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30-Oct-2018
(Official Notice)
Shareholders are advised that the Company?s Interim Results for the three and nine months ended 30 September 2018 and 2017 are now available on the Nigerian Stock Exchange website:http://www.nse.com.ng/Issuers-section/corporate-disclosures/company-results and the Company?s website: www.oandoplc.com
27-Jul-2018
(Official Notice)
The following resolutions proposed in the notice to shareholders, were unanimously passed at the 41st Annual General Meeting of the Company held at 10:00a.m Nigerian Time on Friday, 27th July 2018:



Election of Members of the Audit Committee

The following persons were elected as members of the Audit Committee for the 2018 Accounts:

- Ike Osakwe

- Mobolaji Osunsanya

- Tanimu Yakubu

- Edah Jackson

- Dr Joseph Asaolu

- Olusegun David Oguntoye



Re-appointment of Auditors

The Company re- appointed Ernst and Young as its auditors.



Fixing of Auditors? Remuneration

The Directors were authorized to fix the auditors? remuneration.



Election of Directors

The following directors, whose term expired, were elected as a Director of the Company:

- Alhaji Bukar Goni Aji with effect from January 19, 2018

- Mr Muntari Zubairu with effect from February 5, 2018



Re-election of Directors

The following directors who retired by rotation, were re-elected as Directors of the Company:

- Chief Sena Anthony;

- Mr Ike Osakwe;

- Mr Ademola Akinrele SAN



Approval of the remuneration of non-executive directors

The remuneration of the non-executive directors of the Company were fixed at NGN5 000 000 per annum for the Chairman and NGN4 000 000 each per annum for all other non-executive directors with effect from 1 January 2018; which fees are payable quarterly in arrears.
27-Jul-2018
(Official Notice)
26-Jul-2018
(C)
Revenue for the interim period increased to NGN297.3 billion (2017: NGN267 billion). Operating profit lowered to NGN13.8 billion (2017: NGN14.6 billion). Profit attributable to equity holders of the parent rose to NGN3 billion (2017: NGN0.9 billion). Furthermore, basic earnings per share grew to NGN24 kobo per share (2017: NGN7 kobo per share).



Dividends

No dividends were paid by the Company to its shareholders during the period under review.
17-Jul-2018
(Official Notice)
04-Jul-2018
(Official Notice)
Shareholders are advised that the 41st (Forty-first) Annual General Meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on Friday July 27, 2018 at the Zinnia Hall. Eko Hotels and Suites, Plot 1415, Adetokunbo Ademola Street, Victoria Island, Lagos, Nigeria to transact the business as set out in the Notice of the Annual General Meeting.



Notice of the 41st (Forty-first) Annual General Meeting is available for download from the Company`s website hosted at www.oandoplc.com
30-Apr-2018
(C)
Revenue for the year increased to NGN497.4 billion (2016: NGN455.7 billion) and operating profit turned around to NGN56.7 billion (2016: loss of NGN7.2 billion). Profit attributable to equity holders of the parent jumped to NGN13.9 billion (2016: NGN3.5 billion). Earnings per share rose to 113 kobo per share (2016: 30 kobo per share).



30-Apr-2018
(C)
Shareholders are advised that the Company?s interim results for the period ended 31 March 2018 are now available on the Nigerian Stock Exchange website www.nse.com.ng and the Company?s website www.oandoplc.com



Revenue for the quarter rose to NGN150.5 billion (2017: NGN138.3 billion) and operating profit increased to NGN14.9 billion (2017: NGN7.6 billion). Profit attributable to equity holders of the parent shot up to NGN2.2 billion (2017: NGN608 million). Furthermore, earnings per share came to 18 kobo per share (2017: 5 kobo per share).
19-Apr-2018
(Official Notice)
A two party consortium consisting of Oando , in conjunction with its midstream affiliate, Axxela Ltd. ("Axxela") (formerly known as Oando Gas - Power) and Oilserv Ltd., has been awarded the Engineering, Procurement, Construction (EPC) mandate for the Ajaokuta ? Abuja portion (Lot 1) of the Ajaokuta-Kaduna-Kano Pipeline system (the "AKK Pipeline") by the Nigerian National Petroleum Corporation ("NNPC").



The contract award follows an extensive due diligence process conducted by the NNPC following a submission by Oando and Oilserv in 2013 in response to an Expression of Interest for a contractor- financed EPC development of the AKK Pipeline Project.



The USD727 million Ajaokuta-Abuja Pipeline development is a 215km gas infrastructure with associated facilities such as Metering/Terminal Gas Station, Pigging Station, Block Valve Stations etc.



The development of the AKK grid is a manifestation of the Gas Infrastructure Blueprint in the Nigerian Gas Master Plan, which seeks to extend the existing gas transmission network and achieve connectivity between the East (gas reserves) and the North (demand centres); serve new customers in the Northern regions; and bridge the shortfall in the Western region.
12-Apr-2018
(Official Notice)
Oando shareholders are referred to the announcement released on the Stock Exchange News Service at 11h29 this morning advising the lifting of the technical suspension on the Company?s shares on it?s primary listing, the Nigerian Stock Exchange.



The JSE will accordingly lift the suspension in trade in the Company?s shares with effect from commencement of business from 13 April 2018.



Shareholders are further advised that there is no price sensitive information to be released prior to the lifting of the suspension on the JSE.
12-Apr-2018
(Official Notice)
Oando (the "company") updated its shareholders, stakeholders and the general public that the Nigerian Stock Exchange (NSE) has lifted the technical suspension placed on the company's shares on October 23, 2017, following a directive issued by the Securities and Exchange Commission (SEC).



Further to this, the impediment to price movement in the shares of the company was removed when the market opened for trading today, April 12, 2018.



The lifting of the technical suspension means that Oando shares will now experience price movements in response to competitive forces of demand and supply in line with the NSE's trading rules.



The lifting of the technical suspension by the Regulator is good news for the company and all its shareholders will restore and boost investor confidence in the market.



In addition, the forensic audit into the affairs of the company is currently underway by Deloitte Nigeria (Deloitte), the SEC appointed forensic team lead.



To date the company has been fully cooperative with both the SEC and Deloitte. In the spirit of goodwill, transparency and full disclosure, we will continue to cooperate with the SEC and its nominated parties in the discharge of their duties as the Capital Markets regulator during this exercise.



Oando is hopeful that the forensic audit will have limited impact on the day-to-day operations of the business and we look forward to a swift and smooth conclusion by the SEC.
11-Apr-2018
(Official Notice)
This is to inform the public and stakeholders that the Board of Directors of Oando held a meeting on Tuesday, April 10, 2018 and approved the 2017 Audited Financial Statements (the ?Accounts?). Oando expect to be in a position to file the Accounts by the second week in May 2018 as previously communicated.
05-Apr-2018
(Official Notice)
Oando officially commissioned its new office building, the "Wings Office Complex" on 3 April 2018. The building located at 17a Ozumba Mbadiwe Avenue, Victoria Island, Lagos was commissioned by the Minister of State for Petroleum Resources, Hon Dr Emmanuel Ibe Kachikwu.
29-Mar-2018
(Official Notice)
This is to inform the public and Oando stakeholders that the Board of Directors of Oando held a meeting on Tuesday, March 27 2018 to consider the 2017 Audited Financial Statements (the ?Accounts?). The Board Meeting was adjourned to April 10, 2018 for approval of the Accounts due to ongoing Management reviews and consultations between Oando's Auditors? local and international offices. However, the company still expects to meet the May 2018 deadline as earlier communicated to the Market for the filing of the Accounts.
13-Mar-2018
(Official Notice)
This is to inform the public and stakeholders that the Board of Directors of Oando will be meeting to consider the 2017 Audited Financial Statements of Oando on Tuesday, March 27, 2018.



In compliance with the NSE Rule Book and the Amendments to the Listing Rules, Oando hereby announces the continuation of the Closed Period for trading in the securities of the Company.



Consequently, no Director, Employee, person discharging managerial duties, adviser and Consultant of the Company and their connected persons may, directly or indirectly, deal in the shares of the Company during the Closed Period until 24 hours have elapsed after the release of the 2017 Audited Financial Statements on the Nigerian Stock Exchange.
01-Mar-2018
(Official Notice)
This is to inform our valued shareholders and key stakeholders that there will be a delay in the release of Oando PLC?s (the Company) financial results for the twelve months ended December 31, 2017.



The Financial Reporting Council of Nigeria (FRCN) has indicated interest in undertaking a more detailed review of the Company?s audited financial statements (AFS) as part of their statutory review due to the issues raised by the recent investigation of the Company by the Securities and Exchange Commission (SEC).



We envisage that the FRCN?s review might take longer than originally anticipated. Therefore, the Company may not be able to file the accounts until the second week in May, the exact date of filing will be dependent on the turnaround time at the FRCN.



Oando PLC apologizes for any inconvenience caused and will update the market in due course.

01-Feb-2018
(Official Notice)
Oando notified shareholders and other stakeholders of the appointment of Mr Muntari Muhammed Zubairu as Group Chief Corporate Services and Operations Officer. In accordance with Article 88 of the Company?s articles of association, the Board of Directors has also appointed Mr Muntari Muhammad Zubairu as an Executive Director of the Company effective February 5, 2018.



Mr Muntari Muhammad Zubairu

Mr Zubairu is a highly respected leader with 26 years progressive experience in the financial services industry. His experience and achievements cover key aspects of Banking, including International Banking, Treasury Operations, Retail, Corporate and Commercial Banking. He was until recently, a Deputy General Manager and Group Head Commercial Banking North, at Access Bank Plc. In that role, he used his experience and vast network to drive the bank?s strategy and growth in the North.



Prior to working with Access Bank, Mr Zubairu worked at various times as Group Head Retail Banking and Public Sector at First Bank (2010-2017), Group Head Commercial Banking and Divisional Head Public Sector at Diamond Bank (1998-2010), and at FSB International Bank (1995-1998) and Citibank Nigeria (1992-1995) amongst other leadership roles.



Mr Zubairu holds an MSc in Project Management from the University of Salford, an MBA from the University of Abuja and a B.Engr. Electrical Engineering from Ahmadu Bello University Zaria. He is also a member of Chartered Institute of Bankers of Nigeria, Nigerian Society of Engineers and Council for the Regulation of Engineering in Nigeria. He has also attended several Executive Management Programmes in the leading institutions including Harvard Business School, Insead Business School, Massachusetts Institute of Technology and Lagos Business School.
23-Jan-2018
(Official Notice)
Oando PLC (?Oando? or the ?Company?) hereby notifies the shareholders and other stakeholders that the Board of Directors of Oando has appointed Alhaji Bukar Aji, OON as a Non-Executive Director of the Company in accordance with Article 88 of the Company?s articles of association, effective 19 January, 2018.



22-Jan-2018
(Official Notice)
In accordance with the Companies and Allied Matters Act, Cap. C20 LFN 2004 ("CAMA") an individual or entity with direct / beneficial share ownership over 10% constitutes a substantial shareholder in the Company. The Company has been officially notified by Alhaji Dahiru Mangal ("Alhaji Mangal") that he is a substantial shareholder in the Company.



In addition to confirming his status as a substantial shareholder, all the issues raised by Alhaji Mangal in his petition to the Securities and Exchange Commission ("SEC") have been successfully addressed and clarified by the Company.



The Company has always encouraged oversight over its affairs by all shareholders. In the same vein, we have encouraged Alhaji Mangal to exercise such rights to enable him gain a better understanding of the Company's business development plans, initiatives and operations. To this end, a Peace Accord mediated by Emir Muhammadu Sanusi II (CON), the Emir of Kano was concluded on January 7, 2018.



In addition, subject to the provisions of the SEC Code, Companies and Allied Matters Act ("CAMA") and Oando's Board Appointment Process, Oando's Board of Directors will consider the appointment of representation for Alhaji Mangal to the Board. The representation will take the form of Directorship from qualified individuals nominated by Alhaji Mangal.



All Directors have a fiduciary duty to always act in the best interest of the Company and its stakeholders.
15-Dec-2017
(Official Notice)
Shareholders are advised that the Company?s official statement on the Securities and Exchange Commission?s commencement of a forensic audit into the affairs of the Company is now available on the Nigerian Stock Exchange website www.nse.com.ng and the Company?s website www.oandoplc.com.
01-Dec-2017
(Official Notice)
Oando informed the general public of the relocation of its head office effective from Monday December 4th 2017.



The Company?s new head office address is as follows:

9th ? 12th Floor, The Wings Office Complex, 17a Ozumba Mbadiwe, Victoria Island, Lagos.



The Company?s telephone numbers and email address remains unchanged.
01-Nov-2017
(Official Notice)
31-Oct-2017
(C)
Shareholders are advised that Oando?s results for the period ended 30 September 2017 are now available on the Nigerian Stock Exchange website http://www.nse.com.ng and the Company?s website www.oandoplc.com.



Revenue from continuing operations for the interim period increased to NGN383.4 billion (September 2016: NGN227.9 billion), gross profit grew to NGN71.2 billion (September 2016: NGN13.1 billion), while profit attributable to equity holders of the parent came to NGN1.1 billion (September 2016: loss of NGN37.9 million). Furthermore,earnings per share was recorded at NGN9 kobo per share (September 2016: loss of NGN315 kobo per share).

25-Oct-2017
(Official Notice)
19-Oct-2017
(Official Notice)
The Company has received communication from its primary listing, the Nigerian Stock Exchange (NSE), that the Securities and Exchange Commission (SEC) have issued a directive to immediately suspend the trading of Oando shares, a directive to which the NSE has complied.



The JSE has accordingly suspended trading of the Oando shares with effect from 09:00 a.m. SA time, pending clarification following the review of subsequent correspondence received on 18 October 2017 from the NSE and SEC and will provide a full statement of the Company?s position as soon as possible.
19-Oct-2017
(Official Notice)
The Company (?the Company? or ?Oando?) has received communication from the Nigerian Stock Exchange (NSE) that the Securities and Exchange Commission (SEC) have issued a directive to immediately suspend the trading of Oando shares, a directive to which the NSE has complied.



The Company is currently reviewing subsequent correspondence received on October 18, 2017 from the NSE and SEC and will provide a full statement of the Company?s position as soon as possible.
12-Sep-2017
(Official Notice)
Oando successfully concluded it?s 40th Annual General Meeting at the Ibom Hall in Uyo, Akwa Ibom State. At the AGM, shareholders? expressed confidence in the current management team led by the Group Chief Executive Officer, Wale Tinubu. The following resolutions proposed in the notice to shareholders, were unanimously passed:



Re-appointment of Auditors

The Company re- appointed Ernst and Young (Nigeria) as its auditors.



Fixing of Auditors? Remuneration

The Directors were authorised to fix the auditors? remuneration.



Re-election of Directors

The following directors who retired by rotation, were re-elected as Directors of the Company:

Mr. Mobolaji Osunsanya

Mr. Oghogho Akpata

Mr. Tanimu Yakubu



Election of Members of the Audit Committee

The following persons were elected as members of the Audit Committee for the 2017 Accounts:

Mr. Ike Osakwe

Chief Sena Anthony

Mr. Tanimu Yakubu

Dr. Joseph Ashaolu

Mr. Olusegun David Oguntoye

Mr. Jackson Erinevere Edah



Approval of the remuneration of non-executive directors

The remuneration of the non-executive directors of the Company was fixed at NGN5 000 000 per annum for the Chairman and NGN4 000 000 each per annum for all other non-executive directors with effect from 1 January 2017; which fees are payable quarterly in arrears.
07-Sep-2017
(Official Notice)
Further to Oando (?the company?) press statement published on Monday, 28th August, 2017 entitled ?Oando PLC?s Official Statement on Claims of a SEC Investigation?, please find below an update.

* The Securities - Exchange Commission (SEC) constituted a Special Task Team to review the petitions by Alhaji Dahiru Mangal and Ansbury Inc. To date the company has fully co- operated with the SEC, availed them of all documents requested, and provided clarification and appropriate rebuttals to the issues raised.

*The company received a letter from the SEC on Wednesday, 23 August, 2017, requesting that Oando postpone its 40th AGM so that the Commission could look into the shareholding positions contained in the company?s 2016 Audited Financial Statements as it was at variance with those alleged by the petitioners.

* Oando responded officially on Wednesday, 23 August, 2017 addressing all the issues raised by the SEC and concluded that it would not be in the best interests of the company or our shareholders to postpone the AGM.

* In a letter dated Thursday, 31 August, 2017, the SEC wrote to the company and categorically stated: ?Following the submission of an Interim report by the Special Task Team, the Commission is of the opinion that it is unable to identify any material findings that would warrant the postponement of the company?s 40th Annual General Meeting (AGM) scheduled to hold on September 11, 2017. Consequently, Oando PLC can proceed with its 40th AGM as currently scheduled.?



The SEC?s response is in line with the company?s initial position that the request from SEC that Oando postpone its AGM, which was premised upon the allegations and claims raised by the petitioners lacked merit. The reason being that the issues raised by the petitioners were fully and properly disclosed by the company in its audited financial statements and have received Board, shareholder and where required SEC approval. Other matters highlighted by the petitioners could have been directed to the company and would have received the necessary clarification. The company remains committed to act in the best interests of all its shareholders and will continue to fully co-operate with the SEC in the discharge of its duties as the Capital Markets regulator.
28-Aug-2017
(Official Notice)
15-Aug-2017
(Official Notice)
Shareholders are advised that the Company?s 40th (Fortieth) annual general meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on September 11, 2017 at The Akwa Ibom State Hall (Ibom Hall), Babangida Avenue, Uyo, Akwa Ibom State, Nigeria to transact the business as set out in the Notice of the Annual General Meeting.



The notice of the 40th (Fortieth) annual general meeting is available for download from the Company?s website at www.oandoplc.com

31-Jul-2017
(Official Notice)
28-Jul-2017
(C)
Revenue for the interim period from continuing operations more than doubled to NGN267.0 billion (NGN116.2 billion). Operating profit came in at NGN14.6 billion (loss of NGN31.8 billion). Profit attributable to equity holders of NGN941.3 million (loss of NGN27.3 billion) was recorded. Furthermore, total earnings per share were NGN7 kobo per share (loss of NGN226 kobo per share).



Dividend

No dividends were paid by the company to its shareholders during the period.
17-Jul-2017
(Official Notice)
Attention has been drawn to a report released by Channels TV on Friday the 14th day of July, 2017 stating that Oando PLC (?the company? or ?Oando?) is ??under a comprehensive investigation by the Securities and Exchange Commission?..following petitions filed by some foreign investors in Oando Nigeria PLC, in relation (sic) shareholding structure following the USD1.65 billion cash that Oando paid in June 2014 to acquire the oil production assets of Conoco-Phillips in Nigeria??.



The company understands that the SEC is in receipt of correspondence containing (in its opinion) unsubstantiated, misleading and defamatory claims with respect to various matters that had already received board, shareholder and where required SEC approval.



The company is fully co-operating with the SEC in the discharge of its duties as the capital markets regulator by providing all appropriate clarifications and rebuttals on the matters raised in the said correspondence. Oando will be happy to provide full disclosure of the outcome as soon as the SEC review is completed.



Oando's corporate communications team is always available to respond to any enquiries by members of the public and media. The company is concerned about media houses going public with information without first obtaining a balanced view as this may in some cases lead to the publication of unconfirmed, misleading and damaging information. Oando is a public listed company quoted on both the Nigerian and Johannesburg Stock Exchanges and any damaging information in the public domain could have a material impact on the company. The company therefore demand an immediate retraction of the report and urge media houses to refrain and/or desist from further publications in future, without first verifying the accuracy of such facts from Oando.
28-Apr-2017
(Official Notice)
Shareholders are advised that Oando?s interim results for the six months ended 31 March 2017 are now available on the Nigerian Stock Exchange website www.nse.com.ng and the Company?s website www.oandoplc.com.



