Product Description

If interested, please forward LOI as noted below with a price (soft/to be negociated) to the attention of GASY Investment Company c/o Anthony Young, CTA. Thank you. We, hereby issue this Letter of Intent and confirm that we are ready, willing and able to purchase Light Sweet Crude Oil from your institution. This representation is made with full corporate authority and responsibility, and the indicative terms and conditions for the consummation of the underlying transaction are as set forth hereunder: PRODUCT: LIGHT SWEET CRUDE OIL ORIGIN: ANGOLA QUALITY: STANDARD EXPORT SPECIFICATIONS QUANTITY: 2 TO 4 MILLION BARELS PER MONTH X *2 MONTHS *2 DEIVERY: FOB DESTINATION: ASWP EUROPE OR USA PRICE: TO BE NEGOTIATED PAYMENT: BANK GUARANTEE OR DOCUMENTARY LETTER OF CREDIT COMMISSIONS: TO BE DETERMINED WITH THE PRICE DURATION: *2 MONTHS WITH ROLLOVERS AND EXTENSIONS PROCEDURES: 1. Buyer issues Letter of Intent (LOI) (This Document). 2. Seller issues Full Corporate Offer and/or Sales Purchase Agreement. 3. Seller and Buyer sign Sales Purchase Agreement. 4. Seller programs and assigns cargo to Buyer with laycan date for verification. 5. Buyer verifies programming, assignment and laycan date. 6. Buyer provides vessel information to Seller for inclusion with assignment and laycan. 7. Buyer issues DLC or Bank Guarantee to Seller. 8. Buyers vessel arrives and is loaded by Seller. 9. Independent inspection is conducted by SGS, Robinson, or Saybolt. *0. Loading documents are presented to Buyer for verification along with inspection report. *1. Seller issues commercial invoice based on the Independent Inspection Report. *2. Upon receipt of commercial invoice and verification of documents, Buyer makes payment by SWIFT. For and behalf of Buyer