin and Otto agreed to farm-in to the Santa Rosa Block, whereby Otto would initially earn a 32.48% indirect working interest from Oromin. Otto will earn the shareholding in Oromin-owned Cynthia Holdings Ltd., which owns Argentinean company Exploraciones Oromin SA. Exploraciones Oromin holds 100% of the rights to explore and produce from the Santa Rosa Block. The farm-in consideration is for Otto to fund the first US $1.4 million of the approved exploration work program and budget, after which it contributes it's pro rata equity share. The interest holders in the Santa Rosa license are now indirectly Oromin at 67.52% (operator) and Otto 32.48%. Otto is entitled to take an equivalent direct interest in the Santa Rosa Block at any time subject only to Argentinean government approvals.