Revenue for the quarter rose to NGN138.3 billion (2016: NGN20.5 billion). Operating profit was NGN7.6 billion (2016: loss of NGN7.9 billion). Profit attributable to equity holders of the parent lowered to NGN608 million (2016: NGN4.1 billion). Earnings per share was 5 kobo per share (2016: 35 kobo per share).
04-Apr-2017
(C)
Revenue for the year jumped to NGN455.7 billion (2015: NGN203.4 billion), operating loss came in at NGN7.7 billion (2015: profit of NGN10.4 billion), profit attributable to equity holders of the parent turned around to NGN3.1 billion (2015: loss of NGN50.4 billion), while earnings per share came in at NGN26 kobo per share (2015: loss of NGN422 kobo per share).



Dividend

No dividend was declared.
03-Apr-2017
(Official Notice)
Oando announced a delay to the publishing of its results for the year ended 31 December 2016. The Board has approved the audited Financial Statements and the company hopes to be in a position to file the accounts by close of business on Monday, 03 April 2017 subject to final regulatory approval.
20-Dec-2016
(Official Notice)
Oando PLC (referred to as ?Oando? or the ?Group?), Nigeria's leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has announced the completion of a partial divestment of 49% of the voting rights in Oando's midstream business subsidiary, Oando Gas and Power Ltd. (?OGP?), to Glover Gas - Power B.V., a special purpose vehicle owned by Helios Investment Partners LLP (?Helios?), a premier Africa-focused private investment firm.



OGP is the pioneer developer of Nigeria's foremost natural gas distribution network and has subsequently grown to become the largest private sector gas distributor in Nigeria, delivering at peak, 70 million standard cubic feet per day (?mmscf/d?) to over 175 industrial and commercial customers via a vast network of gas infrastructure.



With over 260km in pipeline infrastructure built, OGP provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Ltd. (?Gaslink?), Gas Network Services Ltd. (?GNSL?), and Central Horizon Gas Company (?CHGC?).



In May, OGP announced the development of a revolutionary mini Liquefied Natural Gas (LNG) facility via its newly-created Transit Gas Nigeria Ltd. (?TGNL?) subsidiary in Ajaokuta, Kogi State. The pioneering 20 mmscf/day liquefaction plant will aim to fulfill the gas supply requirements for captive power plants, embedded generation, and industrial clusters in the Northern region, as well as stranded customers in the South.
01-Nov-2016
(Official Notice)
31-Oct-2016
(Official Notice)
Shareholders are hereby notified of the resignation of our non-executive directors Ammuna Lawan Ali and Engr Yusuf Njie, from the Board of Directors with effect from 3 October 2016 and 31 October 2016 respectively. Their resignations became necessary due to increasing demands on their time by other interests. While on the Board, Ammuna Lawan Ali and Engr.Njie were active members of the Board and its subcommittees.

31-Oct-2016
(C)
Revenue jumped to NGN227.8 billion (2015: NGN134.8 billion), gross profit fell to NGN13.1 billion (2015: NGN35.5 billion), operating loss widened considerably to NGN41.9 billion (2015: loss of NGN8 billion), while loss attributable to equity holders of the parent lowered to NGN37.9 billion (2015: loss of NGN47.2 billion). Furthermore, loss per share came in at NGN315 kobo per share (2015: NGN442 kobo per share).
19-Sep-2016
(Official Notice)
Oando announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners LLP (?Helios?), a premier Africa-focused private investment firm, to acquire 49% of the voting rights in Oando?s midstream business subsidiary, Oando Gas and Power Ltd. (?OGP?).



The agreed transaction consideration of USD115.8 million is conditional upon the receipt of regulatory approvals and subject to customary purchase price adjustments. Upon completion, Oando will retain 49% of the voting rights in OGP. The residual 2% will be held by a local entity.



OGP is the pioneer developer of Nigeria?s foremost natural gas distribution network and has subsequently grown to become the largest private sector gas distributor in Nigeria, delivering at peak, 70 million standard cubic feet per day (?mmscf/d?) to over 175 industrial and commercial customers via its vast gas infrastructure network. With over 260km in pipeline infrastructure built, OGP provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Ltd. (?Gaslink?), Gas Network Services Ltd. (?GNSL?), and Central Horizon Gas Company (?CHGC?).
02-Aug-2016
(Official Notice)
The resolutions proposed in the notice to shareholders, were unanimously passed at the 39th Annual General Meeting of the Company held at 10:00a.m Nigerian Time on Tuesday, 2nd August 2016.

02-Aug-2016
(C)
Shareholders are advised that Oando?s interim results for the six months ended 30 June 2016 are now available on the Nigerian Stock Exchange website http://www.nse.com.ng and the Company?s website www.oandoplc.com.



Revenue for the interim period increased to NGN116.2 billion (2015: NGN90.9 billion), gross profit plummeted to NGN5 billion (2015: NGN20.7 billion), while loss attributable to equity holders of the parent narrowed to NGN27.3 billion (2015: loss of NGN34.6 million). Furthermore, loss per share lowered to NGN227 kobo per share (2015: loss of NGN324 kobo per share).
02-Aug-2016
(Official Notice)
Oando announced unaudited results for the six months period ended 30 June, 2016, with the following highlights:



Financial Highlights:

- Turnover increased by 18%, NGN212.0 billion compared to Ngn180.0billion (H1 2015)

- Gross Profit decreased by 49%, NGN19.0 billion compared to Ngn37.1 billion (H1 2015)

- Loss-After-Tax decreased by 23%, (Ngn27.0 billion) compared to (NGN35.0 billion) (H1 2015)

- One-off unrealized foreign exchange losses of NGN28.6 billion from dollar denominated liabilities as a result of currency devaluation

- Refinancing of debt through N108 billion Medium Term Note, including the conversion of a substantial portion of the dollar denominated debt into Naira.



Operational Highlights:

Upstream:

Oando Energy Resources (OER) through its 81.5% held subsidiary, Equator Exploration Ltd, successfully farmed out 65% participating interest in blocks 5 and 12 in the Exclusive Economic Zone of the Democratic Republic of Sao Tome and Principe.



Midstream:

- Oando Gas - Power achieved 55% completion of the Central Horizon Gas Company (CHGC) 8.5km pipeline expansion.

- 200% subscription of gas capacity in the 20 mmscf/day Mini LNG plant development in Ajaokuta, Kogi State.



Downstream:

- Oando PLC concluded USD210 million recapitalization and partial divestment of Oando Downstream.
18-Jul-2016
(Official Notice)
Nigeria?s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, expects to report materially lower earnings for the second quarter of 2016 due to the impact of the Naira devaluation against the US dollar (?USD?), resulting in unrealized foreign exchange losses. This announcement is based on the unaudited financial statements for the period ended 30th June 2016.



The impact of the Naira devaluation by the Central Bank of Nigeria (?CBN?) is expected to amount to an unrealized foreign exchange loss arising from USD denominated liabilities, outstanding bank trade facilities as well as vendor payables. As at the time of the devaluation the company had USD denominated borrowings of
USD261 million in our Naira dominated earnings businesses, consisting of
USD68 million in core loans, USD89 million in bank trade facilities,
USD83 million in Asset Financing and USD21 million in other payables. A circa 40% devaluation in the value of the Naira against the US dollar from the bank rate of N199.00:$1.00 to N280.00:$1.00, has effectively resulted in these significant foreign exchange losses which we have prudently booked into our financial statements.



Despite the challenging operating landscape in 2016, Oando reiterates its focus of returning the group to profitability by growing its dollar earning higher margin upstream and export trading businesses, which will not be impacted by the volatility of Foreign Exchange rates to the Naira. The company remains confident in its diversified business model and the long-term prospects for growth in Nigeria and beyond.



Further details of the group?s financial performance will be disclosed when the Half Year unaudited financial results are announced and during the subsequent results conference call.

11-Jul-2016
(Official Notice)
Shareholders are advised that the company?s 39th (Thirty?Ninth) Annual General Meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on August 2 2016 at The Landmark Centre, Plot 3-4 Water Corporation Road, Victoria Island Annex, Lagos, Nigeria to transact the business as set out in the Notice of the Annual General Meeting.



The Notice of 39th (Thirty?Ninth) Annual General Meeting is available for download from the company`s website hosted at www.oandoplc.com







11-Jul-2016
(Official Notice)
Oando notified that pursuant to article 88 of the company?s articles of association, the board of directors (?the board?) has appointed Mr Ikeme Osakwe MA (Oxon.) ACA and Mr. Ademola Akinrele SAN as non-executive directors to the board of the company effective July 8 2016.
04-Jul-2016
(Official Notice)
Oando has announced a USD210 million recapitalization of its downstream operations by HV Investments II B.V., (?HVI?), a joint venture owned by Helios Investment Partners (?Helios?), a premier Africa-focused private investment firm and the Vitol Group (?Vitol?), the world?s largest independent trader of energy commodities (together, the ?Consortium?).



As a result of this and further to the announcement on June 30, 2015, a new company will be formed to hold interests in Oando Marketing Ltd., Oando Supply - Trading Ltd., Apapa SPM Ltd., and Oando Trippmart Ltd.. Oando PLC will retain 49% shareholding in the newly formed corporate vehicle, with the Consortium owning 49%, and the residual 2% owned by a local entity.



The new company will be renamed OVH Energy (?OVH?) to reflect its ownership structure and the commitment of its new shareholders. OVH will be led by a local management team, tasked with building the business, safely and efficiently. Under the new business structure, the initial Board will consist of Mr. Wale Tinubu, Group Chief Executive of Oando Plc., as the Chairman, Mr. Christian Chammas, CEO of Vivo Energy, operating 1600 service stations across 16 African countries and other Vitol and Helios representatives. The current CEO, Mr. Yomi Awobokun, will continue in his role. The service stations will retain the Oando brand.



OVH?s assets will comprise over 350 service stations in Nigeria with supporting infrastructure, including 84,000 tonnes of storage and a newly built inbound logistics jetty; as well as complementary businesses, chiefly LPG filling and distribution, lubricants and an interest in a supply and bulk distribution company in Ghana. The new business will be the second largest downstream fuels company in Nigeria, with a market share of 12 per cent.
01-Jul-2016
(C)
Revenue for the quarter decreased to NGN27.7 billion (R30.6 billion). Gross profit fell to NGN4.9 billion (NGN13.9 billion). Operating loss came in at NGN6.0 billion (profit of NGN675.1 million). Profit attributable to equity holders turned around to NGN4.1 billion (loss of NGN20.8 billion). In addition, headline earnings per share were 34 kobo per share (loss of 229 kobo per share).
01-Jul-2016
(Official Notice)
Oando PLC (the ?Group?), Nigeria?s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced audited results for the twelve months period ended 31 December, 2015, with the following highlights:



Financial Highlights:

* Turnover decreased by 10%, N381.7 billion compared to N425.7 billion (2014)

* Gross Profit increased by 7%, N77.7 billion compared to N72.3 billion (2014)

* Loss-Before-Tax decreased to (N51) billion compared to (N138) billion (2014)

* Loss-After-Tax decreased to (N49.7) billion compared to (N145.7) billion (2014)



Operational Highlights:

Upstream:

* Oando Energy Resources (OER): 118% increase in total production to 19.9 million boe in the 2015 as compared to 9.1 million boe 2014.

* Growth in average production from 24,945 boe/day in 2014 to 54,520 boe/day in 2015.

* Oando Energy Services celebrated 5 years of continuous operations without a Lost Time Incident (LTI) on ?OES Teamwork? swamp drilling rig.

* OES celebrated 3 years of continuous operations without a Lost Time Incident (LTI) on ?OES Passion? swamp drilling rig.



Midstream:

* Oando Gas and Power commences 8.5km pipeline expansion for the Central Horizon Gas Company (CHGC)

* Oando Gas and Power signs Sales and Purchase Agreement (SPA) to sell the Akute Independent Power Plant (IPP)



Downstream:

* Oando PLC amends and restates terms of recapitalization via the injection of USD210million from Helios/Vitol JV.

* Oando Downstream increases global footprint by incorporating a trading business in Dubai.

* Oando Downstream successfully completed construction of a 14.4 million litre PMS tank in the Apapa terminal.
01-Jul-2016
(Official Notice)
Shareholders are advised that the company's Annual Report for the year ended 31 December 2015 and the 2016 Quarter 1 Management Accounts are now available on Nigerian Stock Exchange website: www.nse.com.ng and the company's website www.oandoplc.com.

07-Jun-2016
(Official Notice)
Oando (the ?Group?), Nigeria?s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, announced conclusion of a N94.6 Billion facility provided by ten leading financial institutions in Nigeria. The financing, coordinated by the mandated Lead Arranger, Access Bank Plc, is a 5 year Medium Term Note (MTN) at Nibor + 200 bps as a crucial part of our strategic restructuring plans.



The institutions involved in the financing are; Access Bank, Diamond Bank, Ecobank, FCMB, Fidelity Bank, Keystone Bank, Stanbic IBTC Bank, UBA Bank, Union Bank and Zenith Bank. The transaction further signifies the solid commitment from Nigerian banking institutions to support sustained growth and development of the Nigerian oil and gas sector in these trying times. Oando will continue to exercise strong financial discipline in meeting obligations and its debt covenants.
02-Jun-2016
(Official Notice)
This is to inform the valued shareholders and key stakeholders that there has been a further extension to the release of Oando Full Year End (FYE) 2015 Results. Additional enquiries and further engagement with our auditor, Ernst - Young (?EY?), post submission of our numbers to them have resulted in delays to the finalization of the Accounts which in turn has resulted in a delay in submitting the Accounts to the Financial Reporting Council of Nigeria (?FRCN?) for regulatory review.



Accordingly, the Company was unable to meet with the earlier communicated timeline for the submission of its Accounts of 31 May, 2016. Oando will work actively with EY and seek an accelerated approval process when the Accounts are submitted to the FRCN in order to ensure we conclude and file our Audited FYE 2015 Results on or before 30 June, 2016.
13-May-2016
(Official Notice)
03-May-2016
(Official Notice)
Oando (the ?company?) announced that the outside date under Oando?s previously announced proposed plan of arrangement (the ?Arrangement?) with Oando PLC and Oando E-P Holdings Ltd. (the ?Purchaser?) has been extended to May 31, 2016 in order for the parties to obtain the remaining outstanding lender consents.



Other material conditions precedent to completion of the Arrangement have been satisfied, including the approval of Oando?s shareholders and the final order of the Supreme Court of British Columbia.



Full details regarding the terms of the Arrangement are set out in Oando?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.
01-Apr-2016
(Official Notice)
The Management of Oando PLC would like to advise our valued shareholders, key stakeholders, and wider investor community that from available indications we are unlikely to complete our 2015 audit and issue our audited accounts on 31 March, 2016, as required by The NSE Rules (the Rules).



We have worked diligently with our external auditor, Ernst - Young (?EY?) to ensure a swift conclusion to the audit process. However, after reviewing the financials, EY indicated that the Accounts may likely need to be referred to the Financial Reporting Council of Nigeria (?FRC?) pursuant to Rule 5 of the recently publicised FRC Rules. We expect the process to be concluded on or before 31 May, 2016, however this is dependent on the completion of the external review process as referred to above.



The company's management would also like to bring to the attention of its shareholders and the investor community that the accounts of the company at FYE 2015 will be in line with its Q3 2015 performance. The expected decline is attributable to the industry?s downturn, prevalent economic headwinds, as well as fiscal and monetary restrictions driven by a challenging macro environment.



While we are actively restructuring the business to adapt to this difficult period, we are optimistic and steadfast in our commitment to return to profitability in 2016.



30-Mar-2016
(C)
30-Mar-2016
(Official Notice)
Oando announced that the outside date under OER?s previously announced proposed plan of arrangement (the ?Arrangement?) with Oando and Oando E-P Holdings Ltd. (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.
18-Mar-2016
(Official Notice)
OAO 201603180035A

Resignation of Non-Executive Director



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: UNTP

ISIN: NANDO00002NG

(?Oando? or ?the Company? or ?the Group?)



Resignation of Non-Executive Director



We also hereby notify you of the resignation of our non-

executive Director, Mr. Francesco Cuzzocrea, from the Board

of Directors with effect from February 19, 2016.



The resignation became necessary due to increasing demands

on Mr. Francesco Cuzzocrea?s time by other interests.

While on the Board, he was an active member of the Board

and its subcommittees.







March 18, 2016

JSE sponsor

Sasfin Capital (a division of Sasfin Bank Limited)



Date: 18/03/2016 03:44:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of

the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,

indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,

information disseminated through SENS.
18-Mar-2016
(Official Notice)
We also hereby notify you of the resignation of our non- executive Director, Mr. Francesco Cuzzocrea, from the Board of Directors with effect from February 19, 2016.



The resignation became necessary due to increasing demands on Mr. Francesco Cuzzocrea?s time by other interests. While on the Board, he was an active member of the Board and its subcommittees.

29-Feb-2016
(Official Notice)
Oando (the "Company") announced that at a special meeting of its shareholders held on 29 February 2016, its shareholders overwhelmingly approved the previously announced plan of arrangement (the "Plan of Arrangement") with Oando PLC and Oando E-P Holdings Ltd. (the "Purchaser"), which will culminate in the Purchaser acquiring all of the issued and outstanding common shares of Oando (the "Common Shares").



In respect of the specific voting results regarding approval of the special resolution in connection with the Plan of Arrangement, a total of 550 456 175 votes were cast by shareholders, representing 69.15% of the total issued and outstanding Common Shares. 100% of the votes cast were voted in favour of the resolution.



The Plan of Arrangement remains subject to the final approval of the Supreme Court of British Columbia at a hearing scheduled to be held on February 26, 2016 and subject to satisfaction or waiver of various other conditions specified in Oando's management information circular dated January 19, 2016. The parties have agreed to extend the outside date to March 25, 2016.



Copies of the arrangement agreement dated December 22, 2015, 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.
04-Feb-2016
(Official Notice)
23-Dec-2015
(Official Notice)
08-Dec-2015
(Official Notice)
16-Nov-2015
(Official Notice)
Shareholders are advised that the company?s 38th Annual General Meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on December 7 2015 at the Zinnia Hall, Eko Hotel and Suites, Plot 1415, Adetokunbo Ademola Street, Victoria Island, Lagos, Nigeria to transact the business as set out in the Notice of the Annual General Meeting.



The Notice of 38th Annual General Meeting is available for download from the company`s website hosted at www.oandoplc.com







16-Nov-2015
(Official Notice)
Shareholders are advised that the company?s 38th (Thirty Eighth) Annual General Meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on December 7 2014 at the Zinnia Hall, Eko Hotel and Suites, Plot 1415, Adetokunbo Ademola Street, Victoria Island, Lagos, Nigeria to transact the business as set out in the Notice of the Annual General Meeting. The Notice of 38th (Thirty Eighth) Annual General Meeting is available for download from the company's website hosted at www.oandoplc.com

27-Oct-2015
(C)
Revenue for the quarter was NGN95.8 billion. Gross profit came in at NGN41.1 billion, operating profit was NGN10.4 billion, while loss for the year was recorded as NGN24.2 billion. Furthermore, earnings per share was NGN418 kobo.
26-Oct-2015
(Official Notice)
Oando will be hosting a teleconference call for analysts and investors on Monday, 26th of October at 4pm Nigeria time / 3pm UK time/ 11am NY time/ 5pm SA time to announce Oando PLC?s FYE 2014, Q1 2015 and H1 2015 results. There will be an opportunity at the end of the call for questions. The presentation will be posted on the Oando website the morning of the teleconference call at www.oandoplc.com
26-Oct-2015
(Official Notice)
26-Oct-2015
(C)
Revenue for the year was higher at NGN60.3 billion (NGN55.7 billion). Gross profit dived to NGN23.7 billion (NGN40.8 billion). Operating loss was NGN14.4 billion (profit of NGN21.1 billion). Total comprehensive loss attributable to owners came in at NGN21.8 billion (profit of NGN11.3 billion). Ina addition, total loss per share was NGN324.75 kibo per share (earnings of NGN16.85 kibo per share).
26-Oct-2015
(C)
Revenue for the quarter was NGN33.0 billion. Gross profit came in at NGN13.4 billion. Operating loss was NGN4.0 billion. Loss attributable to equity holders of NGN20.8 billion was recorded. Furthermore, total loss per share was NGN229 kibo per share.
26-Oct-2015
(C)
Revenue for the year lowered to NGN424.7 billion (NGN449.9 billion). Gross profit rose to NGN69.2 billion (NGN59.3 billion). Operating loss was NGN139.7 billion (profit of NGN16.5 billion). Loss attributable to equity holders came in at NGN180.5 billion (profit of NGN1.4 billion). In addition, total loss per share was NGN2 076 kibo per share (earnings of NGN23 kibo per share).
07-Jul-2015
(Official Notice)
03-Jul-2015
(Official Notice)
Shareholders are hereby advised that pursuant to article 88 of the Company?s articles of association, the board of directors of Oando (?the Board?) has appointed Dr Tanimu Yakubu Muhammad as a non-executive director to the Board of the Company effective June 30 2015. A summary of his curriculum vitae is included below.



