Oando Spuds in Nigeria

Oando Energy Resources Inc. (OER) has spud the EB-5 well in the Ebendo Field located on Nigeria’s OML 56. Drilling commenced on October 12 and to date has reached a depth of 4,000 ft. EB-5 is an appraisal well, targeted at evaluating the medium sands encountered during the recently-concluded EB-4 well drilling program.

The well is expected to reach a target depth of 10,000 ft and will enable the appraisal of any reserves that may be present in the five hydrocarbon bearing sands that were encountered while drilling the EB-4 well. The sands’ fluid contents were not conclusively determined during the drilling of EB-4, as they were not the primary targets of that drilling program.

OER holds a 42.75% non-operating interest in the Ebendo field.