BRIEF-Otto Energy says Philippines Department Of Energy approves transfer of SC55 interest and operatorship to Co

March 14 (Reuters) - Otto Energy Ltd OEL.AX :

* Says Philippines Department Of Energy (DOE) approves transfer of SC55

interest and operatorship to Otto

* BHP Billiton to pay US$3 mln to Otto on re-assignment and US$24.5 mln to co upon drilling of an exploration well

* Source text for Eikon News Search ID:nASX6qHbgv

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