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Oando Plc - Oando Energy Resources Announces Extension Of Outside Date

Release Date: 30/03/2016 11:37:00      Code(s): OAO     
Oando PLC
(Incorporated in Nigeria and registered as an external company in South Africa)
Registration number: RC 6474
(External company registration number: 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: OANDO
ISIN: NGOANDO00002


OANDO ENERGY RESOURCES ANNOUNCES EXTENSION OF OUTSIDE DATE

CALGARY, ALBERTA, MARCH 24, 2016 - Oando Energy Resources Inc. (?OER? or the ?Company?)
(TSX: OER) announces that the outside date under OER?s previously announced proposed plan of
arrangement (the ?Arrangement?) with Oando PLC and Oando E&P Holdings Limited (the ?Purchaser?)
has been extended to April 29, 2016 in order for the parties to obtain certain outstanding lender consents.

The material conditions precedent to completion of the Arrangement have been satisfied, including the
final order of the Supreme Court of British Columbia which was issued on February 26, 2016.

Full details regarding the terms of the Arrangement are set out in OER?s management information circular
dated January 19, 2016.

Copies of the arrangement agreement, the management information circular and certain related
documents have been filed with Canadian securities regulators and are available under the Company?s
profile on the Canadian SEDAR website at www.sedar.com.

About Oando Energy Resources Inc. (OER)

OER currently has a broad suite of producing, development and exploration assets in the Gulf of Guinea
(predominantly in Nigeria).
Cautionary Statement

No stock exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein.
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.
Forward-looking statements are subject to a variety of risks, uncertainties and other factors which could
cause actual events or results to differ from those expressed or implied by the forward-looking
statements, including, without limitation: the Arrangement Agreement may be terminated in certain
circumstances; general business, economic, competitive, political, regulatory and social uncertainties;
risks related to factors beyond the control of the Purchaser, Oando PLC or the Company; foreign
countries? regulatory requirements; risks related to certain directors and executive officers of the
Company possibly having interests in the Arrangement Agreement that are different from other
                                                   -2-


Shareholders; risks that other conditions to the consummation of the Arrangement are not satisfied;
global economic climate; dilution; ability to complete acquisitions; environmental risks; community and
non-governmental actions; and regulatory risks. This list is not exhaustive of the factors that may affect
any of forward-looking statements of the Company. Accordingly, readers should not place undue reliance
on the forward-looking statements.

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 through
the SEDAR website (www.sedar.com) under the Company. 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.

For further information:
Pade Durotoye,
CEO,
Oando Energy Resources Inc.,
pdurotoye@oandoenergyresources.com,
+1 403-561-1713.

Tokunboh Akindele,
Head, Investor Relations,
Oando Energy Resources Inc.,
takindele@oandoenergyresources.com,
+1 403-560-7450.

Johannesburg
3O March 2016

Sponsor: Sasfin Capital (a division of Sasfin Bank Limited)

Date: 30/03/2016 11:37:00 Supplied by www.sharenet.co.za                     
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