Oando Energy Resources Inc. has entered into an amendment agreement with ConocoPhillips in relation to the proposed acquisition by the Company of the Nigerian upstream oil and gas business of ConocoPhillips, comprising the indirect acquisition of all of the shares of Phillips Oil Company Nigeria Limited ("POCNL"), Phillips Deepwater Exploration Nigeria Limited (PDENL) and Conoco Exploration & Production Nigeria Limited (collectively, the "ConocoPhillips Acquisition"), as previously announced on December 20, 2013 and September 16, 2013. Pursuant to the amendment agreement, Oando Energy Resources and ConocoPhillips agreed, amongst other things, to the following amendments:

1. Extension of Outside Date for Completion of the ConocoPhillips Acquisition

The outside date for completion of the ConocoPhillips Acquisition has been extended from November 30, 2013 to January 31, 2014 (the "Outside Date").

Tags: Oando Energy Resources Inc.