Oando Energy Resources Announces Changes to Board of Directors
CALGARY, Alberta, October 18, 2012
CALGARY, Alberta, October 18, 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 Bill Watson to the OER Board of Directors and the
resignations of Mr. Tony Henshaw and Mr. Stan Bharti, who resigned from the
board to focus on other initiatives.
"We look forward to welcoming Bill to the OER Board of Directors. His wide
international experience and his Technical and Leadership experience will
undoubtedly compliment our leadership team and we look forward to working with
him in the future," said Adewale Tinubu, Chairman of OER's Board of Directors.
"I would also like to thank Tony and Stan for the significant roles they
played in the creation and evolution of our Company. We wish them well in
their future endeavors."
Bill Watson is a seasoned oil and gas professional with more than 35 years of
progressive experience. For the past 20 years he has held executive and middle
management roles both internationally and in North America. He most recently
served as Husky Energy's Chief Operating Officer, S.E. Asia where he was
responsible for managing Husky Energy's S.E. Asia Business activities. Prior
to this, he held the position of VP Engineering and Projects at Husky Energy
where he was the Lead Officer responsible for the strategies and execution
plans of all Husky projects worldwide. Mr. Watson has also held senior E & P
leadership positions with Marathon Oil, Amerada Hess, Triton Energy and
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 4,500 barrels of oil per day. 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
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
Pade Durotoye, CEO Oando Energy Resources Inc.
email@example.com +1-403-561-1713Tokunboh Akindele Head
Investor Relations Oando Energy Resources Inc.
firstname.lastname@example.org +1-403-560-7450Jeremy Dietz/David Feick
Investor Relations +1-403-218-2833 email@example.com
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