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Oando Energy Resources announces significant increase in reserves


Published Apr 10, 2015
Oando Energy Resources Inc.

Oando Energy Resources Inc. announced its 2014 year-end summary Reserves and Resources for its assets in Nigeria. The annual independent reserves and resources evaluation was undertaken by DeGolyer and MacNaughton ('D&M'), worldwide petroleum consulting group, and prepared in accordance with National Instrument 51-101 'Standards of Disclosure for Oil and Gas Activities' of the Canadian Securities Administrators and the Canadian Oil and Gas Evaluation Handbook. Reserves and other oil and gas information in this news release is effective December 31, 2014 unless otherwise stated.

Highlights

The Company has significantly increased its reserves, both Proved (1P) and Proved and Probable (2P) Reserves, as a result of technical revisions and the acquisition of the Nigerian upstream oil and gas business of ConocoPhillips Company versus the Form 51-101F1 and Form 51-101F2 filed for the year ended December 31, 2013;

Tags: Oando Energy Resources Inc.




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