OER extends completion date for acquisition of ConocoPhillips’ Nigerian assets to March 31, 2014

PRESS STATEMENT

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Lagos, Nigeria — Oando PLC through its subsidiary Oando Energy Resources (OER) has entered into an agreement with ConocoPhillips (COP) to extend the outside date for completion of the acquisition of COP’s Nigerian assets to March 31, 2014.

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OER has successfully acquired all funds required to complete its acquisition of COP’s Nigerian assets.

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However, closing of the COP acquisition remains subject to the consent of the Honourable Minister of Petroleum Resources in Nigeria.

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Oando remains firmly committed to the expeditious conclusion of this acquisition.

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For more information, please contact:

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Ainoije ‘Alex’ Irune

Head, Corporate Communications

Oando PLC

2, Ajose Adeogun Street,

Victoria Island

Lagos, Nigeria

Tel: +234 1 448 4500 Ext. 6270

Website: www.oandoplc.com

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