April 6 (Reuters) - Otto Energy Ltd OEL.AX :
* OTTO ENERGY - RUNNING COSTS OF HOUSTON OFFICE REDUCED THROUGH UNPAID FURLOUGHS, REDUCED HOURS & 30% CUTS IN BASE SALARIES FOR STAFF & CONTRACTORS
* OTTO ENERGY LTD - BOARD AND MANAGING DIRECTOR HAVE CONFIRMED THAT THEY WILL BE TAKING UP THEIR FULL ENTITLEMENTS IN CURRENT CAPITAL RAISE
* OTTO ENERGY LTD - BOARD HAVE RESOLVED TO IMMEDIATELY REDUCE THEIR DIRECTOR FEES BY 50% FOR NEXT SIX MONTHS
* OTTO ENERGY LTD - MANAGING DIRECTOR HAS OFFERED TO REDUCE HIS COMPENSATION BY 50%, SUBJECT TO US DEPARTMENT OF LABOR CONSENTS
* OTTO ENERGY LTD - JOHN JETTER ELECTED CHAIRMAN FOLLOWING RESIGNATION OF IAN BOSERIO