Oando Energy Resources executes second facility agreement with Oando Plc

Oando Energy Resources executes second facility agreement with Oando Plc 
CALGARY, Dec. 24, 2013 /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 it has entered 
into a second facility agreement ("Second Facility Agreement") with Oando Plc, 
the 94.6% shareholder of the Company ("Oando"), pursuant to which Oando Energy 
Resources will borrow US$200million, at an annual interest rate of 5%, 
repayable in cash by February 28, 2014. The intended use of proceeds of the 
loan will be payment of the purchase price for the proposed acquisition by 
Oando Energy Resources of the Nigerian upstream oil and gas business of 
ConocoPhillips. Pursuant to the Second Facility Agreement and the facility 
agreement between the Company and Oando dated May30,2013, as amended, 
Oando Energy Resources owes an aggregate of US$601 million plus interest to 
The Second Facility Agreement does not become effective until Oando Energy 
Resources confirms in writing to Oando that (i) approval from the Toronto 
Stock Exchange in respect of the Second Facility Agreement has been obtained 
and (ii) the independent directors of the Company unrelated to Oando have 
recommended the approval of the effectiveness of the Second Facility Agreement 
to the board of directors of the Company, who have approved the effectiveness 
of the Second Facility Agreement (with directors affiliated with Oando 
abstaining from the vote). 
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: 
CO: Oando Energy Resources Inc.
ST: Alberta
-0- Dec/24/2013 20:43 GMT
Press spacebar to pause and continue. Press esc to stop.