May 29 (Reuters) - Otto Energy Ltd OEL.AX
* Asx alert-Otto to raise US$8.2 million via convertible notes issue-OEL.AX
* Funds raised to be used to develop SM-71 oil project located offshore gulf of Mexico
* SM-71 remains on track for first oil production by End of 2017 Source text for Eikon: Further company coverage: OEL.AX