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OANDO PLC - Oando Energy Resources executes extention of availability period of its senior secured loan agreement for acquistion

Release Date: 10/06/2014 14:25:00      Code(s): OAO     
Oando PLC
(Incorporated in Nigeria and registered as an external company in South
External Registration number: RC 6474
Company registration number: 2005/038824/10
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
(?Oando? or the ?Company?)


CALGARY, ALBERTA June 10, 2014 ? Oando Energy Resources Inc. (?Oando Energy Resources? or
the ?Company?) (TSX: OER), a company focused on oil and gas exploration and production in
Nigeria, today announced that, further to its press release dated April 9, 2014, OER also announces
that it has extended the availability period of the US$450 million senior secured facility agreement
arranged by a group of international banks including Standard Chartered Bank (acting as Facility
Agent and Security Agent), BNP Paribas and Standard Bank of South Africa Limited (the ?RBL?) to
August 31, 2014.

The RBL is a 5.5 year facility which amortises quarterly with an annual interest rate of LIBOR plus
8.5%. Proceeds from the RBL are intended to be used to fund a portion of the purchase price for
the ConocoPhillips Acquisition.

All terms and conditions under the initial executed binding documentation remain unchanged.

The company also increased its deposit with ConocoPhilips by $25 million on May 30, 2014,
pursuant to the terms of our executed amendment agreement with ConocoPhilips dated April 30,
2014 as disclosed on April 30, 2014. OER has in total paid a $550 million deposit to ConocoPhilips
for this acquisition to date.

10 June 2014

JSE Sponsor
Macquarie First South Capital Proprietary Limited

Forward Looking Statements:

This news release contains forward-looking statements and forward-looking information within
the meaning of applicable securities laws. The use of any of the words ?expect?, ?anticipate?,
?continue?, ?estimate?, ?objective?, ?ongoing?, ?may?, ?will?, ?project?, ?should?, ?believe?, ?plans?,
?intends? and similar expressions are intended to identify forward-looking information or
statements. In particular, this news release contains forward-looking statements relating to
intended acquisitions.

Although the Company believes that the expectations and assumptions on which such forward-
looking statements and information are reasonable, undue reliance should not be placed on the
forward-looking statements and information because the Company can give no assurance that

such statements and information will prove to be correct. Since forward-looking statements and
information address future events and conditions, by their very nature they involve inherent risks
and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to: risks related to international operations,
completion of the ConocoPhillips Acquisition on the terms described or in a timely manner, the
actual results of current exploration and drilling activities, changes in project parameters as plans
continue to be refined and the future price of crude oil. Accordingly, readers should not place
undue reliance on the forward-looking statements. Readers are cautioned that the foregoing list of
factors is not exhaustive.

Additional information on these and other factors that could affect the Company?s financial results
are included in reports on file with applicable securities regulatory authorities and may be
accessed under the Company?s profile on SEDAR website (www.sedar.com). The forward-looking
statements and information contained in this news release are made as of the date hereof and the
Company undertakes no obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise, unless so required
by applicable securities laws.

Contact Information:

Pade Durotoye, CEO
Oando Energy Resources Inc.
+1 403-561-1713

Tokunboh Akindele
Head Investor Relations
Oando Energy Resources Inc.
+1 403-560-7450

Jeremy Dietz/David Feick
Investor Relations
+1 403-218-2833

Date: 10/06/2014 02:25:00 Supplied by www.sharenet.co.za                     
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