CALGARY, Dec. 17, 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 Philippe Laborde to the OER Board of
"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
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