�OIL BLOCKS FOR SALE

This offer is subject to the Company to payment the sums of US$ 50
Million and US$ 105 Million (Total of US$155M) asx signature Bonuses on
OPLs 258A/B and 295 respectively, also Royalty of US$45M on each oil
Well of 3WELLS (Total of US$135M) in OPL’s 258A/B and 295 to Nigerian
National Petroleum Corporation within 14 Days. That any request for
tranche payment of signature bonus will not be entertained and if the
Company fails or neglects to pay the signature bonus in the manner
specified above this offer shall lapse and the OPLs 258A/B and 295
shall automatically revert to the Federal Government of Nigeria
without further recourse to the Company.
Upon the Company acceptance of the offer in the manner specified above
an award of OPLs 258A/B and 295 shall be made to the Company based on
the following:
i. Minimum Work Programme: OPL 258A/B
• Phase 1 – 5 Years
a. 3D Seismic Data – 500 Sq KM
b. No. of Wells – 1
c. Minimum Financial Commitment – US$ 75 MILLION

• Phase II - 5Years
a. 3D Seismic Data – 424 Sq KM
b. No. of Wells – 2
c. Minimum Financial Commitment - US$ 120 MILLION
ii. Cost Oil Ceiling – 80%

iii. Minimum Work Programme: OPL 295
• Phase 1 – 5 Years
a. 3D Seismic Data – 500 Sq KM
b. No. of Wells – 1
c. Minimum Financial Commitment – US$ 75 MILLION

• Phase II - 5Years
a. 3D Seismic Data – 424 Sq KM
b. No. of Wells – 2
c. Minimum Financial Commitment - US$ 200 MILLION
iv. Cost Oil Ceiling – 80%
v. Production sharing contract (PSC) between the Company and the
Nigeria National Petroleum Corporation (NNPC) to be executed based on
the 2007 PSC model.
vi. At conversation of OPL 258A/B and 295 to an Oil Mining Lease
(OMLs), 50% of each block shall be retained while the remaining 50%
shall be relinquished to the Government. The retained part shall be a
compact unit and defined by four boundaries, two (2) in East-West
direction
5. The payment of the signature bonus shall be made into Federal
Government of Nigeria Account (CBN ACCOUNTANT GENERAL/FGN)in JP MORGAN
CHASE BANK , NEW YORK, USA .
All the analysis on the OPLs 258A/B and 295 is ready, is about 98 pages.
Please find attached documents,if you have a serious buyer chat me asap
Mr Uwa: 080-3634-2063