CALGARY, Oct. 18, 2012 /CNW/ - 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
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
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
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 (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.
SOURCE: Oando Energy Resources Inc.
For further information:
Pade Durotoye, CEO
Oando Energy Resources Inc.
+1403 561 1713
Head Investor Relations
Oando Energy Resources Inc.
+1403 560 7450
Jeremy Dietz/David Feick
+1 403 218 2833