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Last C$1.06 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 10:57 AM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

oando energy resources inc (OER) Snapshot

Open
C$1.07
Previous Close
C$1.06
Day High
C$1.07
Day Low
C$1.06
52 Week High
04/1/15 - C$2.03
52 Week Low
01/30/15 - C$0.75
Market Cap
843.8M
Average Volume 10 Days
183.7
EPS TTM
C$0.03
Shares Outstanding
796.0M
EX-Date
--
P/E TM
33.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for OANDO ENERGY RESOURCES INC (OER)

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oando energy resources inc (OER) Details

Oando Energy Resources Inc. acquires, explores, develops, and produces oil and natural gas primarily in Nigeria, and São Tomé and Príncipe. The company produces and sells crude oil, natural gas, and natural gas liquids. It holds interests in 16 licenses for the exploration, development, and production of oil and gas assets located onshore, swamp, and offshore. The company is headquartered in Calgary, Canada. Oando Energy Resources Inc. is a subsidiary of Oando Plc.

90 Employees
Last Reported Date: 04/1/15

oando energy resources inc (OER) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $450.9K
Chief Financial Officer
Total Annual Compensation: $358.7K
Chief Operating Officer
Total Annual Compensation: $200.0K
Head of Well Engineering & Services
Total Annual Compensation: $261.2K
General Manager of New Business, Acquisitions...
Total Annual Compensation: $391.2K
Compensation as of Fiscal Year 2014.

oando energy resources inc (OER) Key Developments

Oando Energy Resources Inc. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the Year 2015

Oando Energy Resources Inc. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, net revenue was $132.4 million an increase of $100.2 million over $32.2 million earned in the first quarter of 2014, primarily as a result of the COP Acquisition producing assets of OML 60 to 63. The company had a net loss of $21.1 million, as compared to a net loss of $39.9 million in the first quarter of 2014. The net income improvement, which included a one-time charge of $16.4 million associated with the resetting of Financial Hedge instruments, which was primarily influenced by operations at OMLs 60 to 63, and was partially offset by financing expenses, general and administrative costs increases and increased depletion. Funds from operations increased to $49.4 million, from $20.3 million in the first quarter of 2014 and decreased compared to $52.9 million in the fourth quarter of 2014. The increase from the first quarter of 2014 was primarily as a result of increased cash flow generated by the new production assets acquired in the third quarter of 2014 and the decrease from quarter to quarter was a result of lower crude oil prices. Capital expenditures of $37.8 million were incurred in the first quarter of 2015. The capital expenditures consisted of $20.8 million at OMLs 60 to 63, $12.8 million at OML 125 and $3.9 million spent at Qua Ibo and Ebendo. Net loss per basic and diluted share was $0.03 against $0.40 a year ago. For the quarter ended March 31, 2015, production increased to 5.0 MMboe (average 55,399 boe/day) from 0.4 MMboe (average 4,531 boe/day) in first quarter 2014 and was consistent with 5.0 MMboe achieved in the fourth quarter of 2014. The increase from first quarter 2014 to first quarter 2015 is primarily from the Nigerian onshore and offshore assets acquired from the ConocoPhillips Company that included substantial production from OMLs 60 to 63, significant reserves and resources, and a considerable base of development and exploration opportunities; For 2015, the company estimates that $35.6 million will be expended on crude oil related projects and $24.1 million on gas projects in the OMLs 60 to 63 areas. Throughout 2015, the company has estimated $0.6 million in capital expenditures for facility enhancements and has estimated $7.7 million in capital expenditures for facility and pipeline overhauls and enhancements. The company estimates $67.1 million of capital expenditures being incurred on the OML 125 Asset. Furthermore, as a result of decreasing its borrowings by $238 million, the company expects to incur lower interest expense for the balance of the year 2015.

Oando Energy Resources Inc. Announces Board Changes; to Refinance its $100 Million Subordinated Debt Facility

Oando Energy Resources Inc. announced that Mr. Ronald Royal has joined its board of directors and that Lead Director Mr. Chris Harrop is leaving the board. Mr. Bill Watson has assumed the role of Lead Director. Mr. Ronald Royal has over 40 years of experience in the oil and gas industry. From 2002 until his retirement in 2007, he was President & General Manager of Esso Chad where he oversaw the development of the Chad Development Project. As a result of decreasing its borrowings by $238 million, the company expects to incur lower interest expense for the balance of the year. Finally, the company is advancing efforts to refinance its $100 million subordinated debt facility into a term loan of 4 to 5 years.

Oando Energy Resources Inc., Annual General Meeting, Jun 11, 2015

Oando Energy Resources Inc., Annual General Meeting, Jun 11, 2015., at 11:00 US Eastern Standard Time. Location: Harbour View Suite of the Trump International Hotel & Tower. Agenda: To receive the consolidated financial statements of OER for the years ended December 31, 2014 and 2013 and the auditor's report thereon; to elect the directors of OER; to appoint PricewaterhouseCoopers LLP, Chartered Accountants, as the auditor of OER and to authorize the directors to fix their remuneration; to consider and, if thought fit, to pass a resolution approving the renewal of OER's share option plan; to consider and, if thought fit, pass a resolution approving, ratifying and confirming OER's share unit plan; to approve the continuance of OER from the Canada Business Corporations Act to the Business Corporations Act (British Columbia) (the Continuance); and to transact such other business as may properly be brought before the Meeting or any postponement or adjournment thereof.

 

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Price/Sales 1.3x
Price/Book 0.7x
Price/Cash Flow 2.5x
TEV/Sales 0.2x
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