Resignation of director:

Shareholders are further notified of the resignation of non-executive director, Ms. Nana Appiah-Korang, from the Board with immediate effect.

30-Jun-2015
(Official Notice)
Oando announced that it has entered into a definitive agreement with HV Investments II B.V., (?HVI?), a joint venture owned by a fund advised by Helios Investment Partners (?Helios?) and The Vitol Group (?Vitol?), to acquire 51% of the voting rights and 60% of the economic rights in Oando?s downstream businesses (?Oando Downstream?), for circa USD276 million, conditional upon the receipt of regulatory approvals and subject to customary purchase price adjustments, including working capital (the ?Acquisition?).



The Oando downstream businesses primarily consist of:

a) Oando Marketing Plc (?OMP?), a petroleum product retailing and distribution company with over 400 retail outlets and strategically located terminals in Nigeria, Ghana and Togo. OMP distributes premium motor spirit, automotive gas oil, dual- purpose kerosene, aviation turbine kerosene, low pour fuel oil, lubricating oils, greases, bitumen and liquefied petroleum gas. Key OMP subsidiaries that are part of the Acquisition include, Oando Ghana Ltd., Oando Togo SA, and Clean Cooking Fuel Investments Ltd.

b) Oando Supply - Trading Ltd. (?OS-T?), a leading indigenous physical trader of petroleum products in the sub-Saharan region, supplying and trading crude oil and refined petroleum products. OS-T trades large volume cargoes to major oil marketers and independent marketers in Nigeria.

c) Oando Trading Ltd. (Bermuda) (?OTB?), an entity involved in the trading of crude oil and refined petroleum products in international markets.

d) Apapa SPM Ltd., the marina jetty and subsea pipeline system capable of berthing large vessels that will increase the delivery capacity and offloading efficiency of petroleum products into major petroleum marketers? storage facilities at Apapa, Lagos.

e) Ebony Oil - Gas Ltd., the Ghanaian supply and trading entity with a provisional bulk distribution company license supplying white products.



Pursuant to the Acquisition, a special purpose vehicle will hold 100% of the economic interests and 49% of the voting rights of Oando Downstream. The total consideration of USD461.3 million will be funded by a USD276.8 million cash contribution from HVI and USD184.5 million in preference shares issued to Oando Plc, subject to customary purchase price adjustments, including working capital and long-term debt. At closing, HVI will own 60% of the special purpose vehicle, while Oando Plc will hold a 40% stake.
27-May-2015
(Official Notice)
Shareholders are referred to the announcements released on SENS on 02 December 2014, 21 January 2015, 27 January 2015, 04 February 2015 and 23 April 2015, respectively, and are advised of the result of the rights issue of 2 956 353 579 ordinary shares of 50 kobo each at NGN 16.50 per share on the basis of one (1) new ordinary share for every three (3) ordinary shares of 50 kobo each held (the ?Rights Issue?).



* With respect to the rights circular dated 13 November, 2014, and in accordance with the revised terms of the Rights Issue, a total of 1 460 acceptances (including applications for additional shares) for 2 949 933 156 ordinary shares of 50 kobo each were received in connection with the Rights Issue.

* Due to the revision of the Rights Issue terms from 2 217 265 184 ordinary shares of 50 kobo each at NGN22.00 per share on the basis of one (1) new ordinary share for every four (4) existing ordinary shares to 2 956 353 579 ordinary shares of 50 kobo each at NGN16.50 per share on the basis of one (1) new ordinary share for every three (3) existing ordinary shares, the surplus amount on the subscription monies received totals NGN7 870.50 in Nigeria and ZAR38.70 in South Africa.

* All 1 460 acceptances received were found to be valid under the terms of the Rights Issue and were all processed and duly allotted.

* The Rights Issue was therefore 99.78% subscribed.



For shareholders whose names appear on the Register of Members and transfer books of the Company which are maintained in South Africa:

* Surplus subscription monies arising from the revision of the Rights Issue terms will be dispatched from the designated escrow account.

* Shares allotted will be issued and distributed through Computershare Investor Services (Pty) Ltd. in accordance with the relevant laws and practices of the Republic of South Africa.



The CSDP/broker accounts of those shareholders whose names appear on the register of members and transfer books of the Company which are maintained in South Africa will be credited with the Rights Issue and Excess Rights Issue shares on or about Friday, 19 June 2015, subject to the receipt of all requisite regulatory approvals. The listing of Rights Issue and Excess Rights Issue shares and trading of such shares will commence at 09h00 on or about Friday, 19 June 2015 and trade may not take place in these shares until the date of listing.
04-May-2015
(Official Notice)
23-Apr-2015
(Official Notice)
Shareholders on the South African register of Oando (?Shareholders?) are referred to the announcement published on the Stock Exchange News Service of the JSE Ltd. dated 4 February 2015 (?the Announcement?) regarding the revised terms and dates of the Oando Rights Issue (?the Rights Issue?).



Further to the publication of the Announcement, Shareholders are hereby advised that the allotment and listing of the Rights Issue shares is still subject to the receipt of the Nigerian Securities and Exchange Commission?s (?Nigerian SEC?) clearance of the allotment proposal. Accordingly, the dates set out in the Announcement are no longer applicable.



Shareholders will be advised of the new dates/information relating to the allotment of shares as well as listing and trading thereof as soon as the Nigerian SEC?s clearance of the allotment proposal has been obtained.
09-Apr-2015
(Official Notice)
02-Apr-2015
(C)
The following results were reported in USD and are incomparable to the 2013 figures reported in NGN. Revenue for the year came in at USD421.4 million. Comprehensive loss attributable to owners was USD316.5 million. In addition, loss per share of USD53cps was recorded.
09-Mar-2015
(Official Notice)
Oando, a company focused on oil and gas exploration and production in Nigeria, announced the completion of all civil and pipeline works associated with the Qua Iboe field, and associated crude delivery and sales infrastructure, with commercial production at 2,150 boepd Gross.



Oando holds a 40% working interest in the field. In its capacity as technical services provider, Oando, together with the operator and 60% owner, Network Exploration and Production Nigeria Ltd. (?NEPN?), brought the field from conceptualisation, through development, to first oil delivery. The commercial oil production from the field?s reservoirs has now commenced at an initial rate of 2,150boepd gross to the partners. The crude processing facility was commissioned in the fourth quarter of 2014 but commercial production was delayed until the completion of the associated cluster crude delivery and sales infrastructure into the Qua Iboe Terminal.



The Company identified the asset in 2012 and an agreement was reached with NEPN for Oando to technically lead and fund certain aspects of NEPN?s costs until first oil. Consequently, post recovery of all loan repayments, Oando is entitled to 90% of NEPN?s sales proceeds from its 60% share of crude oil production until NEPN?s obligation is paid in full, with Oando earning an additional 10% fee on the funded amount.



Qua Iboe is located at the mouth of the Qua Iboe River in the eastern Niger Delta and covers an area of 14 km2 (3,459 acres). The field is immediately adjacent to the ExxonMobil Qua Iboe Terminal.
04-Mar-2015
(Official Notice)
Oando (the ?company?) (TSX: OER), a company focused on oil and gas exploration and production in Nigeria, announced a USD238 Million prepayment of certain loan facilities, which it utilized for the USD1.5 Billion acquisition of the ConocoPhillips Nigerian Oil and Gas Business in July, 2014.



The company successfully realized USD234 Million by resetting its crude oil hedge floor price from an average of USD95.35 per barrel to USD65.00 per barrel on 10 615 bbls/day for the next 18 months and another 1 553 bbls/day for a further 18 months until January 2019.



The proceeds from the hedge unwind/reset (in addition to USD4 Million from cash in hand) were applied to prepay certain loan facilities as detailed below:

* USD188 Million applied to the USD415 Million in the Reserves Base Lending facility, resulting in a balance of USD227 Million.

* USD51 Million applied to the USD338 Million in the Corporate Facility, resulting in a balance of USD287 Million.



ConocoPhillips acquisition date of July 30, 2014, OER had a total debt of approximately USD900 Million (inclusive of a USD100 Million structured facility provided by Afrexim). After taking account of previous amortizations and the hedge-related prepayment, the total debt of OER currently stands at USD615 Million.
04-Feb-2015
(Official Notice)
27-Jan-2015
(Official Notice)
21-Jan-2015
(Official Notice)
South African Oando shareholders (?Shareholders?) are referred to the announcement published on the Stock Exchange News Service of the JSE Ltd. (?SENS?) on Tuesday, 2 December 2014 (?Announcement?).



The Announcement set out information regarding the rights issue of 2,217,265,184 ordinary shares of 50 kobo each at NGN22.00 (ZAR1.3138) per rights issue share on the basis of one (1) new ordinary share for every four (4) ordinary shares of 50 kobo each held as at the close of business on Friday, 25 July 2014, for those shareholders in Nigeria whose names appeared on the Register of Members and transfer books of the Company and shareholders in South Africa whose names appeared on the Register of Members and transfer books as at the close of business on Friday, 19 December 2014, which was the business day prior to the rights issue opening date of Monday, 22 December 2014, for South African shareholders (?Rights Issue").



The Rights Issue closed at 12h00 on Friday, 9 January 2015, in South Africa while the Rights Issue was expected to close on Wednesday, 14 January 2015 in Nigeria. An application was made to the Nigerian Securities - Exchange Commission to extend the closing date of the acceptance list in Nigeria. This request was approved and therefore the Rights Issue will now close on Wednesday, 28 January 2015 in Nigeria.



In the event that there is additional information regarding the Rights Issue, same will be communicated to Shareholders.
08-Dec-2014
(Official Notice)
Oando is pleased to announce the appointment of Sasfin Capital, a division of Sasfin Bank Ltd. (?Sasfin?) as JSE sponsor to Oando with effect from 8 December 2014.



Sasfin?s established presence means that it will be able to provide a comprehensive service to Oando going forward.

05-Dec-2014
(Official Notice)
Oando Energy Resources Inc. (OER or the Company) (TSX: OER), a company focused on oil and gas exploration and production in Nigeria, today is pleased to announce the completion of the 45,000bbls/d, 51km Umugini pipeline. The pipeline will provide an alternative evacuation route for crude oil produced from the Ebendo Field through the Trans Forcados export pipeline. Following the successful drilling of Ebendo wells 5, 6, and 7 over the past 12 months, oil production capacity within OML 56 has grown to 7,140boepd gross for OER and Energia Limited the operator of the asset (3,052boepd net to OER). However, export had been constrained at 3,093boepd (1,322boepd OER Share) via the Agip operated Kwale-Brass NAOC/JV infrastructure, in which OER currently has a 20% interest through the recent $1.5Bn acquisition of ConocoPhillips Nigerian Oil - Gas Business. The completion and commencement of operations on the Umugini pipeline ensures that the Ebendo field can now produce at its full capacity.
02-Dec-2014
(Official Notice)
28-Nov-2014
(Official Notice)
Shareholders are referred to the announcement released on SENS on Thursday, 13 November 2014 in which the Company advised that the board of directors of the Company has declared a NGN0.70kobo (Seventy Kobo) per share dividend to holders of ordinary shares whose names appear in the Company?s register of members of Nigeria as at close of business on 17 November 2014 and for members of South Africa as at close of business on Friday, 12 December 2014. The dividend will be paid on Monday, 15 December 2014, and will be subject to Nigerian withholding tax of 10%.



Shareholders are advised that the currency conversion at close of business (CAT) on Thursday, 27 November 2014 was 0.0627 South African Rand = 1 Naira. Accordingly, the dividend equates to South African cents per ordinary share as follows:

Kobo - South African cents

* 70 - 4.389

* 63 - 3.9501 - Excluding 10% Nigerian Tax

* 59.5 - 3.73065 - Excluding 15% South African Dividend Tax.
27-Nov-2014
(Official Notice)
Oando will be hosting a teleconference call for analysts and investors on Thursday, 27th of November at 3pm Nigeria time / 2pm UK time/ 9am NY time/ 4pm SA time to announce Oando PLC's YTD September 2014 results. There will be an opportunity at the end of the call for questions.



The teleconference call facility can be accessed by dialing:

*Nigeria - National (*0 for operator) -- +234 (0)1903 0040

*Other Countries - International -- +27 11 535 3600

*Other Countries - International -- +27 10 201 6800

*South Africa - Toll-Free -- +27 0800 200 648

*UK - Toll-Free -- +44 0808 162 4061

*USA and Canada - Toll Free -- +1 855 481 5362

*France - Toll Free (*0 for Operator) -- +33 (0) 800 902 688

*Germany - Toll Free (*0 for Operator) -- +49 (0) 800 181 6340

*Ghana - National (*0 for Operator) -- +233 (0) 24 242 6003

*Kenya - National (*0 for operator) -- +254 (0) 207 602 021



Participants would be asked for their Full Name, Company name



Participants should call at least ten minutes before the start of the presentation.



For those who are unable to listen to the live call, a replay will be made available on the company website after the call.



The presentation will be posted on the Oando website the morning of the teleconference call at www.oandoplc.com
17-Nov-2014
(C)
Revenue for the quarter decreased to NGN338.1 billion (NGN386.3 billion). Gross profit increased to NGN79.6 billion (NGN46.7 billion). Operating profit jumped to NGN36.3 billion (NGN18.4 billion). Profit attributable to equity holders rose to NGN11.2 billion (NGN5.6 billion). Furthermore, earnings per share grew to NGN126 kobo per share (93 kobo per share).
13-Nov-2014
(Official Notice)
12-Nov-2014
(Official Notice)
Shareholders are advised that the board of directors of the Company has declared a NGN0.70kobo (Seventy Kobo) per share interim dividend to holders of ordinary shares whose names appear in the Company?s register of members of Nigeria as at close of business on 17 November 2014, and for members of South Africa as at close of business on Friday, 12 December 2014. The interim dividend will be paid on Monday, 15 December 2014, and will be subject to Nigerian withholding tax of 10%. Accordingly, the following information is provided in respect of the interim dividend to South African shareholders:



A gross interim dividend of NGN0.70kobo (Seventy Kobo) per share has been declared. A Nigerian withholding tax of 10% is payable on the interim dividend by all shareholders. Accordingly the interim dividend net of withholding tax is NGN0.63kobo (Sixty-three Kobo) per ordinary share.



South African shareholders who are not exempt from South African interim Dividend Withholding Tax (?dividend tax?) will be required to pay the 15% dividend tax less the 10% Nigerian withholding tax making the net dividend payable to those shareholders of NGN0.595kobo (fifty nine and a half Kobo) per ordinary share.



The issued share capital of Oando at the declaration date is 9,084,693,738 ordinary shares. In order to comply with the requirements of Strate the relevant details are as follows:

*Currency conversion calculated at close of business in South Africa on Thursday, 27 November 2014

*Finalisation date of interim dividend Friday, 28 November 2014

*Last day to trade cum interim dividend Friday, 5 December 2014

*Ordinary shares commence trading ex interim dividend Monday, 8 December 2014

*Record date (date shareholders recorded in books) Friday, 12 December 2014

*Payment date Monday, 15 December 2014

31-Oct-2014
(Official Notice)
Shareholders are referred to the announcement released on SENS on Monday, 27 October 2014 in which the Company advised that at the 37th Annual General Meeting of Oando held at 10:00 Nigerian Time on 27 October 2014, shareholders of the Company approved the declaration and payment of a NGN0.30kobo (Thirty Kobo) per share dividend to holders of ordinary shares whose names appear in the Company's register of members of Nigeria as at close of business on 30 September 2014 and for members of South Africa as at close of business on Friday, 14 November 2014. The dividend will be paid on 17 November 2014, and will be subject to Nigerian withholding tax of 10%.



Shareholders are advised that the currency conversion at close of business (CAT) on 30 October 2014 was ZAR0.0657 = NGN1. Accordingly, the dividend equates to South African cents per ordinary share as follows:

Kobo - South African cents

* 30 - 1.971
27-Oct-2014
(Official Notice)
Shareholders are advised that at the 37th Annual General Meeting of Oando held at 10:00 Nigerian Time on 27 October 2014, shareholders of the Company approved the declaration and payment of a NGN0.30kobo (Thirty Kobo) per share dividend to holders of ordinary shares whose names appear in the Company's register of members of Nigeria as at close of business on 30 September 2014 and for members of South Africa as at close of business on Friday, 14 November 2014. The dividend will be paid on 17 November 2014, and will be subject to Nigerian withholding tax of 10%.



Accordingly, the following finalisation information is provided in respect of the dividend to South African shareholders: A gross dividend of NGN0.30kobo (Thirty Kobo) per share has been declared. A Nigerian withholding tax of 10% is payable on the dividend by all shareholders. Accordingly the dividend net of withholding tax is NGN0.27kobo (Twenty-seven Kobo) per ordinary share.



South African shareholders who are not exempt from South African Dividend Withholding Tax ("dividend tax") will be required to pay the 15% dividend tax less the 10% Nigerian withholding tax making the net dividend payable to those shareholders of NGN0.255kobo ([Twenty-five and a half Kobo) per ordinary share. The issued share capital of Oando at the finalisation date is 8 869 068 738 ordinary shares.



In order to comply with the requirements of Strate the relevant details are as follows:

* Currency conversion calculated at close of business in South Africa on Thursday, 30 October

* Finalisation date of dividend : Friday, 31 October

* Last day to trade cum dividend : Friday, 7 November

* Ordinary shares commence trading ex dividend : Monday, 10 November

* Record date (date shareholders recorded in books): Friday, 14 November

* Payment date : Monday, 17 November.
27-Oct-2014
(Official Notice)
The following resolutions proposed in the notice to shareholders, were unanimously passed at the 37th Annual General Meeting of the Company held at 10:00a.m Nigerian Time on Monday, 27 October 2014:



Dividend Payment

The shareholders approved the payment of NGN0.30kobo (Thirty Kobo) per share as dividend. The dividend will be paid on or before 17 November 2014 subject to Nigerian withholding tax of 10%, where applicable.



Election of members of the audit committee

The following persons were elected as members of the Audit Committee for the 2014 Accounts:

- Ammuna Lawan Ali

- Chief Sena Anthony

- Mr. Francesco Cuzzocrea

- Mr. Fidelis Opia Ijoma

- Alhaji Lateef Ayodeji Shonubi

- Mrs. Funmilayo Temilade Durojaiye



Appointment of new Auditors

The Company appointed Ernst and Young (Nigeria) as its auditors.



Fixing of Auditors' remuneration

The directors were authorised to fix the auditors' remuneration.



Re-election of Director

The following director, whose term expired, was re-elected as a Director of the Company with effect from 25 July 2013:

- Francesco Cuzzocrea



Re-election of Directors

The following directors who retired by rotation, were re-elected as Directors of the Company:

- Ammuna Lawan Ali, OON;

- Mobolaji Osunsanya; and

- Engr. Yusuf Kebba Jarga N?jie



Approval of the remuneration of non-executive directors

The remuneration of the non-executive directors of the Company was fixed at NGN5 000 000 per annum for the Chairman and NGN4 000 000 each per annum for all other non-executive directors with effect from 1 January 2014; which fees are payable quarterly in arrears.



