BLCO OFFER PRODUCT: BONNY LIGHT CRUDE OIL (BLCO) Export Grade QUANTITY: 2 million Barrels minimum with possible rolls and extensions. PRICE: Brent Minus $6.00 for the minimum quantity of 2,000,000 Barrels. For larger quantities, the Seller will offer a greater discount. COMMISSION: $0.50 Per Barrel, Seller Side (closed) / US$ 0.50 Per Barrel, Buyer Side. DELIVERY TERMS: DIP AND PAY - QINGDAO CHINA. ORIGIN & SPECIFICATIONS OF PRODUCT: NIGERIAN ORIGIN / MEET EXPORT GRADE REQUIREMENTS AS PER THE BUYER REQUEST (SEE ANNEX FOR SPECIFICATIONS.) NON-NEGOTIABLE & NON-AMENDABLE DIP TEST AND PAY PROCEDURE. 1. Buyer sends Letter of intent (LOI) to the Seller. 2. Seller sends Full Corporate Offer (FCO) to the Buyer. 3. Buyer sends ICPO. 4. Seller/Buyer sign and execute SPA and lodge with their respective Banks. Electronic copies are enforceable and legally binding. 5. Buyer Issues POF via MT799 Bank to Bank. 6. Seller Confirms Buyer's POF, provides PPOP to Buyer, Bank to Bank and commercial invoice, to enable Buyer issue Documentary Letter of Credit (DLC) for the Total Product. 7. Buyer Issues Confirmable, Irrevocable and Transferable Documentary Letter of Credit (DLC via MT700.) 8. Seller confirms the instrument, sends FULL POP and DTA alongside all tank details (unlock tank details) to Buyer for inspection and injection. Seller makes all needed arrangements for Buyer's Inspectors to conduct Dip Test. 9. After the Dip Test, Seller processes all load title documents in Buyer's name and releases all load documents to Buyer. 10. Upon positive CIQ report, products are injected into Buyer's facility by the guarantee of DLC. 11. Upon injection, Seller issues Final Invoice (based on CIQ) to the Buyer. Buyer makes final payment via MT103 according to Invoice. 12. Operations are repeated.