OANDO PLC - Oando energy resources targets end July for final close of the $1.65 Billon acquisition of ConocoPhillipsRelease Date: 30/06/2014 15:02:00 Code(s): OAO
(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?)
OANDO ENERGY RESOURCES TARGETS END JULY FOR FINAL CLOSE OF THE $1.65 BILLION
ACQUISITION OF CONOCOPHILLIPS NIGERIAN UPSTREAM OIL AND GAS BUSINESS
CALGARY, ALBERTA June 30, 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 the Company and ConocoPhillips have
entered into an agreement to extend the outside date for completion of the proposed
acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP)
(the ?ConocoPhillips Transaction?) to July 31, 2014.
The parties extended the outside closing date for completion of the ConocoPhillips
Acquisition to enable them finalise activities required to complete the transaction having
received the required consent of the Honourable Minister of Petroleum Resources in
30 June 2014
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
Pade Durotoye, CEO
Oando Energy Resources Inc.
Head Investor Relations
Oando Energy Resources Inc.
Jeremy Dietz/David Feick
Date: 30/06/2014 03:02:00 Supplied by www.sharenet.co.za
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