BONNY LIGHT CRUDE OIL

PROCEDURE: 1 Seller issue SPA Contract with the loaded copies shipping documents Proof of Products (POP) loaded in the name of pipe product marketing company (PPMC) as a subsidiary and strategic business unit of the Nigerian National Petroleum Corporation (NNPC). 2. Buyer & Seller Sign & Seal this contract agreement and exchange the signed copy by both Parties is considered legally binding and enforceable. 3. Within 24hours Seller issue Pro-Forma Invoice to BUYER, who will pay the logistics and Re-assignment fees of $250,000 for 2,000,000 Barrels Bonny Light Crude Oil to NNPC Fiduciary Agent Logistic Account. 4. Within 48hours upon receipt of payment confirmation, the products 2,000,000 Barrels Bonny Light Crude Oil will be officially Re-assigned to Buyer as the consignee of the products by the officers in Marine and Shipping Department of the Nigerian National Petroleum Corporation (NNPC) Bonny Terminal for buyer to access cargo on board the vessel and possess authority to discharge the cargo. 5. Within 48hours of completion of Re-assignment 2,000,000 Barrels Bonny Light Crude Oil in Buyer’s name, buyer Receives the complete full set of shipping documents (proof of products) as the consignee before payment of the cargo. 6.  Buyer takes over the products 2,000,000 Barrels Bonny Light crude oil, with complete set of the cargo documents from Nigerian National Petroleum Corporation. 7.  Buyer present WOT to Tank Farm manager, (secure at his expense) before he will allow to carry out QnQ 8. Buyer carry out Q&Q inspection verified by buyer’s inspector’s agent at the Port in China against presentation of the full set of the original shipping documents with the title document to the buyer. 9. Upon completion of satisfactory Q&Q tests, within 72 hours buyer to issue MT103/72 for entire cargo cost. 10. Vessel to move to buyer POD and oil is discharged into buyer’s tanks. 11. Upon discharge of oil into buyer’s tanks, MT103/72 becomes cash. Discount off Dated Brent per barrel shall be $11 USD to Buyer and Buyer pays fees $4 USD Total: $2 to buyer side and $2 to the seller side as commissions. TRANSACTION HANDLES$1 NB. All the logistics will be deduct from the main money Nigerian Light Crude Oil (Standard Export QualitySpecific Gravity at 60 Degrees F/15.55 Degrees C: 0.8397- 0.8498 API Specific Gravity at 60 Degrees F/15.55 Degrees C: 37.0Density at 60 Degrees F/15.55 Degrees C-Cg-C M-MAC 0.85 maxPour Point 40 Degrees F/ 4.44 CSulfur Content, % Wt 0.14 maxColour Dark BrownSalinity TB at 0.10% BS&W 47 maxAcid 0.39 maxReid Vapor Pressure 6.52 psig maxWater Content, Pct.(%) 0.50 maxYield C1-C4 wt. %: 2.101 Sediment Content Pct.(%) 0.501 Iron Wt. ppm 1.001 Nickel Wt. ppm 4.001 Vanadium Wt. ppm 2.00 max