29/4/2016/OER

Oando Energy Resources announces that the outside date under OER’s previously announced proposed plan of arrangement (the “Arrangement”) with Oando PLC and Oando E&P Holdings Limited (the “Purchaser”) has been extended to May 31, 2016 in order for the parties to obtain the remaining outstanding lender consents.

Other material conditions precedent to completion of the Arrangement have been satisfied, including the approval of OER’s shareholders and the final order of the Supreme Court of British Columbia.

Full details regarding the terms of the Arrangement are set out in OER’s management information circular dated January 19, 2016.

Copies of the arrangement agreement, the management information circular and certain related documents have been filed with Canadian securities regulators and are available under the Company’s profile on the Canadian SEDAR website at www.sedar.com.

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