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Nigerian oil firm Oando plans Canada listing

Category: Investors NewsBeat

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Nigerian oil firm Oando plans Canada listing


Wednesday November 30, 2011 9:42am

Nigerian oil firm Oando said on Wednesday it plans to list its shares on the Toronto Stock Exchange in January and it will be producing 10,000 barrels per day of oil sometime next year.

"Our primary listing is on the Nigerian stock exchange . We have a secondary listing on the Johannesburg stock exchange and as I mentioned in the future ... Our hope is to be listed on the Toronto stock exchange by early January," Pade Durotoye, head of exploration and production, said at an investor conference in the commercial-hub Lagos.

Durotoye said Oando had so far invested $250 million in its upstream oil business in Nigeria.

Source: Reuters (Reporting by Chijioke Ohoucha)

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