Oando: ConocoPhillips transaction to close on July 31

Oando Energy Resources Inc.  and ConocoPhillips have entered into an agreement to extend the outside date for completion of the proposed acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips to July 31, 2014.

The parties extended the outside closing date for completion of the ConocoPhillips Acquisition to enable them finalise activities required to complete the transaction
having received the required consent of the Honourable Minister of Petroleum Resources in Nigeria.

The value of the transaction is estimated at  $1.65 billion.