Oando Energy Resources today announced that it has entered into a second facility agreement with Oando Plc, the 94.6% shareholder of the Company, pursuant to which Oando Energy Resources will borrow US$200 million, 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 [...]
Oando Energy today announced that it has further amended the US$401 million loan agreement and associated repayment deed, each dated May 30, 2013, as amended, with Oando Plc, the holder of 94.6% of the shares of Oando Energy Resources and a non-arm's length party to the Company, to (i) extend the repayment date from December 31, 2013 until January [...]
Oando Energy today announced that it 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, Phillips Deepwater Exploration [...]
Oando Energy Resources today announced financial and operating results for the quarter ended September 30, 2013. The unaudited financial statements, notes and management's discussion and analysis (MD&A) pertaining to the period are available on the System for Electronic Document Analysis and Retrieval SEDAR and by visiting [...]
Oando Energy today announced that it has received commitment letters for up to US$815 million of bank credit facilities which will be largely applied towards payment of the purchase price in respect of its proposed acquisition of ConocoPhillips' Nigerian upstream oil and gas business. The credit facilities comprise:
Oando Energy today announced that it has agreed to extend the repayment date under the loan made by Oando, to December 31, 2013. Oando is a 94.6% shareholder of OER. As previously announced, pursuant to the loan agreement, Oando provided a facility to the Company of up to US$386,000,000, bearing an annual interest rate of 5%. Of the Facility [...]
Oando Energy today announced financial and operating results for the quarter ended June 30, 2013. The unaudited financial statements, notes and management's discussion and analysis (MD&A) pertaining to the period are available on the System for Electronic Document Analysis and Retrieval SEDAR and by visiting website. All monetary figures reported [...]
Oando Energy today announced that it had entered into a loan agreement with Oando Plc to refinance and supplement the loan extended by Oando to OER on December 20, 2012. OER and Oando also executed a deed of repayment permitting OER to repay amounts owing under the Loan Agreement by the issuance of common shares of OER. Oando owns 94.6% of the [...]
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