Oando Energy Resources extends acquisition completion date

Oando Energy Resources Inc.

Oando Energy Resources Inc. (TSX: OER), a company focused on oil and gas exploration and production in Nigeria, has extended the outside date for completion of the proposed acquisition of the Nigerian upstream oil and gas business of ConocoPhillips (NYSE: COP) to March 31.

Pursuant to an amendment agreement executed with ConocoPhillips on Feb. 28, Oando Energy Resources and ConocoPhillips agreed, among other things, to extend the outside date for completion of the ConocoPhillips Acquisition from Feb. 28 to March 31, to enable the companies to satisfy all closing conditions, including the anticipated consent of the Honorable Minister of Petroleum Resources in Nigeria.

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