Oando Energy Resources completes acquisition of Medal Oil (Scandinavian Oil-Gas Magazine)

Oando Energy Resources completes acquisition of Medal Oil

Published Jul 15, 2014

Oando Energy Resources Inc. has completed the acquisition of Medal Oil Company Limited (Medal Oil).

The purchase price of US$5,000,000 was satisfied by the issuance of 3,491,082 units, each unit consisting of one common share of the Company and one-half of one warrant to purchase an additional common share at a price of C$ 2.00 per common share for a period of 24 months from the date on which the Company closes the acquisition of the Nigerian upstream oil and gas business of ConocoPhillips the (CoP Acquisition).

Tags: Oando Energy Resources Inc.

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