Authorisation of directors

That further to the approval of shareholders given at the 32nd Annual General Meeting held on 30 July 2009, the board of directors of the Company be and are hereby authorized to reorganize and/or divest any and/or all of the Company's shareholding and investments in the downstream business by way of sale, transfer and/or any other form of disposition, which the directors resolve to be in the best interest of the Company subject to the approvals of relevant regulatory authorities . The board of directors of the Company be and are hereby authorized to appoint such professional advisers and other parties to the contemplated transactions and perform all such other acts and do all such other things as may be necessary for and/or incidental to effecting the above. resolutions.
29-Sep-2014
(Official Notice)
Teleconference Call: Financial Year Ended 2013, First Quarter 2014, First Half 2014 Financial Results



Oando will be hosting a teleconference call for analysts and investors on Tuesday, 30th of September at 3pm Nigeria time / 3pm UK time/ 10am NY time/ 4pm SA time to announce Oando PLC?s FYE 2013, Q1 2014 and H1 2014 results. There will be an opportunity at the end of the call for questions.



The teleconference call facility can be accessed by dialing:

*Nigeria - National (*0 for operator) - 01903 0040

*Other Countries - International - +27 11 535 3600

*Other Countries - International - +27 10 201 6800

*South Africa - Johannesburg Neotel - 011 535 3600

*South Africa - Johannesburg Telkom - 010 201 6800

*South Africa - Toll-Free - 0 800 200 648

*UK - Toll-Free - 0808 162 4061

*USA and Canada - Toll Free - 1 855 481 5362



Participants would be asked for their Full Name, Company name Participants should call at least ten minutes before the start of the presentation. For those who are unable to listen to the live call, a replay will be made available on the company website after the call. The presentation will be posted on the Oando website the morning of the teleconference call at www.oandoplc.com



26-Sep-2014
(Official Notice)
Shareholders are advised that the Company?s 37th (Thirty- Seventh) Annual General Meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on Monday, 27 October 2014 at The Shell Nigeria Hall, The Muson Center, 8/9 Marina, Onikan, Lagos State Nigeria, to transact the business as set out in the Notice of the Annual General Meeting. The Notice of the 37th (Thirty-Seventh) Annual General Meeting is available for download from the Company`s website hosted at www.oandoplc.com
23-Sep-2014
(C)
Turnover decreased to NGN194.6 billion (NGN280.3 billion) whilst gross profit was higher at NGN50.5 billion (NGN30.2 billion). Operating profit soared to NGN23.7 billion (NGN9.7 billion). Profit attributable to equity holders rose to NGN10.9 billion (NGN4.0 billion). Furthermore, basic earnings per share increased to NGN123 kibo per share (NGN66 kibo per share).



Dividend

Interim dividend of NGN70 kibo per share was declared by Oando for the period.
23-Sep-2014
(C)
Turnover decreased to NGN85.3 billion (NGN121.1 billion) whilst gross profit increased to NGN14.5 billion (NGN13 billion). Operating profit fell to NGN4.7 billion (NGN5.8 billion). Loss attributable to equity holders dropped to NGN2.3 billion (profit of NGN2.4 billion). Furthermore, basic loss per share tumbled to NGN26 kibo per share (basic earnings per share NGN106 kibo per share).
23-Sep-2014
(C)
Turnover decreased to NGN449.9 billion (NGN650.6 billion) whilst gross profit was lower at NGN59.3 billion (NGN69.9 billion). Operating profit fell to NGN16.5 billion (NGN24.4 billion). Profit for the year dropped to NGN1.4 billion (NGN10.8 billion). Furthermore, basic earnings per share tumbled to NGN23 kibo per share (NGN407 kibo per share).
08-Sep-2014
(Official Notice)
Oando Energy Resources Inc. ("OER" or the "Company") (TSX:OER), a company focused on oil and gas exploration and production in Nigeria, today announced that a wholly-owned subsidiary of Oando PLC, has filed a Form 45-102F1 on SEDAR as Project No. 2257775 to provide the required notice of its intention to sell up to 60,000,000 common shares of OER (OER Shares) through the facilities of the Toronto Stock Exchange. The Company has been informed by Oando PLC that the proposed sales are intended to encourage market liquidity.



OER has been informed by Oando PLC that, including the securities held by the above-mentioned subsidiary, it currently has direct and indirect ownership of 746,107,838 OER Shares, representing approximately 93.8% of the currently outstanding OER Shares. Assuming exercise of the 216,282,884 common share purchase warrants issued to Oando PLC on February 26, 2014 (the February Warrants), the 75,037,928 common share purchase warrants issued to Oando PLC?s subsidiary on July 9, 2014 (the July Warrants) and the 34,072,057 common share purchase warrants issued to Oando PLC on August 20, 2014 (the August Warrants), Oando PLC would beneficially own and exercise control over 1,071,500,707 OER Shares, representing approximately 95.6% of the issued and outstanding OER Shares following such exercise; however, under the terms of the February Warrants, July Warrants and August Warrants, Oando PLC is restricted from exercising any February Warrants, July Warrants and August Warrants to the extent that such conversion would result in its direct and indirect ownership of OER exceeding 94.6%.
22-Aug-2014
(Official Notice)
18-Aug-2014
(Official Notice)
30-Jul-2014
(Official Notice)
14-Jul-2014
(Official Notice)
Oando (the "company") (TSX: OER), a company focused on oil and gas exploration and production in Nigeria, announced that it has completed the acquisition of Medal Oil Company Ltd. ("Medal Oil"). The purchase price of USD5 000 000 was satisfied by the issuance of 3 491 082 units, each unit consisting of one common share of the company and one-half of one warrant to purchase an additional common share at a price of CAD2.00 per common share for a period of 24 months from the date on which the company closes the acquisition of the Nigerian upstream oil and gas business of ConocoPhillips the ("CoP Acquisition"). Medal Oil holds a 5% interest in OML 131. Upon completion of the CoP Acquisition, OER will own a 100% interest in OML 131.
10-Jul-2014
(Official Notice)
30-Jun-2014
(Official Notice)
Oando (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 Nigeria.
18-Jun-2014
(Official Notice)
Oando Energy Resources Inc., a company focused on oil and gas exploration and production in Nigeria, today announced receipt of the consent of the Honourable Minister of Petroleum Resources of Nigeria for the acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) for a total cash consideration of USD1.65 Billion subject to customary adjustments (the ConocoPhillips Transaction). Further to the receipt of consent of the Honourable Minister of Petroleum Resources, OER and ConocoPhillips are now positioned to complete the ConocoPhillips Transaction. OER will now work with ConocoPhillips towards completing the acquisition by the long stop date of June 30, 2014 or shortly thereafter.
10-Jun-2014
(Official Notice)
Oando Energy Resources ("OER") announced that, further to its press release dated 9 April 2014, OER also announces that it has extended the availability period of the USD450 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 Ltd. (the "RBL") to 31 August 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 USD25 million on 30 May 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 USD550 million deposit to ConocoPhilips for this acquisition to date.
02-May-2014
(Official Notice)
Oando Energy Resources Inc. ("Oando Energy Resources", a company focused on oil and gas exploration and production in Nigeria, announced that the outside date for completion of the proposed acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) (the "ConocoPhillips Acquisition") has been extended to 30 June 2014.



Pursuant to an amendment agreement executed on 30 April 2014, Oando Energy Resources and ConocoPhillips agreed to extend the outside date for completion of the ConocoPhillips Acquisition from 30 April 2014 to June 30, 2014 to enable the companies to satisfy all closing conditions including the anticipated consent of the Honourable Minister of Petroleum Resources in Nigeria. OER has agreed to increasing its deposit by USD25 million on 30 May 2014, if the consent of the Honourable Minister of Petroleum Resources is not received on or before May 23, 2014.
22-Apr-2014
(Official Notice)
Oando announced that, further to its press release dated 28 March 2014, the Company has paid a previously agreed upon deposit of USD25 million for the extension of the outside completion date for the acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP). The USD25 million deposit was required to be paid following the inability of the parties to obtain the consent of the Honourable Minister of Petroleum Resources in Nigeria prior to 11 April 2014.
10-Apr-2014
(Official Notice)
Oando (the "company"), a company focused on oil and gas exploration and production in Nigeria, announced that, further to its press release dated January 31, 2014, it has extended the availability period of the USD450 million senior secured facility agreement (the "RBL") for the acquisition of ConocoPhillips' Nigerian Upstream Oil and Gas Business to May 31, 2014. The RBL was arranged by a group of Nigerian and international banks, including Standard Chartered Bank (acting as Facility Agent and Security Agent), BNP Paribas and Standard Bank of South Africa Ltd.



The RBL is a 5.5 year facility which amortises quarterly with an annual interest rate of LIBOR plus 8.5%.



All terms and conditions under the initial executed binding documentation remain unchanged.
03-Apr-2014
(Official Notice)
Oando announced that it has completed the sale of the entire issued share capital of one of its wholly owned subsidiaries, East Horizon Gas Company Ltd. ("EHGC") to Seven Energy International Ltd. ("Seven Energy") for a total gross consideration (the "Consideration") of up to USD250 Million. The Consideration consist of:

* An initial payment of USD100 Million in cash;

* The assumption by Seven Energy of existing liabilities of EHGC, including approximately USD62 Million of bank indebtedness; and

* The balance in deferred payments due on achievement of certain operational and contractual conditions. It is expected that these conditions will be satisfied during the course of 2014.

EHGC is a special purpose vehicle operating a 128km, 120mmscfd, 18-inch natural gas transmission and distribution pipeline traversing the Akwa Ibom and Cross River States. EHGC also has a gas sales agreement to supply up to 25 mmscfpd, increasing to 50 mmscfpd in 2016, under a 20 year "take-or-pay" agreement expiring in 2032.
28-Mar-2014
(Official Notice)
Oando Energy Resources Inc., a company focused on oil and gas exploration and production in Nigeria, today announced that, further to its press releases dated December 20, 2012, September 16, 2013, November 28, 2013, January 31, 2014, and March 3, 2014, the outside date for completion of the proposed acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) (the ConocoPhillips Acquisition) has been extended to April 30, 2014.



Pursuant to an amendment agreement executed on March 27 2014, Oando Energy Resources and ConocoPhillips agreed to extend the outside date for completion of the ConocoPhillips Acquisition from March 31, 2014 to April 30, 2014 to enable the companies to satisfy all closing conditions including the anticipated consent of the Honourable Minister of Petroleum Resources in Nigeria. In consideration of this extension OER has consented to increasing its deposit by USD25 million on April 17, 2014, if the consent of the Honourable Minister of Petroleum Resources is not received on or before April 11, 2014.





03-Mar-2014
(Official Notice)
Oando Energy Resources Inc ("Oando Energy Resources") announced that, further to its press releases dated December 20, 2012, September 16, 2013, November 28, 2013 and January 31, 2014, the outside date for completion of the proposed acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) (the "ConocoPhillips Acquisition") has been extended to March 31, 2014.



Pursuant to an amendment agreement executed with ConocoPhillips on February 28 2014, Oando Energy Resources and ConocoPhillips agreed, amongst other things, to extend the outside date for completion of the ConocoPhillips Acquisition from February 28, 2014 to March 31, 2014 to enable the companies to satisfy all closing conditions including the anticipated consent of the Honourable Minister of Petroleum Resources in Nigeria.
18-Feb-2014
(Official Notice)
03-Feb-2014
(Official Notice)
Oando Energy Resources Inc., a company focused on oil and gas exploration and production in Nigeria, today announced that, further to its press releases dated December 20, 2012, September 16, 2013 and November 28, 2013, it has, subject to, amongst other things, TSX approval, secured funding for the closure of the acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) (the ConocoPhillips Acquisition).



The company currently estimates that the net purchase price payable to complete the ConocoPhillips Acquisition will be approximately US$1.05 billion (after deducting payment of the USD450 million deposit previously paid, an additional USD50 million to be paid and giving effect to expected adjustments as of the Outside Date) (Net Purchase Price). Oando Energy Resources expects to fund payment of the Net Purchase Price using:

*funds from the corporate facility and reserve-based loan agreement with third party lenders, as announced today January 31, 2014;

*proceeds from the proposed private placement of units of the Company, subject to approval by the Toronto Stock Exchange (TSX), as announced on January 28, 2014; and

*a convertible loan from Oando Plc, the 94.6% shareholder of the Company, subject to, amongst other things, TSX approval.



Pursuant to an amendment agreement executed with ConocoPhillips earlier today, Oando Energy Resources and ConocoPhillips agreed to extend the outside date for completion of the ConocoPhillips Acquisition from January 31, 2014 to February 28, 2014 (Outside Date). As part of this agreement, OER will pay an additional USD50 million towards the Acquisition for a total total deposit of USD500 million. Closing of the ConocoPhillips Acquisition remains subject to satisfaction of closing conditions, including the anticipated consent of the Honourable Minister of Petroleum Resources in Nigeria.
03-Feb-2014
(Official Notice)
30-Jan-2014
(Official Notice)
Oando announced that it intends to complete a private placement (the "Offering") for proceeds of USD50 000 000. In addition, in connection with the Offering, OER intends to acquire a 5% interest in OML 131 in exchange for common shares of the Company (the "OML 131 Acquisition").



The Offering

The Offering is expected to consist of 35 070 063 common shares of the Company (the "Common Shares") and 17 535 031 common share purchase warrants (the "Warrants") for gross proceeds of USD50 000 000 (each Common Share and half- Warrant, a "Unit") at a price of CAD1.57 per Unit. Each whole Warrant will entitle the holder thereof to acquire one common share of the Company at a price of CAD2.00 per common share for a period of 24 months from the date of the closing of the COP Acquisition (as defined below). If, after a period of six months from the closing of the COP Acquisition, the common shares of the Company trade on the Toronto Stock Exchange ("TSX") at a price greater than CAD3.50 for a period of at least ten consecutive trading days, the Warrants will expire on the date which is 30 days following the last day of such ten consecutive trading days.



Closing of the Offering is subject to receipt of applicable regulatory approvals, including approval of the TSX. The issue price of the Units represents approximately an 11% discount on the market price of the Common Shares on the date the TSX received the Company?s request for price protection. Securities issued will be subject to a hold period, which will expire four months plus one day from the date of closing of the Offering.



It is anticipated that the proceeds of the Offering will be used by the Company to satisfy a portion of the purchase price for the proposed acquisition by the Company of the Nigerian upstream oil and gas business of ConocoPhillips (the "COP Acquisition"). The Offering has been negotiated at arm?s length. Should OER elect to issue Common Shares to Oando Plc, the 94.6% shareholder of the Company, prior to or concurrent with the closing of the Offering as repayment of all or a part of a convertible loan outstanding to Oando Plc, the Offering is not expected to affect control of the Company and no new insiders are expected to be created as a result of the Offering.
29-Jan-2014
(Official Notice)
Oando, Nigeria's leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, announced its plans to hold an extra-ordinary general meeting on Tuesday, 18th of February, 2014 to consider, and if thought fit, pass the following resolutions:

*That on the recommendation of the directors and in accordance with Article 46 of the Articles of Association of the company, the Authorized Share Capital of the company be and is hereby increased from NGN5 000 000 000 (Five Billion Naira) to NGN7 500 000 000 (Seven Billion, Five Hundred Million Naira).

*The amendment of Clause 6 of the Memorandum of Association and Article 3 of the Articles of Association respectively to reflect the new authorized share capital of NGN7 500 000 000 (Seven Billion, Five Hundred Million Naira) divided into 15 000 000 000 (Fifteen Billion) Ordinary Shares of NGN50 Kobo each.

*The authorization to raise further capital of up to NGN50 000 000 000 (Fifty Billion Naira) through an offer by way of rights issue.

*The authorization to raise additional capital of up to NGN200 000 000 000 (Two Hundred Billion Naira) whether by way of a public offering, private/special placement, rights issue or other methods.
28-Jan-2014
(Official Notice)
Shareholders are advised that the company's extra-ordinary general meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on Tuesday February 18 2014 at The Incubator, 7/8 Chief Abiodun Yusuf Road, Oniru, Victoria Island, Lagos, Lagos State Nigeria, to transact the business as set out in the notice of the extra-ordinary general meeting.



The notice of extra-ordinary general meeting is available for download from the company's website hosted at www.oandoplc.com
27-Dec-2013
(Official Notice)
Oando announced the execution of a Share Purchase Agreement ("SPA") with Seven Energy International Ltd. ("Seven Energy") for the sale of the entire issued share capital of one of its wholly owned subsidiaries, East Horizon Gas Company Ltd. ("EHGC") for a total gross consideration of USD250 Million adjusted for net liabilities.



EHGC is a special purpose vehicle operating a 128km, 120mmscf, 18-inch natural gas transmission and distribution pipeline (?the Pipeline?) traversing the Akwa Ibom and Cross River States. EHGC also has a gas sales agreement to supply up to 25 MMcfpd, increasing to 50 MMcfpd in 2016, under a 20 year "take-or-pay" agreement expiring in 2032.
17-Dec-2013
(Official Notice)
02-Dec-2013
(Official Notice)
18-Nov-2013
(Official Notice)
Oando will be hosting a teleconference call for analysts and investors on Tuesday, 19 November 2013, at 3pm Nigeria time /2pm UK time/9am NY time/4pm SA time to announce Oando's year to date September 2013 unaudited results for the nine months ended 30 September 2013. There will be an opportunity at the end of the call for questions. The teleconference call facility can be accessed by dialing:

*South Africa free call -- 0 800 980 512

*Participants would be asked for their full name, company name and Password: Oando



Participants should call at least ten minutes before the start of the presentation. For those who are unable to listen to the live call, a replay will be made available on the company website after the call. The presentation will be posted on the Oando website the morning of the teleconference call at www.oandoplc.com
15-Nov-2013
(C)
Turnover decreased to NGN386.3 billion (NGN487.8 billion) whilst gross profit was lower at NGN46.7 billion (NGN53.1 billion). Operating profit fell to NGN18.4 billion (NGN25.0 billion). Profit attributable to equity holders dropped to NGN5.6 billion (NGN9.2 billion). Furthermore, basic earnings per share tumbled to NGN93 kibo per share (NGN397 kibo per share).
20-Sep-2013
(Official Notice)
Oando Plc will be hosting a teleconference call for analysts and investors today, Friday, 20 September 2013 at 4pm Nigeria time /4pm UK time/11am NY time/5pm SA time on the false allegations currently circulating in the media. There will be an opportunity at the end of the call for questions. Press Releases with regards the above topic can be viewed on the company website: www.oandoplc.com



The teleconference call facility for the call can be accessed by dialing:



*UK Standard International +44 (0) 20 3003 2666

*UK Free call 0808 109 0700

*USA Free call 1 866 966 5335

*South Africa Free Call 0800 980 512



Participants would be asked for their Full Name, Company name and Password (below)



Password :Oando



Participants should call at least ten minutes before the start of the call. For those who are unable to listen to the live call, a replay will be made available on the company website after the call.

19-Sep-2013
(Official Notice)
Oando, Nigeria's leading indigenous energy group listed on both the Nigerian Stock Exchange and the JSE Ltd., stated that the company is in no way part of the confiscation proceedings nor has the group received any invitation to attend or participate in any capacity. There is no suggestion from the prosecution of any wrongdoing or involvement by Oando.



In a bid to protect Oando's reputation and the interests of its shareholders, partners and stakeholders the group believes it is necessary that it responds to all such allegations and present the facts as and when pertinent.



On the Wednesday 18th September 2013 in the said proceedings in UK, the Crown Prosecution presented the following evidence as proof of Mr Ibori's alleged 30% ownership in Oando.

