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Oando Energy Resources expects Ebendo Field production to restart in two weeks

Wednesday, Dec 12, 2012

CALGARY, Alberta, December 11, 2012 /PRNewswire/ --Oando Energy Resources Inc. ("OER" or the "Company") (TSX: OER), a company focused on oil exploration and production in Nigeria, today announced an update regarding the damaged 10 inch Kwale-Akri oil delivery pipeline that is operated by Nigerian Agip Oil Company Limited and connects OER's Ebendo Field (OML 56) to the Brass export terminal (as previously disclosed on November 12, 2012).

Assessment efforts have revealed that the delivery line, which was damaged 150 metres from the shoreline, will require a partial replacement. Preparation activities, as well as procurement and mobilization of the required equipment, have commenced. OER anticipates the delivery line to recover full integrity in two weeks time, at which point production from the Ebendo Field (OML 56) is expected to resume.

Prior to the Kwale pipeline shut-in, OER was producing approximately 4,600 bbls/day from its two producing assets, the Abo Field (OML 125) and the Ebendo Field. The Abo Field produces 3,225 bbls/day into a floating, production, storage and offloading unit and has not been affected by the pipeline disruptions. The Ebendo Field was responsible for the additional 1,400 bbls/day of production prior to the shut in.

OER owns a 42.75% non-operating interest in the Ebendo Field (OML 56).

About Oando Energy Resources Inc. (OER)

OER currently has a broad suite of producing, development and exploration assets in the Gulf of Guinea (predominantly in Nigeria) with current production of approximately 3,225 barrels of oil per day (production from 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.

Source: Oando Energy Resources Inc.

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