OER Extends Completion Date For Acquisition of Nigerian Upstream Oil and Gas Business of Conocophillips

OER Extends Completion Date For Acquisition of Nigerian Upstream Oil and Gas Business of Conocophillips

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 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.
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Source: oandoplc.com

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