Oando Energy Resources receives signed commitment letters for up to US$815 million of term bank financing towards the

Oando Energy Resources receives signed commitment letters for up to US$815 
million of term bank financing towards the acquisition of ConocoPhillips' 
Nigerian upstream oil and gas business 
CALGARY, Oct. 10, 2013 /CNW/ - Oando Energy Resources Inc. ("OER" or the 
"Company") (TSX:OER), a company focused on oil exploration and production in 
Nigeria, today announced that it has received commitment letters for up to 
US$815 million of bank credit facilities which will be largely applied towards 
payment of the purchase price in respect of its proposed acquisition of 
ConocoPhillips' ("COP") Nigerian upstream oil and gas business (the "COP 
Acquisition"). 
The credit facilities comprise: 
1. up to US$465 million Reserve Based Lending Facility, 
 internationally placed and led by BNP Paribas, Standard Bank and 
 Standard Chartered Bank ("RBL"); and
  2. a US$350 million Senior Secured Loan, jointly arranged locally in 
 Nigeria, by FBN Capital and FCMB Capital Markets ("Senior Loan"). 
OER, in its September 16, 2013 press release, advised the market of the 
extension of the outside date for the completion of the COP Acquisition to 
November 30, 2013 ("Outside Date"). As a result of the termination of the 
agreement to purchase Phillips Brass Limited ("PBL") the net purchase price 
payable to complete the COP Acquisition was reduced to approximately US$1.22 
billion (after giving effect to the termination of the agreement to purchase 
PBL, adjustments as of the date hereof and the deposit already paid to COP). 
The RBL and Senior Loan remain subject to various closing conditions, 
including execution of definitive documentation. 
"The receipt of the commitment letters represents an important step towards 
closing the COP Acquisition and concludes the 2(nd) stage in our financing 
plan, having initially paid a US$435 million deposit to COP," said Pade 
Durotoye, CEO of Oando Energy Resources. "We have sought to optimally finance 
this acquisition to retain maximum value for our shareholders. We will now 
proceed to the final stage of concluding the financing required for completion 
of the COP Acquisition." 
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, 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 through the SEDAR 
website (www.sedar.com) for the Company. 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. 
 Pade Durotoye, CEO Oando Energy Resources Inc. 
pdurotoye@oandoenergyresources.com +1 403-561-1713 
Tokunboh Akindele Head Investor Relations Oando Energy Resources Inc. 
takindele@oandoenergyresources.com +1 403-560-7450 
Jeremy Dietz/David Feick Investor Relations +1 403-218-2833 
jdietz@tmxequicom.com 
dfeick@tmxequicom.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/October2013/10/c9224.html 
CO: Oando Energy Resources Inc.
ST: Alberta
NI: OIL ORDER FIN MNA  
-0- Oct/10/2013 21:43 GMT
 
 
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