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April 4, 2013 /PRNewswire/ --
Oando Energy Resources Inc. ("
OER" or the "
TSX:OER), a company focused on oil exploration and production in
Nigeria, today announced the resignation of
Ian Gray from the Company's Board of Directors with immediate effect. OER's Board now consists of seven directors, four of which are independent.
"With sincere regrets I announce my resignation with immediate effect from the Board of Directors of OER, due to medical reasons," said
Ian Gray. "I have very much enjoyed the time that I have served on the Board and wish the Company great success in the future."
"We appreciate Ian's contribution to the OER Board of Directors and have undoubtedly benefited from his many years of experience," said Wale Tinubu, Chairman of OER. "We wish Ian all the best in the future and will update the market once the Board selects a candidate to fill his vacancy."
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. 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
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 intended acquisitions.