History and Future Strategy of Oando

Oando Energy Resources (TSX:OER) - Overview (10 9M SEPT $Million 1 2015 2014 2013 2012 Revenue 355 421 127 135 Revenue Growth 44% 231% (6%) (15%) EBITDA 133 199 89 91 EBITDA Margin 38% 47% 70% 68% Net Income (63) (320) (38) 16 Net Income Margin (18%) (49%) (30%) 12% Production (mboe) 15,057 9,105 1,460 1,483 TSX Listing Producing Assets TSX AG 9M September 2015 Average Net Production Oando OML 63 Abo FPSO Drilling Rig at Ebendo 2P Reserves 2C Resources E 121.9 420.3 boepd MMboe 93.8% owned by PLC 7 OMLS 60-63, Abo, Ebendo & Qua Iboe 55,154 Average daily production rates above are reported as at 9 months September 2015. 'Figures in US$ unless otherwise stated All Reserves & Resources estimates are classified in line with NI 51-101 regulations and Canadian Oil & Gas Evaluation Handbook standards. All estimates are from an Independent Reserves Evaluator Report dated 31st December 2014 MMboe

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