I'm a recent graduate. While I can't back up my claims with fancy stats and graphs, I can give you my perspective based on where my peers have gone.
Those interested in O&G/mining are pursuing masters because there is simply nothing out there at the moment. Those who have gained employment are pretty much all in the geotechnical side of things. Actually, it has been sheer luck that local companies where I live received new contracts this summer and were able to take on more graduates than usual. You also might find that it is much easier to get access to the geotechnical side of things because there are smaller companies involved and there appear to be less barriers between you and management (i.e. no crazy-long HR hiring processes). Our university would receive emails directly from geotech companies effectively saying "hey, can you ask your students to send over their CVs? We have a few positions available."
You will no doubt do an engineering module. Don't worry about the maths. It isn't civil engineering--the maths is straight forward (coming from a guy who is terrible at it).
I will be doing a masters in 2016/17 but for now I'm looking for lab-based work. This week coming I have an interview for an environmental company. This is another good sector to get into as, similar to geotech, there are jobs out there. One problem is: you need a driving license. I didn't invest the money into driving when I was 18 and I'm paying the price now. So, my tip is: if you haven't got a driving licence then have a look at your finances and see if you can scrape money together for lessons during your degree.
Again, there are smaller environmental companies taking graduates on which I think makes things easier. The job I'm going required a driving licence but I was able to make a phone call, speak to the hiring manager directly and was told that it was fine, we can work around the driving licence. Cool.
The people who are all "doom and gloom" are those who had their hearts set on O&G. But the truth is there are plenty of jobs out there in other sectors if you are willing to adapt.
Anyway, take what I say with a pinch of salt. Like I said, i'm still looking for employment so can't really comment too much but I'm a lot more positive about careers and really happy I did a degree in geology.