Oando Energy Resources Inc. has closed its acquisition from Oando Plc (Oando) of shares in Oando Qua Ibo Limited (which holds a 40% participating interest in the Qua Ibo Field) and Oando Reservoir and Production Services Limited respectively.

As was announced on March 27, 2013, OER signed binding documentation with Oando to indirectly acquire, from Oando, equity interests in Oando Qua Ibo Limited, a Nigerian company established to hold a 40% participating interest in the Qua Ibo Marginal Field within OML 13, and Oando Reservoir and Production Services Limited, a Nigerian company (collectively, the "Acquisition"). Oando currently holds 94.6% of the issued and outstanding common shares of OER.

Tags: Oando Energy Resources Inc.