PROCEDURE FOR THE TRANSACTION. 500 Million Barrels of Bulk BLCO. Buyer sends an LOI for the preparation of the ICC/NCNDA/IMFPA Agreement. LOI is addressed to The GMD OF NNPC, NNPC TOWERS, CENTRAL BUSINESS DISTRICT AREA, ABUJA. 1. Seller receives the LOI and sends ICC agreement and Memorandum of understanding document (MOU) for the 500 Million Barrels of BLCO Bulk Allocation to the Buyer. 2. Buyer Signs and returns documents within 48 hours with POF and Authority to Verify POF. 3. After seller receives Signed (MOU) documents, POF, ATV and the ICC Agreement and does His due diligence, he sends an invitation to the Buyer to send Two (2) designated names from Buyerâ??s group that will come for Verification and Confirmation in NNPC Towers, Abuja. 4. ON THE VERIFICATION DATE: - Seller meets with Buyer's men and they receive security clearance for access into NNPC Towers for Verification and Confirmation. 5. After Verification and Confirmation, Buyer receives account to block His fund. 6 Fund is blocked within 48 hours and the allocation request assigned to Buyer. 7 Buyer confirms ALLOCATION and pays brokers etc. Price is at 14 less 4. Gross = 14 Net = $8 Seller = $2 Seller Consultants/ Handlers =$1 Buyer =$2 Buyer Consultants/ Handlers =$1