Oando to acquire CoP Nigerian oil and gas business

Oando Energy Resources Inc.

Oando Energy Resources Inc. (TSX: OER) has received the consent of the Honorable Minister of Petroleum Resources of Nigeria for the acquisition of the Nigerian upstream oil and gas business of ConocoPhillips (NYSE: COP) for a total cash consideration of $1.65 billion.

OER and ConocoPhillips are now positioned to complete the ConocoPhillips transaction, and OER will work with ConocoPhillips toward completing the acquisition by June 30 or shortly thereafter.


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