Oando Energy Resources Inc today announced the completion of its acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips (NYSE: COP) for a total cash consideration of US$1.5 billion after customary adjustments plus a deferred consideration of US$33 million. So by this announcement, one of the most anticipated oil block acquisition in Nigeria has now been concluded. The share price gained 10% after trading on Wednesday as the share price gained higher on this announcement. The company also released a lengthy breakdown of the transaction which you can read below or simply download.
