CALGARY, Alberta, December 17, 2012 /PRNewswire/ --
Oando Energy Resources Inc. ("OER" or the "Company") (TSX: OER), a company focused on oil exploration and production in Nigeria, today announced the appointment of Philippe Laborde to the OER Board of Directors.
"We look forward to welcoming Philippe to the OER Board of Directors," said Wale Tinubu, Chairman of OER's Board of Directors. "Philippe will complement our leadership team with additional international, upstream experience, much of which has focused on Africa. His background in the field of oil and gas finance will undoubtedly benefit us as we continue to grow Oando Energy Resources."
Philippe Laborde is an experienced oil and gas professional with 35 years of industry experience. Mr. Laborde is currently the founder & CEO of Olaeum Energy, a start-up venture capital company focused on oil and gas investments across Africa. Prior to this, he co-founded DB Petroleum, an upstream joint venture between Dubai World and Benny Steinmetz Group and acted as its CEO for the Africa and the Middle East region. Mr. Laborde was a Director in the Trading, Shipping & Electricity Division of Total S.A. Prior to this, he spent more than 20 years in progressively senior international positions at Elf Aquitaine that culminated with his appointment as the Head of Finance for the Asia, Latin America and Middle East areas. Mr. Laborde has a DEA from the Paris Dauphine University and an M.Eng from Grenoble University.
About Oando Energy Resources Inc. (OER)
OER currently has a broad suite of producing, development and exploration properties in the Gulf of Guinea (predominantly in Nigeria) with current production of approximately 3,225 bbls/day from the Abo Field (OML 125). OER has been specifically structured to take advantage of current opportunities for indigenous companies in Nigeria, which currently has the largest population in Africa, and one of the largest oil and gas resources in Africa.
Forward Looking Statements:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking statements relating to the intended Acquisition.
Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that such statements and information will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: risks related to international operations, the actual results of current exploration and drilling activities, changes in project parameters as plans continue to be refined and the future price of crude oil. Accordingly, readers should not place undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive.
There is no certainty that any portion of the resources referred to herein will be discovered and, if discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
Additional information on these and other factors that could affect the Company's financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (http://www.sedar.com) for the Company. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
For further information:
Pade Durotoye, CEO
Oando Energy Resources Inc.
Head Investor Relations
Oando Energy Resources Inc.
Jeremy Dietz/David Feick
SOURCE Oando Energy Resources Inc.