BONNY LIGHT CRUDE OIL

SPECIFICATIONS

Specification gravity (API) = 35.7

Density at degrees Cg-Cm max = 0.45

Sulphur content WT, PCT, Max = 0.14

Color = Dark Brown

Salinity PTB 10% BSW = 47 Max

Acid Number = 0.49

Reid Vapor = 6.25MAX

Water and sediment content = 0.2%

PCT Max = 1.0

Iron WT, PPM = 1.0

Vanadium WT, PPM = 2.0

Nickel WT, PPM = 4.04

PROCEDURE

1. SELLER AND BUYER SIGNS SPA WITH FULL BANKING CO-ORDINATES. AND DEPOSIT SAME IN THEIR RESPECTIVE BANKS

2. BUYER RELEASES VESSEL DETAILS TO SELLER

3. SELLER’S VESSEL SENDS NOTICE OF READINESS (NOR) TO BUYER’S VESSEL

4. UPON CONFIRMATION OF ‘NOR’ BY BUYER’S CAPTAIN, BUYER RAISES BANK INSTRUMENT IN FAVOUR OF SELLER

5. BUYER’S VESSEL WILL BE CLEARED AND CALLED TO LOAD

6. QUANTITY AND QUALITY (Q&Q) TEST IS DONE ON BUYER’S VESSEL - ALL COST BEING THE SOLE RESPONSIBILITY OF THE BUYER

7. BUYER PAYS FULLLY FOR QUANTITY TRANSHIPPED INTO BUYER’S VESSEL

8. ALL DOCUMENTS HANDED OVER TO BUYER’S VESSEL CAPTAIN

9. VESSEL SAILS TO BUYER’S PORT OF DESTINATION.

10. NOTE: DISCOUNT IS $10 GROSS, WITH $6 NET TO BUYER AND $4 AS COMMISSION TO AGENTS AND FACILITATORS.

CONTACT ME ASAP - IF YOU CAN ADHERE TO THE ABOVE PROCEDURE.