*Mr Ibori's own statement to that effect as proof of his legitimate earnings when he attempted to open a bank account in Europe;

*A statement attributed to Mr Ibori's lawyer that, Mgr. Ibori "-had a beneficial ownership related to a company called Ocean and Oil.";

*A statement from a foreign bank wherein it was stated "-.that the Ibori family had a 30% share in Oando; and

*The oral evidence by the Prosecution Witness Detective Constable Clark that Ocean and Oil Ltd and Oando are "-the same company but under a different name."



Ibori at no time in the history of Oando's existence owned nor held a 30% stake in the company, today Ibori owns just 443 shares, an insignificant stake for a company with an issued share capital of 6.8 billion ordinary shares and a current market capitalization of N63.6 billion.



Oando cannot be held responsible for how a person represents themselves: The group can only be held responsible for actions taken by the company and personnel within the organisation.



The contradictory evidence of the Prosecution does not establish Ibori's claim and the shareholding register of Oando destroys it.



As this statement alludes to the group's shareholding in 2004, Oando has requested that the company's registrar (First Registrars Nigeria Ltd.) provide a list dating back to 2004, highlighting our top 20 shareholders.



The group has been forthcoming and honest in relation to these allegations and will continue to do so.



Oando reiterates its commitment to the principles and implementation of good corporate governance, and recognizes the dependence of long-term business prosperity on accountability to its shareholders.
17-Sep-2013
(Official Notice)
Oando announced that it has entered into an agreement with ConocoPhillips (NYSE: COP) to acquire ConocoPhillips's affiliate Phillips (Brass) Ltd. ("PBL"), which holds ConocoPhillips' interest in the Brass LNG Project to Oando, for approximately USD105 million plus customary adjustments.



PBL holds ConocoPhillips's 17% shareholding interest in Brass LNG Ltd., which is developing the Brass LNG project, a Greenfield project to develop a two-train, 10 million ton Liquefied Natural Gas ("LNG") facility in Bayelsa State, Nigeria. The other partners are NNPC (49%); Eni (17%) and Total (17%). Pursuant to the Proposed Acquisition, Oando PLC will indirectly purchase all of the issued share capital of PBL. Upon closing, the effective date of the Proposed Acquisition will be 1 January 2012.



Closing of the Proposed Acquisition is subject to customary conditions including the receipt (or waiver, in accordance with the Sale and Purchase Agreement) of all approvals or consents from any governmental authority if any; and the waiver or non-exercise of rights of first refusal, if any with respect to the shares to be acquired by Oando, and the assets underlying such shares.
17-Sep-2013
(Official Notice)
Oando refuted statements circulating in the media and categorically states that Mr James Ibori does not own "a large part of Oando" and that this statement is incorrect and misleading. Oando is a publicly traded company listed on the Nigerian and Johannesburg Stock Exchanges and does not and cannot control the trading in its securities on the floor of the respective exchanges. Based on the current shareholding register, Mr James Ibori's shareholding stands at 443 shares out of a total issued and paid up share capital of 6.8 billion ordinary shares, which is clearly insignificant, and cannot be considered as "a large part of Oando".



Oando also states that sometime in 2004, in the normal course of its business, it sold approximately USD2.7 million in 3 separate transactions over a period of about 7 months to companies indirectly controlled by Mr. James Ibori. This amount was insignificant considering the company?s turnover of approximately USD800million in 2004. The above constitutes the only transactions between Oando and any company controlled by Mr. Ibori. Consequently, Oando cannot be described as a company where James Ibori has hidden assets as a result of these foreign exchange transactions. Oando is not a party to the confiscation proceedings nor has it received any invitation to attend or participate in any capacity therein. There is no suggestion from the prosecution of any wrongdoing or involvement in wrongdoing on the part of Oando.



Commenting on the statements made in court, Andrew Baillie QC, counsel representing Oando also stated outside the courtroom: "It is unfortunate that our client has been dragged into these proceedings. There is no suggestion from the prosecution of any wrongdoing or involvement in wrongdoing on the part of Oando". Oando is devoted to the principles and implementation of good corporate governance, and recognises the dependence of long-term business prosperity on accountability to its shareholders. Oando is also the first Nigerian energy company to sign the Pact Against Corruption Initiative and the Convention for Business Integrity.
16-Aug-2013
(Official Notice)
The following results are in Naria and therefore are incomparable to the corresponding results which are in US dollars. The company will issue results in US dollars at a later stage. Turnover was NGN280.3 million whilst operating profit was NGN9.7 million. Profit attributable to equity holders was NGN4.0 million.
01-Aug-2013
(Official Notice)
Shareholders are referred to the announcement released on SENS on Monday, 29 July 2013 in which the company advised that at the 36th Annual General Meeting of Oando held at 10:00 Nigerian Time on 25 July 2013, shareholders of the company approved the declaration and payment of a NGN75 kobo per share dividend to holders of ordinary shares whose names appear in the company's register of members of Nigeria as at close of business on the 5th July 2013 and for members on the South African register as at close of business on the 8th of August 2013. The dividend will be paid on or about the 30th of August 2013 subject to Nigerian withholding tax of 10%.



Shareholders are advised that the currency conversion at close of business (CAT) on 31 July 2013 was 0.0617 ZAR= 1NGN. Accordingly, the dividend equates to South African cents per ordinary share as follows:

* NGN75 kobo - ZAR4.62750 cents.
29-Jul-2013
(Official Notice)
The board of directors appointed Francesco Cuzzocrea as a non-executive director to the board of the company effective 25 July 2013.
29-Jul-2013
(Official Notice)
The following resolutions proposed in the notice to shareholders, were unanimously passed at the 36th Annual General Meeting of the Company held at 10:00a.m Nigerian Time on Thursday, 25 July 2013:



Dividend Payment

The shareholders approved payment of NGN75 kobo (Seventy- five Kobo) per share. The dividend will be paid on or before the 30th of August 2013 subject to Nigerian withholding tax of 10%, where applicable.



Election of members of the audit committee

The following persons were elected as members of the Audit Committee for the 2013 Accounts:

* Mr. Oghogho Akpata;

* Chief Sena Anthony;

* Ammuna Lawan Ali;

* Mr. Kabir Babatunde Sarumi;

* Mr. Lateef Ayodeji Shonubi; and

* Mr. Fidelis Opia Ijoma.



Re-appointment of Auditors

The company re-appointed PricewaterhouseCoopers (PWC) as its auditors.



Fixing of Auditors' remuneration

The directors were authorised to fix the auditors? remuneration.



Re-election of Directors

The following directors who retired by rotation, were re- elected as Directors of the Company:

* HRM Michael Adedotun Gbadebo, CFR,

* Mr. Olufemi Adeyemo; and

* Chief Sena Anthony.



Approval of the remuneration of non-executive directors

The remuneration of the non-executive directors of the Company were fixed at NGN5 000 000.00 per annum for the Chairman and NGN4 000 000.00 each per annum for all other non-executive directors with effect from 1 January 2013; which fees are payable quarterly in arrears.
29-Jul-2013
(Official Notice)
Shareholders are advised that at the 36th annual general meeting of Oando held at 10:00 Nigerian Time on 25 July 2013, shareholders of the company approved the declaration and payment of a 75kobo (Seventy-five Kobo) per share dividend to holders of ordinary shares whose names appear in the company's register of members of Nigeria as at close of business on the 5th July 2013 and for members of South Africa as at close of business on the 8th of August 2013. The dividend will be paid on or about the 30th of August 2013 subject to Nigerian withholding tax of 10%.



Accordingly, the following finalisation information is provided in respect of the dividend to South African shareholders: The gross dividend of NGN75 kobo per share has been declared. Shareholders are advised that a Nigerian withholding tax of 10% is payable by all shareholders on the dividend. Accordingly the dividend net of withholding tax is NGN67.5 kobo per ordinary share. South African shareholders who are not exempt from South African Dividend Withholding Tax ("dividend tax") will be required to pay the 15% dividend tax less the 10% Nigerian withholding tax making the net dividend payable to those shareholders of NGN63.75 kobo per ordinary share.



The issued share capital of Oando at the finalisation date is 6 822 354 414 ordinary shares. In order to comply with the requirements of Strate the relevant details are as follows:

* Finalisation date of dividend: Friday, 26 July 2013

* Currency conversion calculated at close of business in South Africa on Wednesday, 31 July 2013

* Last day to trade cum dividend: Thursday, 1 August 2013

* Ordinary shares commence trading ex dividend: Friday,2 August 2013

* Record date (date shareholders recorded in books): Thursday, 8 August 2013

* Payment date: Friday, 30 August 2013.
01-Jul-2013
(Official Notice)
Shareholders were advised that the company's 36th (Thirty-Six) Annual General Meeting will be held at 10:00 am West Africa Time (11:00am Central African Time) on Thursday, 25 July 2013 at The Incubator, 7/8 Chief Abiodun Yusuf Road, Oniru, Victoria Island, Lagos, Lagos State Nigeria, to transact the business as set out in the Notice of the Annual General Meeting. The Notice of 36th (Thirty-Six) Annual General Meeting is available for download from the company's website hosted at www.oandoplc.com.
27-Jun-2013
(Official Notice)
Oando will be hosting a teleconference call for analysts and investors on Friday, 28 June 2013 at 3pm Nigeria time /3pm United Kingdom time/10am New York time/4pm South African time to announce Oando's Financial Year Ended 2012 audited results for the twelve months ended 31 December, 2012 and Quarter 1, 2013 unaudited results for the three months ended 31 March 2013. There will be an opportunity at the end of the call for questions.



The teleconference call facility can be accessed by dialing the following:

*UK Standard -- +44 (0) 20 3003 2666

International

*UK Free call -- +44 (0) 808 109 0700

*USA Free call -- +1 866 966 5335

*South Africa Free -- +27 (0) 800 980 512



Call

Participants would be asked for their full name, company name and password (below)

*Password: Oando



Participants should call at least ten minutes before the start of the presentation.



For those who are unable to listen to the live call, a replay will be made available on the company website after the call.



The presentation will be posted on the Oando website the morning of the call at www.oandoplc.com
25-Jun-2013
(Official Notice)
Shareholders were advised that Oando has released company and group Consolidated Statements of Comprehensive Income for the Year Ended 31 December 2012, of Financial Position as of 31 December 2012, and of Cash Flows for the Period Ended 31 December 2012 to the Nigerian Stock Exchange. Detailed audited results for the full year ended 31 December 2012, including commentary, is anticipated to be released on SENS in due course.
24-Jun-2013
(Official Notice)
The following resolution proposed in the notice to shareholders, was unanimously passed at the Extra-Ordinary General Meeting of Oando held at The Incubator, 7/8 Chief Yusuf Abiodun Road, Oniru, Victoria Island, Lagos, Lagos State at 10.00 a.m Nigerian Time on Monday, 24 June 2013:

* That on the recommendation of the directors and pursuant to Article 7 of the Company?s Articles of Association, the shareholders hereby authorise the directors to raise additional capital through the issuance of not more than 2,046,706,324 ordinary shares of 50 kobo each, at NGN15.00 per share by way of a Special/Private Placement subject to regulatory approvals.
11-Jun-2013
(Official Notice)
Oando shareholders are referred to the announcements released on SENS on 21 December 2012, 5 February 2013, 8 February 2013, 20 February 2013 and 21 May 2013 respectively, and are advised that the Rights Issue Shares together with the Excess Rights Issue Shares, as allotted, will be listed on the Main Board of JSE and commence trading from commencement of market open, on Wednesday 12 June 2013.
27-May-2013
(Official Notice)
Shareholders are advised that the company's extra-ordinary general meeting will be held at 10:00 am West Africa Time (11:00 am Central African Time) on Monday, June 24 2013 at The Incubator, 7/8 Chief Abiodun Yusuf Road, Oniru, Victoria Island, Lagos, Lagos State Nigeria, to transact the business as set out in the notice of the extra-ordinary general meeting. The notice of extra-ordinary general meeting is available for download from the company's website hosted at www.oandoplc.com
21-May-2013
(Official Notice)
21-Feb-2013
(Official Notice)
Shareholders were referred to the announcements released on the Stock Exchange News Service ("SENS') on 21 December 2012, 5 and 8 February 2013 respectively, and were advised that the Rights Issue of 4 548 236 276 ordinary shares of NGN50 kobo each at NGN12.00 per share on the basis of two (2) new ordinary shares for every one (1) ordinary share of 50 kobo each held (the "Rights Issue"), closed yesterday, 20 February 2013.



The expected date for allotment of the Excess Rights Issue shares will be on or about Wednesday, 24 April 2013.
08-Feb-2013
(Official Notice)
Shareholders are referred to the extension announcement released on SENS on 5 February 2013, informing shareholders that the closing date of the proposed Rights Issue of 4 548 236 276 ordinary shares of 50 kobo each at NGN 12.00 per share on the basis of two (2) new ordinary shares for every one ordinary share of 50 kobo each held (the "Rights Issue"), had been extended from Wednesday, 6 February 2013 to Wednesday, 20 February 2013, and to the revised timetable set out therein. The following in respect of the timetable is clarified below:



The expected date for allotment of the Excess Rights Issue shares will be on or about Wednesday, 24 April 2013. Shareholders who have applied for either or both the Rights Issue and the Excess Rights Issue shares should make payment in respect of the relevant shares on Wednesday, 20 February 2013, to be held in escrow until the listing and issuing of the Rights Issue shares and Excess Rights Issue shares anticipated to take place on or about Wednesday, 5 June 2013. This applies to certificated shareholders as well as dematerialised shareholders.
05-Feb-2013
(Official Notice)
03-Jan-2013
(Official Notice)
Oando shareholders are referred to the finalisation announcement released on SENS on Friday, 21 December 2012 and published in the South African press on Thursday, 3 January 2013 relating to the proposed rights issue of 4 548 236 276 ordinary shares of 50 kobo each at NGN12.00 (ZAR0.6468) per share on the basis of two new ordinary share for every one ordinary share of 50 kobo each held as at the close of business on Friday, 19 October 2012 for those shareholders in Nigeria whose names appear on the Register of Members and transfer books of the Company and shareholders in South Africa whose names appear on the Register of Members and transfer books as at the close of business on Friday, 4 January 2013, being the business day prior to the offer opening date, for South African shareholders (the "Rights Issue").



South African shareholders are advised that the Rights Issue circular has been posted to shareholders today, and that an electronic version of the Rights Issue circular may be obtained from Oando's website (www.oandoplc.com). In addition, hard copies of the Rights Issue circular may be obtained from Friday, 4 January 2013 to Friday, 6 February 2013 from the Company's transfer secretaries.
28-Dec-2012
(Official Notice)
Oando opened its Rights Issue to raise NGN54.6 billion through the issuance of 4 548 236 276 ordinary shares of 50 Kobo at NGN12.00 per share. On the basis of two new ordinary shares for every ordinary share of 50 Kobo each held as at the close of business on Friday, 19 October 2012 for those shareholders whose names appear on the Register of Members and transfer books of the Company which are maintained in Nigeria and shareholders whose names appear on the Register of Members and transfer books of the Company which are maintained in South Africa as at the close of business on the Friday prior to the issue opening date, 4 January 2013.



The Rights Issue exercise will open on Friday, 28 December, 2012 on the JSE, and close on Wednesday, 6 February, 2013 The proceeds from the Rights issue will be used for the following:

* Part-repayment of NGN60 billion syndicated loan used to fund the acquisition of upstream assets and swamp drilling rigs.

* Part-financing of acquisition of upstream and midstream assets by Oando's Upstream subsidiary, Oando Energy Resources ("OER").

* Investment in working capital to support increased level of business.
21-Dec-2012
(Official Notice)
21-Dec-2012
(Official Notice)
21-Dec-2012
(Official Notice)
20-Dec-2012
(Official Notice)
Oando (referred to as the "group"), Nigeria's leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today announced its plans to commence its Rights Issue exercise.



The company received regulatory approval for its Rights Issue from the Securities - Exchange Commission ("SEC") on the 12th December 2012 and held its Completion Board Meeting on the 19th December 2012. Oando plans to raise NGN54 578 835 312 through the issuance of 4 548 236 276 ordinary shares of 50 Kobo at NGN12.00 per share. The Rights Issue exercise will open on Friday, 28 December, 2012 and close on Wednesday, 6 February, 2013. Vetiva Capital Management Ltd. is the Lead Issuing House, with FBN Capital Ltd. and FCMB Capital Markets Ltd. will act as Joint Issuing Houses.



The proceeds from the Rights issue will be used for the following:

*Part-repayment of NGN60 billion syndicated loan used to fund the acquisition of upstream assets and swamp drilling rigs.

*Part-financing of acquisition of upstream and midstream assets by Oando's Upstream subsidiary, Oando Energy Resources ("OER").

*Investment in working capital to support increased level of business.
30-Oct-2012
(Official Notice)
Oando will be hosting a teleconference call for analysts and investors on Tuesday, 30th October 2012 at 3pm Nigeria time /2pm UK time/10am NY time/4pm SA time to announce Oando's Year To Date September 2012 results for the nine months ended 30 September 2012. There will be an opportunity at the end of the call for questions.
29-Oct-2012
(C)
Oando published results for the nine months to 30 September 2012. Revenue amounted to USD3.1 billion. Gross profit was USD326.3 million and an operating profit of USD161.2 million was recorded. Net attributable profit came in at USD59.7 million.



Dividend

No dividend has been declared.
16-Oct-2012
(Official Notice)
Oando at its extra-ordinary general meeting ("EGM") convened on Friday 12 October, 2012, withdrew all resolutions proposed thereat for deliberation (the "resolutions") due to the uncertain nature of the underlying transactions to which they relate.



The company has adjourned the EGM, to a time in which it can readily disclose the additional information regarding the transactions underlying the resolutions. Oando Management is currently unable to disclose the necessary information in respect of relevant potential corporate actions due to counterparty confidentiality considerations, and as a result of the relevant potential transactions being at different stages of maturity, some currently awaiting regulatory approval.



The company had expected that before the date of the EGM the potential transactions would have progressed to a sufficient stage of maturity to allow management to provide fulsome disclosure to all shareholders, and ensure an informed decision making process prior to and at the EGM. Unfortunately, due to extensive negotiations around, and the documentation of, these potential transactions, the company is not yet in a position to provide such disclosure.
26-Sep-2012
(Official Notice)
Oando (referred to as "Oando" or the "group"), Nigeria's leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, today, 26 September 2012, announced its intentions to raise NGN35 billion through a Rights Issue.



Oando plans to raise NGN35 billion through a Rights Issue and this will constitute one of the key steps in the group's strategy to re-inforce its balance sheet, reduce debt, strengthen its long term financing capacity, whilst placing Oando in a position to better execute its Upstream growth aspirations.



The Offer is expected to commence in the fourth quarter and is subject to approval of the Securities - Exchange Commission.
20-Sep-2012
(Official Notice)
Shareholders are advised that the company's extra-ordinary general meeting will be held at 10:00am West Africa Time (11:00am Central African Time) on Friday, October 12 2012 at The Incubator, 7/8 Chief Abiodun Yusuf Road, Oniru, Victoria Island, Lagos, Lagos State Nigeria, to transact the business as set out in the Notice of the extra-ordinary general meeting. The notice of extra-ordinary general meeting is available for download from the company's website hosted at www.oandoplc.com.
15-Aug-2012
(Official Notice)
Oando shareholders were referred to the announcement released on Monday, 13 August 2012, by Oando Energy Resources Inc., an affiliate company of Oando. The announcement has been extracted below for ease of shareholders' reference:



"Oando Energy Resources Inc. ("OER" or the "company") (TSX:OER), a company focused on oil exploration and production in Nigeria, today announced initial drilling results from the fourth well drilled in the Ebendo Marginal Field, OML-56 (previously known as Obodeti/Obodugwa) . The EB-4 well was spud on 24 March 2012 and was drilled to a total depth (TD) of 12 120ft measured depth (MD) on June 11th, 2012. The well, which was intended to appraise the updip portion of the structure, encountered eight new hydrocarbon bearing sands over an interval from 9 667ft to 11 182ft, each with individual reservoir thicknesses of between 21ft and 110ft. These sands were in addition to the producing sand target previously encountered in the first well (EB-1).



