A PROPOSAL FOR THE SUPPLY OF CRUDE OIL(BONNY LIGHT) CAPABILITY/EQUIPMENT Expert delivery of crude oil to larger vessels Possession

of small cargo boats for delivery to large vessels in a short period of eight(8) days. DETAILS OF DELIVERY VESSELs: They can deliver crude oil of 2500Metric tons per night. 20 workmen on board. COST OF DELIVERING PRODUCT: At current Exchange rate of one hundred and sixty naira to a US dollar and at eighty dollar per barrel of crude oil, cost of delivery is as follows: Metric tonnage Barrels of Petrodollar(US) PetroNaira of oil oil 1 2,500 17863 1429040 228646400 8 20,000 142,904 11,432,320 1,829,171,200 Note: A metric ton of crude is equivalent to 7.145 barrels of crude. Tabulated cost is based on current exchange rate, will change if there is an appreciable change in current rate. LOGISTIC/SECURITY COST: Settlement of security outfits such as the Navy, Marine police, Joint task Force(JTF), and local security will be futted by both parties in transaction. Each party will contribute 50% for logistics. Total logistics/security settlement = N32,000,000.00 Supplier contribution of 50% of logistics/security initially will be paid by the other party(buyer) and will be deducted by the other party(buyer) when payment for the initial delivery of crude is made to the supplier. MODE OF PAYMENT; Payment is wholly by cash either in Naira or US dollar. US dollar is preferable. Payment will be based on per trip of 2,500 metric ton of product delivered. Once delivery is made payment should be effected within six(6)hrs after delivery. Payment to supplier will be done at a designated place agreeable to both parties. Trip/Day(s)