OAO - Oando PLC - Oando earnings forecast for the third quarter ending 30

OAO - Oando PLC - Oando earnings forecast for the third quarter ending 30       
September 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 THIRD QUARTER ENDING 30 SEPTEMBER 2012.         
In terms of the Listings requirements and Rules governing listing on the        
Nigerian Stock Exchange, Oando is pleased to provide the following profit and   
loss forecast for the third quarter ending 30 September 2012:                   
All figures in $ `millions                                                      
Q3 2012 Forecast                            

Turnover                                           770                          
Cost of sales                        (646)                                      
Direct contribution                                 124                         
Operating expenses                   (66)                                       
Other operating income/charges                       4                          
Operating profit                                    62                          
Interest payable & similar charges   (25)                                       
Depreciation                         (10)                                       
Profit before tax                                    27                         
Provision for tax                    (8)                                        
Profit after tax                                     19                         


The earnings forecast are prepared in compliance with Nigerian Statement of     
Accounting Standards (SAS) translated to US Dollars ($).                        
The earnings forecast reported in this announcement has neither been reviewed   
nor reported on by the auditors of the Company.                                 
12 June 2012                                                                    
Sandton                                                                         
JSE Sponsor                                                                     
Macquarie First South Capital(Proprietary) Limited                              
OANDO PLC -                                                                     
EARNINGS FORECAST FOR THE THIRD QUARTER ENDING 30 SEPTEMBER 2012                
KEY ASSUMPTIONS                                                                 


1  Exchange Rate NGN/$  - Interbank             160                             
2  Annual Consumer Inflation Rate (Year on      11.1%                           
  Year)                                                                         
3  Average borrowing rate                       17.5%                           
4  Average selling price per barrel of crude    $98/barrel                      
5  Average selling price per standard cubic     (N32/scm) ($0.20/mscf)          
  meter (scm)of natural gas                                                     
6  Average selling price per litre of Premium   (N97/litre)                     
  Motor Spirit (PMS)                           ($0.61/litre)                    
7  Average selling price per litre of           N150/litre (0.94/litre)         
  Automotive Gas Oil (AGO)                                                      
8  Average operating day rate for swamp rigs    $104,067/day                    
9  Average efficiency rate for swamp rigs       95%                             
10 Tax Rate - Company Income Tax                30%                             
11 Tax Rate - Education Tax                     2%                              
12 Tax Rate - Petroleum Profit Tax              50%                             
Date: 12/06/2012 11:00:03 Supplied by www.sharenet.co.za                     
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