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Oando Energy Resources Announces Additional 2,500 BOPD Production Capacity From Ebendo Field; Rose 20% Thursday

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Oando Energy Resources Inc. (OER.TO), a company focused on oil exploration and production in Nigeria that rose 20% Thursday, announced results from the successful completion and testing of the Ebendo 5 well. The completion and testing of the Ebendo 5 well, which is expected to contribute an additional 2,500 barrels of oil per day gross (1,069 bopd net to OER), follows the successful resumption of 3,200 bopd gross (1,368 bopd net to OER) production on the Ebendo field, as was announced on April 24, 2013. Oando yesterday also released its first quarter results.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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