Oando Plc signs agreement to acquire Conocophillips Nigerian affiliate 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: NGOANDO00002 ("Oando" or the "Company" or the "Group") OANDO PLC SIGNS AGREEMENT TO ACQUIRE CONOCOPHILLIPS NIGERIAN AFFILIATE LAGOS, NIGERIA September 16, 2013 – Oando PLC (“Oando”), Nigeria’s leading indigenous energy group listed on both the Nigerian Stock Exchange and the JSE Limited, is pleased to announce that it has entered into an agreement with ConocoPhillips (NYSE: COP) to acquire ConocoPhillips’s affiliate Phillips (Brass) Limited (“PBL”), which holds ConocoPhillips’ interest in the Brass LNG Project to Oando PLC, for approximately $105 million plus customary adjustments. PBL holds ConocoPhillips’s 17% shareholding interest in Brass LNG Limited, 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 January 1, 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 September 2013 JSE Sponsor Macquarie First South Capital Proprietary Limited For more information please contact: Ayo Ajose-Adeogun Chief, Strategy Officer Aajose-adeogun@oandoplc.com Tel: +234 (1) 2601290-9, Ext 6296 Alex Irune Head, Corporate Communications airune@oandoplc.com Oando PLC 2 Ajose Adeogun Street Victoria Island Lagos, Nigeria. Tel: +234 (1) 2702400 Ext 6270 Website: www.oandoplc.com Date: 17/09/2013 11:02:00 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.