Oando Energy Resources Announces Operational Update
Additionally, good progress continues to be made on the alternative pipeline that is being planned to accommodate increased production expected from the Ebendo field. Line pipes have been delivered to the location and the stringing and laying activities are expected to commence imminently.
OML 90 (Akepo Field, 40% non- operated interest)
The development objective of the Akepo field is to re-enter the well and evacuate the hydrocarbons via the wellhead jacket and 16 km pipeline to NAOC's Beniboye Flowstation for processing and export. The well was re-entered in 2010, and completed as a dual string producer on the D6 and D1 sands. The EPC contractor for the production facilities was awarded in 2011, and the wellhead jacket construction is being finalized.
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 3,070 barrels of oil per day from the Abo Field in 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. 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 uncertainties.
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