Oando Energy Comments on Trading Activity at the Request of IIROC

Jul 24, 2015, 13:37 ET from Oando Energy Resources Inc.

CALGARY, Alberta, July 24, 2015 /PRNewswire/ --

Oando Energy Resources Inc. ("Oando Energy Resources", "OER" or the "Company") (TSX: OER), at the request of the Investment Industry Regulatory Organization of Canada ("IIROC"), on behalf of the Toronto Stock Exchange, announces that it is not aware of any reason for the recent increase in the Company's share price in today's trading session.

Through much of the second quarter the Company's shares traded in a range between $1.40 and $1.80 but have recently seen greater volatility, albeit on relatively low daily trading volumes. Oando Plc, OER's ultimate controlling shareholder and parent company, owns approximately 94% of the issued and outstanding shares of the Company.

Oando Energy Resources will disclose its Q2 2015 financial results before August 15, 2015.

About Oando Energy Resources Inc.  

OER currently has a broad suite of producing, development and exploration assets in the Gulf of Guinea (predominantly in Nigeria). OER's sales production was 52,889 boe/d for the month ended May 31, 2015.

Pade Durotoye, CEO, pdurotoye@oandoenergyresources.com, +1-403-561-1713; Tokunboh Akindele, Head Investor Relations, takindele@oandoenergyresources.com, +1-403-560-7450

SOURCE Oando Energy Resources Inc.