Wrap Text
OER executes extension of availability period of senior secured loan agreement for acquisition of ConocoPhillips
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”)
Quote
OANDO ENERGY RESOURCES EXECUTES EXTENSION OF AVAILABILTY PERIOD OF
ITS SENIOR SECURED LOAN AGREEMENT FOR ACQUISITION OF NIGERIAN ASSETS
FROM CONOCOPHILLIPS
CALGARY, ALBERTA April 9, 2014 – Oando Energy Resources Inc. (“Oando Energy
Resources” or the “Company”) (TSX: OER), a company focused on oil and gas exploration and
production in Nigeria, today announced that, further to its press release dated January 31, 2014,
it has extended the availability period of the US$450 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 Limited.
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.
Unquote
Lagos
10 April 2014
JSE Sponsor
Macquarie First South Capital Proprietary Limited
Forward Looking Statements:
This news release contains forward-looking statements and forward-looking information within
the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”,
“continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”,
“intends” and similar expressions are intended to identify forward-looking information or
statements. In particular, this news release contains forward-looking statements relating to
intended acquisitions.
Although the Company believes that the expectations and assumptions on which such forward-
looking statements and information are reasonable, undue reliance should not be placed on the
forward-looking statements and information because the Company can give no assurance that
such statements and information will prove to be correct. Since forward-looking statements and
information address future events and conditions, by their very nature they involve inherent risks
and uncertainties.
Actual results could differ materially from those currently anticipated due to a number of factors
and risks. These include, but are not limited to: risks related to international operations,
completion of the ConocoPhillips Acquisition on the terms described or in a timely manner, the
actual results of current exploration and drilling activities, changes in project parameters as
plans continue to be refined and the future price of crude oil. Accordingly, readers should not
place undue reliance on the forward-looking statements. Readers are cautioned that the
foregoing list of factors is not exhaustive.
Additional information on these and other factors that could affect the Company’s financial
results are included in reports on file with applicable securities regulatory authorities and may be
accessed under the Company’s profile on SEDAR website (www.sedar.com). The forward-
looking statements and information contained in this news release are made as of the date
hereof and the Company undertakes no obligation to update publicly or revise any forward-
looking statements or information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.
Pade Durotoye, CEO
Oando Energy Resources Inc.
pdurotoye@oandoenergyresources.com
+1 403-561-1713
Tokunboh Akindele
Head Investor Relations
Oando Energy Resources Inc.
takindele@oandoenergyresources.com
+1 403-560-7450
Jeremy Dietz/David Feick
Investor Relations
+1 403-218-2833
jdietz@tmxequicom.com
dfeick@tmxequicom.com
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