Otto Marine

Otto Marine: subsidiary Reflect Geophysical entered into a contract (valued at a minimum of ~US$2.7 million) with Octanex NZ Ltd, for a 270 sq km 3D Seismic Data Acquisition in the Taranaki Basin area of New Zealand. While news is mildly positive, order is small compared current order book of US$180m. KE has a Buy with $0.58 target, following recent 2Q10 results that were inline with expectations.