Oando Energy Resources increases deposit for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips

 Oando Energy Resources increases deposit for acquisition of Nigerian Upstream  Oil and Gas Business of ConocoPhillips  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.   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/April2014/17/c4336.html  CO: Oando Energy Resources Inc. ST: Alberta NI: OIL MNA