CALGARY,
April 17, 2014 /CNW/ - Oando Energy
Resources Inc. ("Oando Energy Resources" or the
"Company") (TSX: OER), a company focused on oil and gas
exploration and production in Nigeria, today announced that, further to its
press release dated March 28, 2014,
the Company 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 (NYSE: COP). The
$25 million deposit was required to
be paid following the inability of the parties to obtain the
consent of the Honourable Minister of Petroleum Resources in
Nigeria prior to April 11, 2014.
Forward Looking Statements:
This news release contains forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. The use of any of the words
"expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify
forward-looking information or statements. In particular,
this news release contains forward-looking statements relating to
intended acquisitions.
Although the Company believes that the
expectations and assumptions on which such forward-looking
statements and information are reasonable, undue reliance should
not be placed on the forward-looking statements and information
because the Company can give no assurance that such statements and
information will prove to be correct. Since forward-looking
statements and information address future events and conditions, by
their very nature they involve inherent risks and
uncertainties.
Actual results could differ materially from
those currently anticipated due to a number of factors and risks.
These include, but are not limited to: risks related to
international operations, completion of the ConocoPhillips
Acquisition on the terms described or in a timely manner, the
actual results of current exploration and drilling activities,
changes in project parameters as plans continue to be refined and
the future price of crude oil. Accordingly, readers should not
place undue reliance on the forward-looking statements. Readers are
cautioned that the foregoing list of factors is not exhaustive.
Additional information on these and other
factors that could affect the Company's financial results are
included in reports on file with applicable securities regulatory
authorities and may be accessed under the Company's profile
on SEDAR website (www.sedar.com). The forward-looking
statements and information contained in this news release are made
as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
SOURCE Oando Energy Resources Inc.