The deepest of the newly appraised sands, contained in Level XXa, was perforated and tested. The well flowed over 950bopd of 49 degree API oil during a well flow test using a 24/64' adjustable choke. Further well tests will be conducted over the next few days on the next sand (Level XIX). Level XIX was the primary target for the well, as it was the only identified producing sand from the single producing well in the field. These test results may not necessarily be indicative of the well?s long- term performance or of ultimate recovery.



The company intends to complete the EB-4 well as a Dual String producer prior to commencing drilling on the EB-5 well, which is intended to appraise the shallow hydrocarbon bearing sands encountered in EB-4. OER has a 42.7 % Non-Operating interest in the Ebendo Marginal field."
25-Jul-2012
(Official Notice)
Shareholders of Oando are advised that a press release relating to the completion of its acquisition of equity interests in certain entities in the upstream exploration and production division of Oando (the "Acquisition") and certain related matters (collectively, the "Restructuring")(the "Release"). The Release is available for download from the company's website hosted at www.oandoplc.com.
20-Jul-2012
(Official Notice)
The resolutions proposed in the notice to shareholders were unanimously passed at the annual general meeting of the company held at Shell Nigeria Hall, The Muson Centre, 8/9 Marina, Onikan, Lagos State at 10:00, on 20 June 2012.
19-Jul-2012
(Official Notice)
Revenue increased by 27% to USD2.3 billion from USD1.8 billion (2011) during the corresponding period. Gross profit declined 9% to USD199.6 million (2011: USD219.7 million). An operating profit of USD92.5 million was recorded and profit for the period fell marginally to USD42.5 million (2011: USD44.2 million).



Dividend

No dividend was declared for the period under review.
19-Jul-2012
(Official Notice)
28-Jun-2012
(Official Notice)
Further to Oando's audited financial statements for the year ended 31 December 2011, released on 21 May 2012 on SENS, shareholders are advised that the company's annual general meeting will be held at 10:00 am West African Time (11:00 am Central African Time) on Friday, 20 July 2012, at Shell Nigeria Hall, The Muson Centre, 8/9 Marina, Onikan, Lagos, Lagos State Nigeria, to transact the business as set out in the notice of the annual general meeting. The notice of annual general meeting is available for download from the company's website hosted at www.oandoplc.com.
23-May-2012
(C)
Revenue for the quarter ended 31 March 2012 increased to USD1 billion (2011: USD761.3 million). Gross profit fell to USD96.8 million (2011: USD104.7 million), while operating profit lowered to USD42.6 million (2011: USD52 million). Furthermore, profit for period year decreased to USD19.5 million (2011: USD21.2 million).
21-May-2012
(Official Notice)
Shareholders are advised that the following announcement for the audited financial statements for the year ended 31 December 2011, which has been prepared in terms of the Nigerian Accounting Standards and the Companies and Allied Matters Act, 2004, was released on the Nigerian Stock Exchange on 21 May, 2012. The audited financial statements prepared in terms of International Financial Reporting Standards will be announced in due course.
10-Apr-2012
(Official Notice)
Oando provided a profit and loss forecast for the second quarter ending 30 June 2012. The company forecasts turnover USD1.2 billion, operating profit of USD72 million and profit after tax of USD22 million.
10-Apr-2012
(Official Notice)
Oando advised shareholders of relevant information affecting its financial year ended (FYE) 2011 results. Following the preliminary review of the group's final accounts for the year ended 31 December 2011, the company expects to announce a decrease in its budgeted profit forecast for the year. The decrease is driven principally by one-off write-offs which include impairments of assets, project expenses from capital raising exercises, acquisitions, and termination of technical and managerial charges. The underlying performance indicators for the period are in line with management's 2011 projections and the company's 2011 FYE audited accounts will be released on or around 10 May 2012.



Barring any unforeseen circumstances, management does not anticipate any further similar exceptional items in 2012, and following these actions, affirms that the group's balance sheet and capital are in a robust position, providing a solid foundation for the group's future growth path. The group remains focused and dedicated on delivering on its promise to shareholders on value creation, and looks forward to an improved earnings position for the year 2012, with the addition of the earnings from the newly commissioned assets. Management will be hosting a conference call at 3pm (GMT +1) (4pm Central African time, GMT +2) on 10 April 2012, to discuss the contents of this announcement. Conference call details are available on the company's website hosted at www.oandoplc.com.
28-Oct-2011
(Official Notice)
The board of directors (the "Board") appointed Engr. Yusuf K. J. N'jie and Ammuna Lawan Ali as independent, non-executive directors to the board of Oando effective Thursday, October 20, 2011.
26-Oct-2011
(Official Notice)
Oando provided its earnings forecast for the fourth quarter ending 31 December 2011:

All figures in USD 'millions

* Turnover: 813

* Cost of sales: (688)

* Direct contribution: 125

* Operating expenses: (59)

* Other operating income/charges: 4

* Operating profit: 70

* Interest payable - similar charges: (9)

* Depreciation: (15)

* Profit before tax: 46

* Provision for tax: (22)

* Profit after tax: 24.
25-Oct-2011
(C)
13-Oct-2011
(Official Notice)
16-Sep-2011
(Official Notice)
Shareholders are referred to the announcements released on the Securities Exchange News Service on 5 April 2011 and Friday, 01 July 2011 respectively, regarding the declaration of a bonus issue of ordinary shares and are advised that the bonus issue as approved by shareholders at the annual general meeting held on Thursday, 30 June 2011, was registered by the Nigerian Securities and Exchange Commission on Monday, 12 September 2011. The declared bonus shares issued at the rate of one ordinary share of fifty kobo for every four ordinary shares of fifty kobo each held as April 30, 2011 will be issued and listed on the Nigerian Stock Exchange and the JSE Limited on or about Wednesday, 21 September 2011.



Shareholders' accounts with Central Securities Depository Participants and brokers will be credited in South Africa with bonus shares or issue of new share certificates in respect of the bonus issue on the same day, being Wednesday, 21 September 2011. Shareholders are advised that they may not trade in their new bonus shares until they have been issued.



Rounding principle

The allocation of bonus shares will be such that shareholders will not be allocated a fraction of a bonus share and therefore any bonus share giving rise to a fraction of less than one of a bonus share will be rounded down to the nearest whole number. This is applicable to investors on both the Nigerian and South African share register.

02-Aug-2011
(Official Notice)
Oando and Exile Resources Inc. ("Exile") (TSXV:ERI) announced that they have entered into a term sheet dated July 28, 2011 providing for, subject to the completion of satisfactory due diligence by both parties and other conditions, the acquisition (the "Acquisition") by Exile of certain interests of Oando in respect of Oil Mining Leases and Oil Prospecting Licenses (the "Upstream Assets") in exchange for 100 000 000 post- consolidation common shares in the capital of Exile ("Shares").



Oando's interests in the Oil Mining Leases and Oil Prospecting Licenses are held through direct and indirect subsidiaries located in Nigeria. The Oil Mining Leases and Oil Prospecting Licenses are a combination of producing, development and appraisal and exploration assets and are in respect of oil fields located in onshore and offshore Nigeria (including the Niger Delta), the Nigeria Sao Tome and Principe Joint Development Zone ("JDZ") and the Exclusive Economic Zone ("EEZ") of Sao Tome and Principe.



The parties have agreed to negotiate exclusively with each other in good faith and use their reasonable efforts to negotiate a definitive agreement to give effect to the Acquisition (the "Definitive Agreement") on or prior to September 30, 2011. The manner in which the Acquisition will be completed will be determined after each party has had an opportunity to complete its due diligence and consider all applicable tax, securities and other laws. As a condition precedent to signing the Definitive Agreement, Oando shall be satisfied that the Acquisition is structured to ensure that:

* each of the Nigerian assets/companies comprising the Upstream Assets maintains its status as an indigenous Nigerian company under Nigerian law in order to maintain and/or secure indigenous fiscal terms and any other policies and laws applicable to indigenous companies; and

* Oando achieves an optimal result having regard to tax and regulatory concerns of Oando.
28-Jul-2011
(C)
28-Jul-2011
(Official Notice)
Shareholders are advised of the resignation of Major General M. Magoro (Rtd), PSC,OFR, as the non-executive chairman of Oando and from the board of directors of Oando, with immediate effect. The resignation of General Magoro as the non-executive chairman and a director of the board follows as a result of him recently having attained the age of 70 years, and also of having been elected a senator of the federal republic of Nigeria.



The board has appointed HRM. Oba Michael Adedotun Gbadebo, to fill the role of non-executive Chairman of Oando with immediate effect. Shareholders are also advised of the resignation of Ms Amal Pepple, CFR as a director of the Company following her appointment as Minister for Lands, Housing and Urban Development of the Federal Republic of Nigeria. To this end, the Company has engaged the services of KPMG Professional Services (Executive Selection - Training Services) to indentify and conclude the selection of independent Directors for the Company by the end of the year.



Shareholders are also advised that the chairman of the board has received and accepted the resignation of Mrs. Oredeji Delano as the company secretary of Oando, with effect from 27 September 2011. Ms. Ayotola Jagun will succeed Mrs. Delano as company secretary of the company with effect from 28 September 2011.

26-Jul-2011
(Official Notice)
In terms of the Listings Requirements and Rules governing the Company's listing on the Nigerian Stock Exchange, Oando is pleased to provide the following earnings forecast for the third quarter ending 30 September 2011:

Q3 2011 Forecast

All figures in USD 'millions'

Turnover : 830

Cost of sales : (715)

Direct contribution: 114

Operating expenses: (58)

Other operating income/charges: 5

Operating profit: 61

Interest payable - similar charges: (11)

Depreciation: (15)

Profit before tax: 35

Provision for tax: (16)

Profit after tax: 20

The earnings forecast are prepared in compliance with Nigerian Statement of Accounting Standards (SAS) translated to US Dollars (USD). The earnings forecast reported in this announcement has neither been reviewed nor reported on by the auditors of the Company.
01-Jul-2011
(Official Notice)
15-Jun-2011
(C)
Revenue for the year ended 31 December 2010 improved to USD2.5 billion (USD2.3 billion) and gross profit rose to USD364.56 million (USD241.62 million). Operating profit jumped to USD186.77 million (USD150.78 million), while profit attributable to ordinary shareholders increased to USD77.9 million (USD74.94 million).



Dividend

No dividend has been declared



Prospects

The group will continue to leverage the synergy provided by the diversified portfolio to deliver superior value to stakeholders. The group intends to continue the investment in OML 90. It will collaborate with relevant partners to develop upstream assets owned by Equator Exploration Limited, a subsidiary acquired during 2009. Further growth in upstream portfolio is envisaged through the strategic acquisition of producing or near term assets, on an ongoing basis. These efforts are intended to improve contribution by the upstream business to the group's revenue and profitability in the future. More customers are being connected to the greater Lagos distribution network in order to utilise the additional capacity provided by the completed greater Lagos phase 3 pipeline network. Construction work at the Eastern Horizon Gas company's 128 kilometre pipeline project is at an advanced stage and is expected to be commissioned during 2011. The Supply - trading business will continue to take advantage of this window and consolidate its foray into the West African markets. In addition, the Marketing business has positioned itself to take full advantage of the inherent gains from the deregulation of the downstream sector immediately after commencement of this policy. The energy services business commenced refurbishment of the third rig. The third rig is expected to become operational during 2011. The group is confident that the diversified asset portfolio will continue to deliver continuous improved revenue and profitability.
06-Jun-2011
(Official Notice)
Shareholders are referred to the announcements released on SENS on Thursday, 28 April 2011 and Friday 20 May 2011 regarding the company's annual general meeting and is advised that the Notice of Annual General Meeting is available for download from the company's website hosted at www.oandoplc.com.
20-May-2011
(Official Notice)
Shareholders are referred to the announcement released on the Securities Exchange News Service ("SENS") on Thursday, 28 April 2011 regarding the date of the Company's Annual General Meeting ("AGM") and are advised that the Thirty- fourth AGM of Oando will be held at the Landmark Village Events Centre, Water Corporation Road, Off Ligali Ayorinde, Victoria Island, Lagos, Lagos State Nigeria on Thursday, 30 June 2011 at 10:00 a.m. (11:00am Central African Time). Shareholders are further advised that the salient dates and times as contained in the announcement released on SENS on Tuesday, 5 April 2011 regarding the recommendation of dividend and bonus issue of ordinary shares remain unchanged.
19-May-2011
(Official Notice)
Oando provided the following earnings forecast for the second quarter ending 30 June 2011:

All figures in USD 'millions

* Turnover : 905

* Cost of sales : (787)

* Direct contribution : 118

* Operating expenses : (61)

* Other operating income/charges : 11

* Operating profit : 67

* Interest payable - similar charges : (20)

* Depreciation : (13)

* Profit before tax : 35

* Provision for tax : (16)

* Profit after tax : 19.
17-May-2011
(C)
Sales for the quarter ended 31 March 2011 increased to USD761.35 million (2010: USD617.83 million). Gross profit rose to USD104.69 million (2010: USD86.37 million), while profit attributable to equity holders of the company remained stable at USD20.96 million. Furthermore, headline earnings per share ("HEPS") weakened to USD1.16cps (2010: USD2.32cps).



Dividend

No dividend was declared.



Prospects

The group will continue to leverage the synergy provided by the diversified portfolio in order to deliver superior values to stakeholders. The group intends to continue earning increased revenue from its upstream businesses while further development activities are being carried out in Oil Mining License ("OML") 90. Further growth in the upstream portfolio is envisaged through the strategic acquisition of producing or near term assets on an ongoing basis. These efforts are intended to improve contribution by the upstream businesses to the group's revenue and profitability in the future. More customers are being connected to the Greater Lagos distribution network in order to exhaust the additional capacity provided by the completed Greater Lagos Phase 3 pipeline network. Construction work at the Eastern Horizon Company's 128 kilometre pipeline project is at an advanced stage and is expected to be commissioned during 2011.



The introduction of the sovereign notes for settlement of the Petroleum Support Fund ("PSF") receivables have significantly shortened the PSF receivables cycles and improved working capital management. The Supply - Trading business will continue to take advantage of this window and consolidate its foray into the West African markets. While it is expected that the incoming administration at the Federal level will take a definite stand on the deregulation of the downstream sector of petroleum industry, the situation is being analysed enabling the group to maximize the advantages inherent to the deregulation. The Energy Service business continued the refurbishment work on the third rig and this is expected to be completed and become operational during 2011. The group is confident that the diversified assets portfolio has enough capability to deliver continually improving revenue and profitability.
28-Apr-2011
(Official Notice)
Further to the announcement released on SENS on 4 April 2011, shareholders were advised that the annual general meeting ("AGM") of Oando will no longer be held at 10.00 am (11:00am CAT) on Friday, 29 April 2011. A new date for the AGM will be announced in due course.
05-Apr-2011
(Official Notice)
The board recommended a dividend of three Naira (NGN3.00) for each ordinary share of fifty kobo each and bonus shares at the rate of one ordinary share of fifty kobo for every four ordinary shares of fifty kobo each held for the twelve months to 31 December 2010. Both the dividend and the bonus issue are subject to the approval of shareholders at the annual general meeting to be held at 10.00 am(11:00am CAT) on Friday, 29 April 2011. The salient dates are:

* Currency conversion calculated at close of business in South Africa on Monday, 4 April

* Last day for trading to qualify for and participate in the dividend (cum dividend) and in the bonus shares in South Africa on Tuesday, 19 April

* Trading ex dividend and bonus shares in South Africa commences on Wednesday, 20 April

* Announcement released confirming that the dividend and bonus shares has been declared on Friday, 29 April

* Dividend and bonus shares record date in South Africa on Friday, 29 April

* Dividend payment and bonus shares listing date in South Africa (electronic and certificated register) on or about Wednesday, 31 August.



Currency conversion

The currency conversion at close of business on 4 April 2011 was 1 South African rand = 22.926 Naira. Accordingly, the dividend of three Naira (NGN3.00) per ordinary share equates to 13.0856 South African cents per ordinary share.



Listing of bonus shares

It is intended that the last day to trade in order to qualify for the bonus shares will be Tuesday, 19 April 2011 and the record date will be 29 April 2011. It is anticipated that the bonus shares will be issued and listed by 31 August 2011.
27-Jan-2011
(Official Notice)
Oando provided the following profit and loss forecast for the first quarter ending 31 March 2011: All figures in Naira millions:

* Turnover : 101 958

* Cost of sales : (84 446)

* Direct contribution : 17 513

* Operating expenses : (8 500)

* Other operating income/charges : 1 061

* Operating profit : 10 074

* Interest payable - similar charges : (2 649)

* Depreciation : (1 850)

* Profit before tax : 5 575

* Provision for tax : (2 665).
12 Nov 2010 15:15:27
(C)
Revenue rose slightly to USD1.9 billion (USD1.7 billion), gross profit increased to USD294.1 million (USD110.9 million). Operating profit jumped to USD135.2 million (USD81.2 million), while profit attributable to ordinary equity holders of the company expanded to USD59.1 million (USD45.7 million).



Dividend

No dividend has been declared for the period under review.



Prospects

The investments hitherto made in the upstream assets, drilling rigs and IPP assets have started yielding returns. The group has commenced activities towards drilling additional wells in the producing assets, oil mining licence ("OML") 125 and OML 56). The company expects these activities to raise the its crude oil production per day and therefore boost revenue and profitability contribution of the upstream business. The commissioned LSWC IPP has been experiencing steady operations with positive impacts on the group's revenue and profit contribution. The ongoing construction work at EHGC's 128km pipeline project has also progressed during the period. Commissioning of the pipeline is expected in the first quarter of 2011. Government's introduction of Sovereign Notes as guarantees for PSF receivables has improved petroleum products supply as well as reduced working capital requirements for the downstream businesses. These measures resulted in improved contribution to the group's performance. The group anticipates that these trends may continue. The group's energy services division has deployed another drilling rig into operation, while refurbishment and contracting for a third drilling rig is being finalised. The current performance reflects the robustness of the company's strategy and it is anticipated that the current trend may continue for the rest of the year.
12 Nov 2010 15:10:56
(Official Notice)
The board of directors ("the Board") appointed Mr. Oghogho Akpata and Ms. Nana Afoah Appiah- Korang as non-executive directors to the board of the company effective 11 November 2010. Oando Plc announced the resignation of two of its non-executive directors, Mr. Onajite Okoloko and Ms. Genevieve Sangudi from the board of directors with immediate effect.
21 Sep 2010 12:01:50
(Official Notice)
Oando announced the resignation of one of its non-executive directors, Mr. Navaid Burney from the board of directors effective immediately. Mr Burney's resignation was necessitated by growing demands on his time from other business interests. Mr. Burney was an active member of the board and the board's subcommittees and instrumental in bringing Oando's corporate governance practice in line with international standards. Oando has commenced a search for a suitable candidate to act as non-executive director of the company. Shareholders will be advised of the outcome of that search in due course.
25 Aug 2010 15:03:11
(Official Notice)
Shareholders are advised that the company will host a conference call with analysts to discuss its results for the first half of the 2010 financial year, released on SENS on Tuesday, 10 August 2010. The call will take place on Wednesday, 25 August 2010, at 15:00 UK time/16:00 Central African Time. The presentation to be used during the call is available for downloading at the company's website www.oandoplc.com.
16 Aug 2010 09:57:50
(Media Comment)
Business Day wrote that five years ago, Oando was mainly a downstream company but has since focused on entrenching itself in the upstream market. Oando is trying to transform itself into an integrated energy company. In light of this effort, CE Wale Tinubu, said earnings from the company's midstream and upstream businesses have increased.
11 Aug 2010 13:42:18
(Official Notice)
Shareholders are referred to the announcement released on Thursday, 6 May 2010 and are advised that the Nigerian Securities and Exchange Commission has registered the issue of bonus shares at the rate of one ordinary share of fifty kobo for every two ordinary shares of fifty kobo each held for the twelve months to 31 December 2009 ("bonus issue"). The bonus issue was approved by the company's shareholders at the annual general meeting held on Friday, 7 May 2010.



