Shares in West Perth-based Otto Energy have surged higher today after it signed a farm-in option deal with BHP Billiton over an oil project in the Philippines, some 10 months after the initial agreement lapsed.

Shares in West Perth-based Otto Energy have surged higher today after it signed a farm-in option deal with BHP Billiton over an oil project in the Philippines, some 10 months after the initial agreement lapsed.