By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Oando Energy Resources Incorporated (OER) Monday said it has extended the completion of its acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips.
The company in statement to the Nigerian stock exchange (NSE) and made available to InvestAdvocate said in pursuant to an amendment agreement executed with ConocoPhillips on February 28 2014, Oando Energy Resources and ConocoPhillips agreed, amongst other things, to extend the outside date for completion of the ConocoPhillips Acquisition from February 28, 2014 to March 31, 2014 to enable the companies to satisfy all closing conditions including the anticipated consent of the Honourable Minister of Petroleum Resources in Nigeria.
OER said 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,’’ OER said.
According to the company it 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.
OER affirmed that 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,’’ OER said.
The company advised that readers should not place undue reliance on the forward-looking statements. ‘’Readers are cautioned that the foregoing list of factors is not exhaustive,’’ it said.
OER said 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,’’ OER said.
