Nido Petroleum Limited (ASX:NDO) (‘Nido’ or the ‘Company’) and Otto Energy Limited (ASX:OEL) (‘Otto’) are pleased to announce that the companies have executed a Sale and Purchase Agreement (‘SPA’) whereby Nido will acquire 100 per cent of the shares in Galoc Production Company WLL (‘GPC’), the holder of Otto’s 33 per cent working interest in the Galoc oil field, located in Service Contract 14C1 in the Philippines.