It is expected that admission to trading and listing of the bonus issue shares will take place on the Main Board of JSE Limited on Monday, 16 August 2010. Registered holders of Oando ordinary shares as recorded on the company's share register on Thursday 20 May 2010 ("qualifying shareholders") will have their accounts with Central Securities Depository Participants and brokers in South Africa credited with bonus shares on or about 16 August 2010. New share certificates in respect of the bonus issue will be posted to qualifying shareholders on the same day. Qualifying shareholders will not be allocated a fraction of a bonus share and as such any bonus share giving rise to a fraction of less than one of a bonus share will be rounded down to the nearest whole number. This is applicable to shareholders on both the Nigerian and South African share register.

10 Aug 2010 15:38:45
(C)
Revenue from sales for the interim period was slightly higher at USD1.167 billion (2009: USD1.128 billion). Gross profit increased to USD187 million (2009: USD96 million), while operating profit showed and improvement as well and climbed to USD101 million (2009: USD49 million). Profit attributable to equity holders of the company rose to USD44 million (2009: USD26 million) . Furthermore, headline earnings per share was slightly lower at USD2.45cps (2009: USD2.87cps).



Dividend

No interim dividend was declared.



Future prospects

The investments hitherto made in upstream assets, drilling rigs and IPP assets have started yielding returns. In order to extract crude oil efficiently and at minimal cost from the Obodetti/Obodogua field of oil mining licence ("OML") 56 a pipeline construction was completed and commissioned at the end of the second quarter of 2010. This will improve the volume and reduce transportation costs for crude oil produced from this oilfield. The company is finalising necessary processes required to boost oil production with a view to further enhance revenue and profit contribution of the upstream business. The commissioned LSWC IPP project has been operating steadily with a positive impact on the group's revenue and profit contribution. The ongoing construction work at the EHGC's 128 kilometre pipeline project has progressed well during the period. Management's full attention will be focussed on completing the project before the end of the calendar year. Although no definite pronouncements have been made on deregulation of the downstream sector of the oil and gas industry, a number of measures were taken to assure marketers of the prompt reimbursement of costs for imported petroleum products. These measures include government's guarantee in the form of sovereign notes, which has improved product availability and reduced working capital requirements and related costs. The company expects that this intervention by government will continue to positively affect volume and profitability of the group's downstream businesses. Oando's energy services division has deployed another drilling rig into operation while refurbishment and contracting for the third one is being finalised. The current performance reflects the solidity of our strategy and it is our opinion that the current trend will continue for the rest of the year.
11 May 2010 12:16:54
(C)
10 May 2010 13:10:58
(Official Notice)
10 May 2010 13:02:17
(Official Notice)
Oando announces that Mr. Oboden Ibru has resigned as a non-executive director from the Oando board of directors ("the board) with effect from 30 April 2010.
06 May 2010 15:08:32
(Official Notice)
Further to the announcements released on 14 April 2010 and 23 April 2010, the board will be recommending bonus shares at the rate of one ordinary share of fifty kobo for every two ordinary shares of fifty kobo each held for the twelve months to 31 December 2009. The bonus issue is subject to the approval of shareholders at the Annual General Meeting to be held at 10.00 a.m.(GMT+1) on Friday, 7 May 2010 and registration by the Securities Exchange Commission.



The salient dates are:

*Last day for trading to qualify for and participate in the bonus issue in South Africa Thursday, 13 May 2010

*Trading ex bonus issue in South Africa commences on Friday, 14 May 2010.

*Transfers between the Nigerian Register and the South African Register closed both dates inclusive, Friday, 14 May 2010 and Thursday, 20 May 2010.

*Record date in South Africa Thursday, 20 May 2010.

*Record date in Nigeria Thursday, 20 May 2010.



A further announcement advising the dates the bonus issue becomes unconditional and the accounts with CSDPs and brokers will be credited in South Africa with bonus shares or issue of new share certificates re the bonus issue posted, will be released when these dates have been confirmed. Shareholders are advised that bonus shares cannot be traded until they have been issued. The allocation of bonus shares will be such that shareholders will not be allocated a fraction of a bonus share and as such any bonus share giving rise to a fraction of less than one of a bonus share will be rounded down to the nearest whole number. This is applicable to investors on both the Nigerian and South African share register.
23 Apr 2010 08:41:14
(Official Notice)
Correction - Recommendation of dividend and bonus issue of ordinary shares The "Listing of bonus shares" paragraph contained in an announcement released on SENS on 14 April 2010 has been corrected to read as follows:

Listing of bonus shares

It is intended that the last day to register in order to qualify for the bonus shares will be 20 May 2010. An announcement advising the remaining dates applicable to the listing of the bonus shares and the date that the accounts with CSDPs and brokers will be credited in South Africa with bonus shares or issue of new share certificates re the bonus issue posted, will be released once the necessary regulatory approvals have been obtained.

23 Apr 2010 08:37:01
(Official Notice)
The announcement released on SENS on 15 April 2010 stated the incorrect date of 20 April 2010 to be on the register for the receipt of bonus shares. Please see below the resolution with the correct date.



Transacting the following special business:

To consider, and if approved, to pass with or without modification, the following ordinary resolution:

Resolved on the recommendation of the directors of the company and in accordance with Article 141 of the Articles of Association of the company a sum of Naira 301,694,876 out of the balance standing to the credit of General Reserve as at the year ended 31st December 2009 be capitalized and that the directors of the Company be and are hereby authorized to appropriate the said capitalized sum of Naira 301,694,876 to the members holding the shares of the company at the close of business on 20 May 2010 in the proportion of 1 ordinary share of 50 kobo for every 2 ordinary shares of 50 kobo each held by them on that day on condition that the new capitalised sum of Naira 301,694,876 not be paid in cash to members holding ordinary shares but applied on their behalf in paying up in full at par 603,389,752 shares of 50 kobo each now issued to be allotted, distributed and credited as fully paid up to amongst the said members in the proportions aforesaid.

22 Apr 2010 09:17:08
(Official Notice)
With respect to the rights circular dated Monday, 18 January 2010 in respect of the Nigerian shareholders and the rights circular dated Monday, 1 February 2010 in respect of the South African shareholders, a total of 25 877 applications for 386,759,796 ordinary shares were received in connection with the rights issue.

*All 25 877 applications were found to be valid under the terms of the rights issue and were accepted and processed accordingly. The rights issue was therefore 128.20% subscribed.

*25 296 shareholders accepted their rights in full totaling 52 815 666 ordinary shares and these were allotted.

*197 applications for 96 130 781 ordinary shares were received in respect of rights traded on the floor of The Nigerian Stock Exchange and were allotted.

*384 shareholders with provisional allotment of 16 680 593 ordinary shares partially accepted their rights totaling 11 454 808 ordinary shares and were allotted; leaving a balance of 5 225 785 ordinary shares partially renounced.

*A total of 136 047 836 ordinary shares were fully renounced bringing the total number of shares renounced to 141 23 621 ordinary shares.

*Out of the shareholders that accepted their rights in full, 11 442 shareholders applied for additional 226 358 541 ordinary shares and were allotted the 141 293 621 renounced ordinary shares.



For shareholders in South Africa, return monies will be dispatched to shareholders from the designated escrow account on Monday, 26 April 2010. Allotment of shares to South African shareholders will be issued and distributed through Computershare Investor Services (Pty) Ltd in accordance with the relevant laws and practices of the Republic of South Africa. The rights issue shares will be listed on the JSE on Wednesday, 28 April 2010. The rights issue shares and the excess shares allocated will be issued to South African shareholders on Wednesday, 28 April 2010. Transfers between the Nigerian and South African registers will be restricted for the period between Wednesday 28 April 2010 and Friday 28 May, 2010. Should there be a change in such restriction period, shareholders will be notified on SENS accordingly.
15 Apr 2010 09:34:09
(Official Notice)
14 Apr 2010 13:17:15
(Official Notice)
Dividend and bonus issue

The board will be recommending a dividend of three Naira (NGN300c) for each ordinary share of fifty kobo each and bonus shares at the rate of one ordinary share of fifty kobo for every two ordinary shares of fifty kobo each held for the twelve months to 31 December 2009. Both the dividend and the bonus issue are subject to the approval of shareholders at the AGM to be held at 10.00 a.m(GMT+1) on Friday, 7 May 2010.



Salient dates

*Last day for trading to qualify for and participate in the dividend (cum dividend) in South Africa - Tuesday, 13 April 2010

*Trading ex dividend in South Africa commences on - Wednesday, 14 April 2010

*Announcement released confirming the dividend has been declared - Friday, 7 May 2010

*Dividend payment date in South Africa (electronic and certificated register) - Tuesday, 31 August 2010



The currency conversion at 11:00 South African time on 12 April 2010 was ZAR1.00 = NGN20.7634. Accordingly, the dividend of three Naira (NGN300c) per ordinary share equates to 14.4485 cents per ordinary share.



Rights issue

On 19 January 2010 Oando announced that a rights issue of 301 694 876 ordinary shares of 50 kobo each at Naira 70.00 per share is to be undertaken by the company ("the rights issue"). Shareholders are advised that the rights issue shares and the excess shares applied for in terms of the rights issue will not be eligible to participate in the dividend, but will be eligible to participate in the bonus issue.
12 Apr 2010 13:51:46
(C)
07 Apr 2010 16:45:26
(Official Notice)
18 Feb 2010 11:29:14
(Official Notice)
Further to the rights issue circular posted to Oando shareholders on Monday, 1 February 2010 and the various announcements released the latest being on Tuesday, 17 February 2010, relating to the proposed rights issue of 301 694 876 ordinary shares of 50 kobo each at Naira 70.00 (ZAR 3.49) per share on the basis of one new ordinary share for every three ordinary shares of 50 kobo each held as at the close of business on Friday, 29 January 2010, being the Friday prior to the offer opening date for South African shareholders ("the rights issue"), Oando would like to draw attention to the following exchange control provisions applicable to South African shareholders or their renouncees, where applicable:

* South African institutional investors may exercise their rights and/or apply for excess shares in terms of the rights issue using their permissible foreign portfolio investment allowances. South African institutional investors will be given twelve months to realign their portfolios should they be in excess of their exchange control foreign exposure limits.

* South African corporates, banks, trusts, partnerships and private individuals may exercise their rights and/or apply for excess shares in terms of the rights issue without restriction.

* Emigrants are not permitted to trade in inward listed securities.
17 Feb 2010 09:05:25
(Official Notice)
01 Feb 2010 13:37:54
(Official Notice)
Oando shareholders are referred to the finalisation announcement released on SENS on Friday, 22 January 2010 and published in the South African press on Monday, 25 January 2010 relating to the proposed rights issue of 301 694 876 ordinary shares of 50 kobo each at Naira 70.00 (ZAR 3.49) per share on the basis of one (1) new ordinary share for every three (3) ordinary shares of 50 kobo each held as at the close of business on Friday, 18 December 2009 for those shareholders in Nigeria whose names appear on the Register of Members and transfer books of the company and shareholders in South Africa whose names appear on the Register of Members and transfer books as at the close of business on Friday, 29 January 2010, being the Friday prior to the offer opening date for South African shareholders ("the Rights Issue"). South African shareholders are advised that the Rights Issue circular has been posted today and that an electronic version of the Rights Issue circular may be obtained from Oando's website (www.oandoplc.com). In addition, hard copies of the Rights Issue circular may be obtained from Monday, 1 February 2010 to Friday, 19 February 2010 from the company's transfer secretaries whose address and contact details are set out below.
29 Jan 2010 09:51:15
(Media Comment)
Finweek noted that the announcement of Oando's rights issue on 19 January 2010 has pushed up the company's share price to 625cps. The strong performance is partly due to technical reasons, but may also be due to the belief of JSE investors that the company is streaming ahead with its investment strategy, which might include acquisitions. The offer price of the shares at 349cps is also much lower than its price of 625cps, representing an attractive discount to possible investors.
26 Jan 2010 16:58:33
(Official Notice)
Shareholders are informed that the effective appointment date of Chief Sena Anthony, Ms. Amal Inyingiala Pepple and Ms. Genevieve Sangudi as non-executive directors to the board of the company is 31 January 2010 and not 1 January 2010 which was incorrectly stated in such announcement.
22 Jan 2010 11:25:50
(Official Notice)
Oando shareholders are referred to the declaration announcement released on SENS on Tuesday, 19 January 2010 and published in the South African press on Wednesday, 20 January 2010 relating to the proposed rights issue of 301 694 876 ordinary shares of 50 kobo each at Naira 70.00 per share on the basis of one new ordinary share for every three ordinary shares of 50 kobo each held as at the close of business on Friday, 18 December 2009 for those shareholders in Nigeria whose names appear on the register of members and transfer books of the company and shareholders in South Africa whose names appear on the register of members and transfer books as at the close of business on Friday, 29 January 2010, being the Friday prior to the offer opening date for South African shareholders ("the rights issue").



Offer price for South African shareholders

Oando shareholders are advised that the currency conversion at 17:00 South African time on Thursday, 21 January 2010 of ZAR 1 = Naira 20.057. The issue price per Oando share for South African shareholders in respect of the rights issue is therefore ZAR 3.49.



Approval

The rights issue circular has been approved by the JSE and has been registered by the companies and Intellectual Property Registration Office of South Africa. The rights issue will be implemented in accordance with the timetable detailed in the SENS announcement referred to above.



Circular to South African shareholders

The rights issue circular will be posted to the South African shareholders of Oando on Monday, 1 February 2010 and an electronic version of the rights issue circular will be available on the company's website (www.oandoplc.com) from Friday, 22 January 2010.
19 Jan 2010 16:45:18
(Official Notice)
Oando is proposing a rights issue of 301 694 876 ordinary shares of 50 kobo each at Naira 70.00 per share on the basis of one new ordinary share for every three ordinary shares of 50 kobo each held as at the close of business on Friday, 18 December 2009 for those shareholders in Nigeria whose names appear on the Register of Members and transfer books of the company and shareholders in South Africa whose names appear on the register of members and transfer books as at the close of business on Friday, 29 January 2010, being the Friday prior to the offer opening date for South African shareholders.The shares being offered will rank pari passu in all respects with the existing share capital of the company.



The rights issue is an important step for Oando, towards refinancing the acquisition of the upstream assets, providing operational capital to fund the operation of the upstream business, and short and medium term investments in its gas and power business segment.



Salient dates

*Declaration data announcement released on SENS on - Tuesday, 19 January 2010

*The ZAR/Naira exchange rate determined at the close of business on - Thursday, 21 January 2010

*Last day to trade in Oando shares in order to settle trades by the record date and to qualify to participate in the rights issue on the JSE (cum rights) - Friday, 22 January 2010

*Rights Issue circular posted to South African shareholders on - Monday, 1 February 2010

*Rights Issue opens in South Africa at 09h00 on - Monday, 1 February 2010

*Rights Issue closes at 12h00 in South Africa and payment in respect of the rights issue shares and the excess shares to be made by all shareholders on - Friday,19 February 2010

*Listing of the Rights Issue shares and trading of rights issue shares on the JSE commencing at - Wednesday, 21 April 2010
03 Dec 2009 13:10:03
(Official Notice)
Pursuant to article 88 of the company's articles of association the board of directors ("the board") appoints Chief Sena Anthony, Ms. Amal Inyingiala Pepple and Ms. Genevieve Sangudi as non-executive directors to the board of the company effective 1 January 2010.
23 Nov 2009 11:20:29
(Official Notice)
Turnover decreased to USD2335 million (2008: USD2755 million).Gross profit declined to USD111 million (2008: USD139 million). Operating profit was up to USD96 million (2008: USD73 million). Attributable profit to ordinary shareholders was USD45 million (2008: USD48 million) and earnings per share of 0.04c (2008: 0.05c).



Prospects

Significant progress has been made in the efforts at generating revenue and cash from other upstream assets apart from OML 125 - 134. To this end, OML 90 and OML 56 fields are expected to start production within the next two quarters. Advantage shall also be taken of the opportunities provided by the strategic alliance formed with major producers to accelerate our block-to- production process for identified assets in the division. In an attempt to increase the upstream assets portfolio, currently are at advanced stages of concluding the acquisition of controlling interests in Equator Exploration Ltd for about USD21.2 million.



The Energy Services Division has stamped its feet as a leader in the swamp rig business in the country, with the acquisition of two more rigs. One of the rigs has commenced revenue generation while another one is expected to be mobilised before the end of the year. The Federal Government has announced a definite position about the petroleum sector deregulation. However, Marketing and Supply and Trading Divisions have instituted appropriate strategies towards taking full advantage of the opportunities inherent in the deregulation while also minimising the side effects. These initiatives are expected to translate into better bottom lines in not distant future.
30 Sep 2009 10:00:24
(Official Notice)
Shareholders are advised that the following resolutions proposed in the notice to shareholders, were unanimously passed at the extra-ordinary general meeting of the company held at 10:00 on Tuesday, 29September 2009, as follows:



Increase of authorised share capital

The shareholders approved that the authorised share capital of the company be and is hereby increased from NGN5 00 000 000 (five hundred million naira) to NGN1 000 000 000 by the creation and addition thereto, of 1 000 000 000 ordinary shares of 50 kobo each, such new shares to rank pari passu in all respects with the existing ordinary shares in the capital of the company. The special resolution will be lodged with the Corporate Affairs Commission, Abuja, Nigeria for registration.



Approval of the amendment of the Memorandum and Articles of Association of the company

The shareholders resolved that Clause 6 and Article 3 respectively of the company's Memorandum and Articles of Association be and are hereby amended to reflect the new authorised share capital of NGN1 000 000 000 divided into 2 000 000 000 ordinary shares of 50 kobo each.
07 Sep 2009 12:24:55
(Official Notice)
Shareholders are advised that a circular relating to approvals sought to increase the authorised share capital of the company and the proposed amendments to the company's Memorandum and Articles of Association relating to the new authorised share capital was posted to Oando shareholders on Thursday, 3 September 2009. Notice is hereby given that the extraordinary general meeting of Oando will be held at the Nigeria Law School Auditorium, Adeola Hopewell Street, Victoria Island, Lagos, Nigeria on Tuesday 29th day of September 2009 at 10.00 am.
20 Aug 2009 15:25:50
(Official Notice)
Oando's attention has been drawn to the advertorial published by the Central Bank of Nigeria (CBN) in the Nigerian national daily newspapers on Wednesday the 19th day of August 2009. This advertorial states, that Oando has total "non- performing" loan facilities in the sum of USD45 342 107.28 with Oceanic Bank Plc ("Oceanic Bank") and constitutes one of the largest debtors to Oceanic Bank.



In no way can Oando's relationship with Oceanic Bank be deemed non-performing. As part of the company's on-going commercial relationship with Oceanic Bank, Oando has different credit balances on its deposit account and other debit balances on its advised loans as at 31 May 2009. For the avoidance of doubt, none of these debit balances represented a past due obligation. Oando has demanded that CBN and Oceanic Bank correct the erroneous impression that has been created by this advertorial.
18 Aug 2009 16:11:01
(C)
In spite of reduction in the value of naira against USD by about 25%, the group's turnover increased by about 7% over prior year. The increase was from revenue earned on the upstream assets. Profit after tax was however 16% below the level in prior year driven by increased operating costs, an increase in finance costs as a result of higher interest rates (up to 22% from about 16% in 2008) and the increase in depreciation charges arising from the newly introduced upstream assets. Total assets rose by about 37% from USD1.4 billion USD2.0 billion as at June 2009. Also, total liabilities increased from USD1.2 billion to USD1.7 billion. The increase in assets and borrowings arose from acquisition of more rigs, investment in upstream assets and natural gas pipelines construction projects.
31 Jul 2009 13:38:44
(Official Notice)
Shareholders of Oando were informed that the board of directors recommended a final cash dividend of Three Naira (Naira 3.00) for each ordinary share of 50 kobo each. The dividend was subject to the approval of shareholders at the AGM convened to be held on 30 July 2009, and is payable to shareholders who were recorded in the registers of Oando at the close of business on Friday,3 July2009.



