OANDO PLC - OANDO EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER 2012.

OANDO EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER 2012.

Oando PLC
(Incorporated in Nigeria and registered as an external company
in South Africa)
External Registration number: RC 6474
Company registration number: 2005/038824/10
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
(“Oando” or the “Company”)

OANDO EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31
DECEMBER 2012.

In terms of the Listings Requirements and Rules governing
listing on the Nigerian Stock Exchange, Oando is pleased to
provide the following income statements forecast for the
fourth quarter ending 31 December 2012:

All figures in US$ „millions

                                             Q4 2012 Forecast
Turnover                                                1049
Cost of sales                                           (919)
Gross margin                                             130
Operating expenses                                       (61)
Other operating Income                                    30
Operating profit                                          99
Finance costs                                            (44)
Depreciation                                             (17)
Profit before Tax                                         38
Income tax expense                                       (18)
Profit after tax                                          20

The earnings forecast has been prepared in compliance with
Nigerian Statement of Accounting Standards (SAS) translated to
US Dollars (US$).

The earnings forecast reported in this announcement has
neither been reviewed nor reported on by the auditors of the
Company.

29 October 2012
Sandton

JSE Sponsor
Macquarie First South Capital (Proprietary) Limited
OANDO PLC -
EARNINGS FORECAST FOR THE FOURTH QUARTER ENDING 31 DECEMBER
2012
KEY ASSUMPTIONS

1    Exchange Rate NGN/USD - Interbank                     160
2    Annual Consumer Inflation Rate (Y/Y%)               11.1%
3    Average borrowing rate                             17.5%
     Average selling price per barrel of
4    crude                                          $98/barrel
     Average selling price per scm of                  N32/scm
5    natural gas                                  ($0.20/mscf)
                                                     N97/litre
6    Average selling price per litre of PMS      ($0.61/litre)
                                                    N150/litre
7    Average selling price per litre of AGO       (0.94/litre)
     Average operating day rate for swamp
 8   rigs                                         $104,900/day
 9   Average efficiency rate for swamp rigs                98%
10   Tax Rate - Company Income Tax                         30%
11   Tax Rate - Education Tax                               2%
12   Tax Rate - Petroleum Profit Tax                       50%

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