Otto Energy : Director Appointment - Kevin Small

ASX ANNOUNCEMENT

29 January 2019

BOARD APPOINTMENT - MR KEVIN SMALL

The Board of Otto Energy Limited (ASX:OEL) ("Otto" or the "Company") is pleased to announce the appointment of Mr Kevin Small as a US-based non-executive director of the Company.

Kevin has over forty years' experience in the Gulf of Mexico both onshore and offshore, and has been responsible for the generation, farm-in, drilling and development of numerous Gulf Coast discoveries. Kevin brings extensive networks and relevant experience to Otto's Gulf Coast business.

In addition to his non-executive director role, Kevin will continue to consult to the Company on a part-time basis as a Senior Exploration Consultant.

Prior to joining Otto Kevin worked with Tri-C Resources, a privately owned Houston based oil and gas company, developing Gulf Coast conventional prospects for drilling. Between 2003 and 2012, Kevin worked for Bluestreak Exploration Group developing prospects exclusively for LLOG Exploration which resulted in successful discoveries on the Gulf of Mexico Shelf and Deepwater. Kevin was the Exploration Manager and a founding member of the Houston office of Westport Oil and Gas Company between 1996 and 2003, ultimately helping them go public in October 2000. Kevin also has worked for the Superior Oil Company and McMoran Oil and Gas, starting his career in 1978. During his time with LLOG, Westport, and McMoRan, he has drilled wells with cumulative production of over 692 BCFG and 82 MMBO.

Kevin graduated with a B.S in Geophysical Engineering from the Colorado School of Mines in 1978 and is a resident of Houston, Texas.

Otto Chairman, John Jetter, commented: "We are very pleased to be able to round out our Board composition with the appointment of such a highly experienced, Houston-based gulf-coast specialist as Kevin Small. I welcome Kevin to the Board and look forward to his contribution as we grow our business in the Gulf of Mexico and build on the successful SM 71 development."

Contact: Matthew Allen Managing Director & CEO [phone]

Investor Relations: Mark Lindh Adelaide Equity Partners [phone]

Otto Energy Limited ASX Code: OEL ABN: 56 107 555 [e-mail]: [phone]

Australian Office: 32 Delhi Street, West Perth WA 6005 Australia PO Box 1414, West Perth, WA 6872 Australia Houston Office: Suite #1080, Two Allen Center, 1200 Smith Street, Houston, Texas 77002 T: [phone]