ADI CRUDE OIL & GAS LTD – NNPC LIVING RELATIONSHIP

Nigerian Bonny light crude oil (BLCO)
QUALITY: NNPC Export standard
QUANTITY: 2,000,000 Barrels Nigerian Bonny Light Crude Oil
CONTRACT DURATION: Spot 2,000,000 Barrels
EXPORT PERMIT LICENCE: CPI/ CO/258/VOL.VI11/23
SHIPMENT NUMBERS: To be programmed
PAYMENT BY: SWIFT MT103 Wire Transfer
DISCOUNT: USD $5.00 Gross / USD $7. 00 Net to BUYER

— The differential (USD $5.00) are Commissions:
—1) $2.0 to seller manadate/facilitators,
—2) $1.00 to Fiduciary Consultants
—3) $20 to buyer manadate /facilitators

BULK APPROVED DPR Ref: DPR/ OS/CTO/2018/VOL .105/006
ALLOCATION NO: COS /2468
BULK ALLOCATION AVL: 16,006,000 Barrels
BULK QTY APPROVED: 16,006,000 Barrels
SHIPMENT LOAD: 1-2,000,000 Barrels per VESSEL load

PROCEDURE:

        1. Seller issues to buyer SPA Contract for Buyer’s sign, buyer signs and returns SPA and both parties lodge signed copies
          of SPA with their respective banks.
        2. Buyer places MT-199/BCL which is to be transmitted via swift from a world class bank (prime bank) to seller’s nominated bank (TERMINAL NOMINATED FIDUCIARY ACCOUNT). Copy of this instrument will be sent to the seller for confirmation.
        3. Seller confirms Buyer’s Bank Swift MT-199 and issues to buyer storage tank information/documents.
        4. Buyer confirms product availability in storage tank and places MT103/23 or MT760. Seller confirms MT103/23 or MT760 and issues Dip Test Authorization. Seller also clears buyer to conduct Q&Q/DIP TEST. Buyer conducts Q&Q/DIP TEST upon satisfactory completion of which buyer instructs his bank to make payment for the 2M bbls.
        5. Seller confirms payment and issues original documents in buyer’s name.
        6. Seller releases original cargo documents in favor of buyer.
          1. Commercial Invoice.
          2. Tank Storage Receipt.
          3. Discharge Receipt.
          4. Certificate of Ownership.
          5. Certificate of Origin.
          6. Custom Clearance Certificates.
        7. Buyer makes payment via swift transfer into seller, agents, consultants and facilitators nominated accounts.
        8. Buyer takes over 2M bbls. Buyer only needs to issue an MT-199/BCL before receiving the tank farm detail in China. Let us know ASAP, as NNPC will shut down from early December for the holidays soon!!

To view the original documents, please contact us at +14698794321