Product Description

The discount is gross $*0 and net $ 6.*0 to the buyer.

ORIGIN   NIGERIA
         BONNY  LIGHT CRUDE OIL
        QUANTITY,  4,**0,**0BBLS   A MONTH   UP   TO   *6MONTHS
        C I F.DEAL.

CONTRACTS & BANKING PROCEDURE

The procedure for this transaction as indicated here under and shall be as follows in its strictest terms. This is a CONTRACT delivery, with room for rollover or extensions subject to negotiations.


a. Buyer and Seller sign and seal this Contract including banking coordinates and exchange the signed copy by electronic mail. The electronic signed copy by both Parties is considered legally binding and enforceable.

 b. Buyer's Bank will within two (2) banking days send SWIFT Pre advise to NNPC Fiduciary/Financiers (Sellers) Bank Account with Text attached on the appendix B.  Within two (2) banking days of confirmation of the Buyer's bank SWIFTS BG by MT **0 or LC, Seller's bank swift the 2%PB to the buyer's bank.

c. Within two (2) banking days of , the Seller provides Buyer bank by SWIFT and Buyer by fax  Proof of Product (POP) in Seller's name detailed of the Aspatankvoy CPA).

d. Within two (2) banking days of Seller facilitate shall reassign allocation to Buyer's name and program for verification Shell Network Loading Screen and Bonny loading terminal.  and Seller shall provide the Bonny Oil Terminal Loading Program Notification Form" verifiable on the Shell Screen with barrels in the name of the Buyer

e. Within *8 hours above g, Seller shall provide The Aspatankvoy Charter Party Agreement for the designated vessel marked "Freight Prepaid" to Buyers destination. Failure of Seller to do so shall be a default event and Buyer shall collect the PB.

f. Within *8 hrs. of  above, the Seller will give the Buyer verifiable Vessel name, call letters, and Captain's name of the Vessel that is to load for CIF delivery and Buyer signs a copy of the) Charter Party Agreement with the Shipping Agency.

g. Within fifteen (*5) days of above Vessel shall proceed to the Bonny Loading Terminal and load cargo.  Inspectors shall conduct quality and quantity assessment; and all relevant shipment documents shall be endorsed/receipted by the Vessel captain, with a copy forwarded to Buyer.

h. After the vessel has discharged its cargo at Buyers destination port and Buyer has received the Post Discharge Q & Q Report from SGS and after all documents are presented by the Seller after the time of cargo delivery as required, Buyer shall make payment by Telegraphic Transfer to Seller's Bank Account for oil and to Seller and beneficiaries named in Master Fee Protection Agreement in the contract for fees.

i. Payments are made by swift wire transfer directly to the Seller's bank accounts and commission agents as stipulated in the MFPA in this contract within three (3) international banking days after product delivery to Buyer's nominated port of discharge against presentation of stated shipping documents (non-negotiable copies) at Buyer's bank.

j. The signature of this contract by the Buyer and by Seller means both accept all the content as for Quantity, Discount and Procedures