All the resolutions proposed at the AGM were duly passed by the requisite majority of shareholders present and voting at the meeting.

The remaining salient dates applicable to the dividend payment are as follows:



Dividend payment date in Nigeria - Monday, 3 August 2009

Dividend payment date in South Africa - Monday, 3 August 2009

On Monday, 3 August 2009, dividends due to certificated shareholders on the South African registry will either be electronically transferred to shareholders' bank accounts or, in the absence of suitable mandates, dividend cheques will be posted to such shareholders.

Shareholders who hold dematerialised shares will have their accounts, at their Central Securities Depository Participant or broker credited on Monday, 3 August 2009.



Currency conversion

The currency conversion at 11:00 South African time on Friday, 5 June 2009 was 1 Rand = Naira 19.57. The dividend of Three Naira (Naira 3.00)(being the balance to be paid) per ordinary share equates to 15.32959 cents per ordinary share.



Withholding tax

Shareholders are advised that a withholding tax of 10% on the dividend is payable by all shareholders. The dividend net of withholding tax is Two Naira Seventy Kobo (Naira 2.70) (13.79663 cents) per ordinary share.
27 Jul 2009 07:51:04
(Official Notice)
Oando Energy Services, a subsidiary of Oando has emerged Nigeria's largest indigenous drilling contractor with Oando's acquisition of two inland barge rigs from Shell Petroleum Development Company of Nigeria Ltd (SPDC) for an estimated USD43.5 million inclusive of VAT. This latest acquisition brings to five, the total number of rigs in Oando's fleet and clearly reinforces the company's position as the leading beacon in the oilfield services sector of Nigeria's oil and gas industry.
08 Jul 2009 13:33:17
(C)
02 Jul 2009 17:02:43
(Official Notice)
Since the release of Oando's audited results on 8 June 2009, the statement of the group performance on a divisional basis has been amended due to the reallocation of certain figures.
09 Jun 2009 12:02:51
(C)
31 Mar 2009 12:11:44
(Official Notice)
Oando wishes to advise its shareholders that, following the changes implemented by the JSE to Section 18 of the JSE Listings Requirements, its listing on the JSE has been reclassified, with effect from 25 March 2009, from a dual primary listing to a secondary listing, with its primary listing being on the NSE.



The NSE has confirmed that the new ISIN number for Oando is NANDO00002. ISIN numbers need to be standard for all stock exchanges on which the securities are listed. Consequently, the salient dates and information relating to the change of Oando's ISIN number on the JSE are as follows:

*Last day for trading using the old ISIN number NG00000UNTP0 on the JSE -- Thursday, 16 April 2009

*Termination of old ISIN number NG00000UNTP0 on the JSE trading system and commencement of the new ISIN number NANDO00002 -- Friday, 17 April 2009

*Record date in South Africa -- Friday, 24 April 2009

*Dematerialised shareholders will have their accounts at their CSDP or broker automatically updated -- Tuesday, 28 April 2009

Certificated shareholders are not required to do anything.
13 Feb 2009 11:58:59
(Official Notice)
Oando, Nigeria's leading integrated energy solutions provider, has taken delivery of an additional rig named the "Constitution" purchased in July 2008 at a cost of USD53.5 million. This brings to three the number of rigs in the company's fleet, underpinning its commitment to providing world-class oil field services in the Gulf of Guinea.
14 Jan 2009 11:02:13
(Official Notice)
Shareholders are advised that Oando has paid for a 15.0% interest in the production sharing contracts in respect of offshore Nigeria oil mining licence 125 and OML 134. The Transaction has been agreed with Nigerian AGIP exploration Ltd subsequent to AGIP's exercise of its preemption rights over Shell Nigeria exploration and production company Ltd's entire 49.81% interest in the PSCs and JOA in respect of OML 125 and OML 134. Standard Chartered has acted as Oando's sole financial adviser for this transaction.



Terms of the transaction

Oando has agreed, to acquire and has paid to AGIP, an aggregate cash consideration of US$188,445,292. The consideration payable in terms of the transaction was settled as follows:

*US$18,844,529 on July 25, 2008, the date of signature of the sale and purchase agreement for the transaction

*US$169,600,763 on January 12, 2008 for the completion of the transaction. The initial consideration was adjusted to account for changes between the effective date of the transaction being 30 June 2007 and the completion date being the date when all the conditions precedent set out in paragraph 3 below had been fulfilled or waived. These adjustments reflect interest on the initial consideration as well as positive and negative adjustments to account for expenses incurred and income received from the acquired business by the seller since the effective date. The initial consideration and any adjustments was funded from internal cash resources. Standard Chartered, Standard Bank group Ltd and BNP Paribas are providing re-financing to Oando for the transaction.



Conditions precedent

The transaction was subject to warranties and indemnities normal for a transaction of this size and nature and conditions precedent which have been met.The transaction is a category 2 transaction in terms of the JSE Ltd's listings requirements. After taking into account the estimated adjustments referred to in paragraph 2 above, between the effective and the closing date, the transaction would still be considered a category 2 transaction. Oando is not required to issue a circular to shareholders Shareholders are advised that even though Oando has paid the required consideration to AGIP, the transaction is yet to be concluded as Oando is still awaiting a confirmation of the receipt of the said payment from AGIP
03 Nov 2008 11:45:01
(C)
Sales increased to USD1.7 billion (USD1.4 billion) and operating profit was up at USD72.8 million (USD42.4 million). Net profit attributable to ordinary shareholders more than doubled to USD47.9 million (USD23.3 million). In addition, headline earnings grew to USD5.28cps (USD3.09cps).



Prospects

As stressed before Oando looks at the up stream and midstream parts of its business, including the gas and power division, as the main drivers of growth in the mid to long term. The company will also continue its cost containment effort while proactive cash management procedures put in place will be upheld through the year.
29 Sep 2008 14:42:26
(Media Comment)
Business Day reported that the Nigerian senate has endorsed Oando's claim to 49.81% ownership of the assets in the Niger Delta region. Oanda had previously been involved in a battle over the assets with Nigerian Agip Exploration ("NAE"). NAE owns 51.19% of the assets and wanted to exercise its rights of pre-emption over the fields.
30 Jul 2008 08:01:02
(Media Comment)
Business Day reported that despite Oando's release of solid results on Tuesday, 29 July 2008, showing an after tax profit of USD31.1 million, a 25% increase in turnover from USD884 million to USD1 billion, and a 167% increase in total assets, not a single deal was done in the company's shares. Vestact's Paul Theron said that the big gap between the sell and buy prices made the share unattractive to local investors. Theron also commented that because of rising oil prices Oando should be more attractive, but that the group had done little to market itself to South African investors.
29 Jul 2008 11:20:47
(C)
Turnover for the first half of the year increased by 25% from USD884.09 million to USD1.05 billionn in 2008. The positive growth in turnover has the same impact on gross profit as the group recorded a 66% increase over prior year profit of USD52.72 million. In addition to high volume of trade, the company recorded marked improvement in its margin recovery effort thus boosting the margin level. Oando's total assets rose by 167% to USD680 million compared to USD1.815 billion as at June 2007 while total liabilities grew by the same margin all driven mainly by the increased level of business activities. The growth in assets is due to strategic investment made by the company in the last quarter of 2007 as total asset increased by 30% when compared to the audited position of December 2007. The group reported headline earnings per share of 3.44c (2.59c).



Dividend

The board has declared an interim dividend of Naira 3.00 for each ordinary share of 50 kobo each, payable on 30th September 2008 to those shareholders, whose names appear in the company's Register of Members (Nigerian - South African) at the close of business on Friday, 15th August, 2008. A dividend announcement will be released shortly on SENS.
25 Jul 2008 14:26:16
(Official Notice)
14 Jul 2008 15:51:18
(Official Notice)
Omamofe Boyo, the deputy chief executive officer of Oando has been appointed chief executive officer of Oando Marketing, a subsidiary company of Oando. Mr Boyo will be dividing his time between Oando and Oando Marketing. The appointment is effective 1 July 2008.
25 Jun 2008 10:01:51
(Official Notice)
Shareholders are advised that discussions are still in progress which if successfully concluded, may have a material effect on the price of Oando's securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in Oando's securities until a detailed announcement can be made.
27 May 2008 17:28:47
(Official Notice)
In an announcement dated 22 April 2008, shareholders of Oando were informed that the directors of Oando had recommended a final dividend of Six Naira (N6.00) per ordinary share of fifty kobo and an issue of bonus shares at the rate of one ordinary share of fifty kobo for every five ordinary shares of fifty kobo each held. Both the dividend and the bonus issue were subject to the approval of shareholders at the annual general meeting convened to be held on 27 May 2008, and are payable to shareholders who were recorded in the registers of Oando at the close of business on Friday, 9 May 2008.



Results of annual general meeting

All the resolutions proposed at the annual general meeting were duly passed by the requisite majority of shareholders present and voting at the meeting. The remaining salient dates applicable to the dividend and bonus issue are:

*Dividend payment date in Nigeria -- Friday, 30 May 2008

*Trading in bonus shares commences on the JSE -- Friday, 30 May 2008

*Dividend payment date in South Africa -- Wednesday, 4 June 2008

*Accounts with CSDPs and brokers credited in South Africa or issue of new share certificates re the bonus issue effected -- Friday, 6 June 2008

On Wednesday, 4 June 2008, dividends due to certificated shareholders on the South African registry will either be electronically transferred to shareholders` bank accounts or, in the absence of suitable mandates, dividend cheques will be posted to such shareholders. Shareholders who hold dematerialised shares will have their accounts, at their Central Securities Depository Participant or broker, credited on Wednesday, 4 June 2008 in respect of the dividend and on Friday 6 June 2008 in respect of the bonus issue.



Currency conversion

The currency conversion at 11:00 South African time on 21 April 2008 was R1.00=NGN15.157. Accordingly, the dividend of Six Naira (N6.00) per ordinary share equates to 39.6 cents per ordinary share.



Withholding tax

Shareholders are advised that a withholding tax of 10% is payable by all shareholders on the dividend. Accordingly the dividend net of withholding tax is Five Naira Forty Kobo (N5.40) (35.64 cents per ordinary share).
14 May 2008 15:02:20
(Official Notice)
Shareholders are advised that discussions are still in progress which if successfully concluded, may have a material effect on the price of Oando's securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in Oando's securities until a detailed announcement can be made.
12 May 2008 12:29:29
(C)
Oando's first quarter results show an increase in consolidated turnover by 61% from USD372m in the first quarter of 2007 to USD598m in 2008. The increase in turnover trickled down to gross profit, at USD39m a 55% increase over the previous year. Ongoing expansion of businesses led to an increase in operating expenses by 49%. Our non-fuel revenue showed a reduction of 58% from the previous year. The 2008 position reflects the ongoing level of business as the prior year level was boosted by income accruing from the disposal of a non-core asset. The net effect of the lower non-fuel revenue and the higher operating expenses was a 34% increase in operating profit from USD13.20m in the first quarter of 2007 to USD17.71m as at the end of March 2008.



Dividends

No dividend has been declared for the period under review.
05 May 2008 13:21:31
(Official Notice)
Shareholders are advised that the annual financial statements of Oando for the year ended 31 December 2007 have been dispatched to shareholders and contain no modifications to the announced 2007 year end audited results which were published on Monday, 14 April 2008. The Annual Report will be available online at www.oanodoplc.com from Tuesday, 6 May 2008.



A notice of the annual general meeting is attached to the annual report. The annual general meeting will be held at The Nigerian Law School Auditorium, Adeola Hopewell Street, Victoria Island, Lagos, Lagos State, Nigeria on Tuesday, 27 May 2008 at 10.00am.
22 Apr 2008 15:56:00
(Official Notice)
The directors of Oando have recommended a final dividend of NGN6.00 per ordinary share of fifty kobo and bonus shares at the rate of one ordinary share of fifty kobo for every five ordinary shares of fifty kobo each held (NGN4.00 per ordinary share) for the twelve months to 31 December 2007. The dividend has been recommended and will be declared in Naira ("NGN"), the currency of Nigeria. Both the dividend and the bonus issue are subject to the approval of shareholders at the annual general meeting to be held on 27 May 2008. The salient dates are:

*Currency conversion at 11:00 South African time on Monday, 21 April 2008

*Last day for trading to qualify for and participate in the dividend (cum dividend)and Bonus issue in South Africa on Wednesday, 30 April 2008

*Trading ex dividend - bonus issue in South Africa commences on Monday, 5 May 2008

*Transfers between the Nigerian Register and the South African Register closed on 5 May to 16 May 2008

*Record date in South Africa on Friday, 9 May 2008

*Record date in Nigeria on Friday, 9 May 2008

*Register of members and Transfer Books closed in Nigeria on 12 May - 16 May 2008

*Annual general meeting on Tuesday, 27 May 2008

*Announcement released confirming the dividend has been declared and the bonus issue is unconditional on Wednesday 28 May 2008

*Dividend payment date in Nigeria on Friday, 30 May 2008

*Dividend payment date in South Africa (electronic and certificated register) on Wednesday, 4 June 2008

*Accounts with CSDPs and brokers credited in South Africa or issue of new share certificates re the bonus issue effected on Friday 6 June 2008



Currency conversion

The currency conversion at 11:00 South African time on 21 April 2008 was R1.00/NGN15.157. Accordingly, the dividend of NGN6.00 per ordinary share equates to 39.6 cents per ordinary share.



Withholding tax

Shareholders are advised that a withholding tax of 10% is payable by all shareholders on the dividend. Accordingly the dividend net of withholding tax is NGN5.40 (35.64 cents per ordinary share).
14 Apr 2008 12:18:54
(C)
02 Apr 2008 10:08:07
(Official Notice)
Shareholders are referred to the announcement which was released on SENS on 25 February 2008 detailing the potential acquisition by Oando of Shell?s entire 49.81% interest in the Production Sharing Contracts and Joint Operating Agreement respectively in respect of offshore Nigeria Oil Mining Licence (OML) 125 and OML 134. Shareholders are advised that certain of the principal conditions precedent will not be satisfied. Discussions have commenced regarding a revised transaction structure. Accordingly, shareholders are advised to exercise caution when dealing in Oando securities until a further announcement is made.
25 Feb 2008 11:55:36
(Official Notice)
Oando has, subject to the fulfilment or waiver of the conditions precedent set out below, entered into an agreement to acquire Shell Nigeria Exploration and Production Company Ltd's ("Shell") entire 49.81% interest in the Production Sharing Contracts ("PSCs") and Joint Operating Agreement ("JOA") respectively in respect of offshore Nigeria Oil Mining Licence ("OML") 125 and OML 134 (the "transaction").



Terms of the transaction

Oando has agreed, subject to the fulfilment or waiver of the conditions precedent set out below, to acquire, the Shell interest for an aggregate initial cash consideration of USD625 764 000 (the "initial consideration"). The initial consideration payable in terms of the transaction will be settled as follows:

*USD62 576 400 on 22 February 2008, the date of signature of the sale and purchase agreement (the "agreement") for the transaction; and

*USD563 187 600 on the completion of the transaction.

The initial consideration and any adjustments will be funded from both internal cash resources and from external financing.



Conditions precedent

The transaction is subject to warranties and indemnities normal for a transaction of this size and nature and is also subject to the fulfilment or waiver of the following principal conditions precedent:

*pre-emptive rights related to the JOA being waived;

*receipt of consent by the Nigerian government;

*approval by Oando shareholders in a general meeting of the implementation of the transaction; and

*no material adverse event having occurred in the business condition as defined in the agreement.



Circular

The Transaction is a Category One transaction in terms of the JSE Ltd's Listings Requirements. Oando is accordingly required to issue a circular to shareholders containing full details of the transaction and the resolution required to be approved by Oando shareholders. The circular will be posted to Oando shareholders in due course, including the notice of a general meeting.



Financial effects

The transaction relates to the acquisition of assets and historical financial accounts for the acquired business are not available. Therefore, financial effects cannot be quantified at this stage.
02 Jun 2006 12:35:47
(Media Comment)
Business Report noted that Oando plans to raise R3.3 billion to fund an expansion over the next two years. The group plans to raise the funds via selling new share and borrowing money from the fourth quarter 2006.
31 May 2006 16:15:24
(Official Notice)
Shareholders are advised that all of the ordinary resolutions proposed in the notice to shareholders incorporated in the notice to shareholders, were unanimously passed at the annual general meeting of the company held at 10:00 on Tuesday, 30 May 2006,
11 May 2006 15:08:07
(Official Notice)
Further to the announcements dated 11 April 2006 and 19 April 2006, a withholding tax of 10% is payable by all shareholders on the dividend. Accordingly, the dividend payable in South African currency is 10.49861 per ordinary share.
10 May 2006 15:56:03
(C)
Turnover increased marginally by 2% compared to the corresponding period last year. This was as a result of our increase in the downstream marketing business - due to the impact of pump prices, which were increased in Quarter 1 last year, and the lower level of activity in the supply and trading business due to the relatively lower imported products requirement in the country in the Quarter under review.



Operating profit was 8% higher driven by slightly higher overall margins. PBT was 6% higher compared to the previous quarter, as a result of higher interest costs brought about by higher levels of borrowings. Profit attributable to ordinary shareholders of the company was 22% higher as compared to the previous quarter. This was due to the relatively higher contribution from the wholly owned business - downstream marketing, compared to that by the partly owned businesses in the previous quarter.



Outlook

The business environment is expected to remain the same for the rest of the year. On the downstream marketing front Oando expects that the price caps on petrol and other products will remain. The directors shall be concentrating on driving the efficiency of the business, including the level of capital requirement. With the anticipated start up of the subsidy fund, Oando expects to become a major player in the importation of fuels in the Nigeria. This should have a positive impact on the bottom line.



In addition the on going business expansion projects Oando has, its gas and energy services businesses are on track. In particular, the pipeline expansion should be concluded as planned by the fourth quarter of this year. The business should start contributing to the company's profitability.
28 Apr 2006 16:23:01
(Official Notice)
Shareholders are advised that the annual financial statements of Oando for the year ended 31 December 2005 were dispatched to shareholders today and contain slight modifications to the reviewed provisional results which were published on 31 March 2006. The modifications to the financial results are as a result of the re-classification and treatment of certain items in the income statement.



The annual general meeting will be held at The Cultural Centre, Mokola Hills, Ibadan, Oyo State, Nigeria, on Tuesday, May 30, 2006 at 10.00 a.m.
19 Apr 2006 16:11:14
(Official Notice)
Further to the announcement dated 11 April 2006, shareholders are advised that the currency conversion at 11:00 South African time on 19 April 2006 was 1 Rand = Naira 21.4314. Accordingly, the dividend of Naira 2.50 per ordinary share equates to 11. 66513cps.
12 Apr 2006 16:18:31
(Official Notice)
At the board of directors meeting held on 10 April 2006, HRH Oba Michael Adedotun Gbadebo, the Alake of Egbaland, was appointed as a director of the Company, to fill the casual vacancy created by the death of Alhaji Waziri Mohammed, who died on 22 October 2005.
31 Mar 2006 12:39:17
(C)
23 Dec 2005 11:13:12
(Official Notice)
Oando shareholders are advised that the Bureau of Public Enterprises of Nigeria has extended the PHRC bid timetable until February 2006. Oando will provide a further update in due course.
29-Aug-2018
(X)
Oando PLC is Africa's leading indigenous energy company operating in the upstream, midstream and downstream sector. Primarily listed on the Nigerian Stock Exchange, Oando is the first African company to have a crossborder inward listing on the Johannesburg Stock Exchange. Oando has invested substantially in assets across the energy value chain, formed strategic alliances to maximize productivity and are positioned to contribute to deliver value to its stakeholder in an environmentally suitable manner.


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