Mr. Pade Durotoye reports
OANDO ENERGY RESOURCES INCREASES DEPOSIT FOR ACQUISITION OF NIGERIAN UPSTREAM OIL AND GAS BUSINESS OF CONOCOPHILLIPS
Oando Energy Resources Inc., further to its press
release dated March 28, 2014, has paid a previously agreed
upon deposit of $25-million for the extension of the outside completion
date for the acquisition of the Nigerian upstream oil and gas business
of ConocoPhillips. The $25-million deposit was required to
be paid following the inability of the parties to obtain the consent of
the Minister of Petroleum Resources in Nigeria prior to
April 11, 2014.
We seek Safe Harbor.
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