3m barrels of BLCO available on CIF with 2% PB

Delivery term: CIF to any port.

STANDARD CIF PROCEDURE:

1. Seller and buyer executive sales and purchase agreement.

2. Seller and buyer exchange verbiage of Standby Letter of Credit (SBLC) and Performance Bond (PB).

3. Buyers bank sends a Pre-Advice via swift to sellers bank.

4. Upon confirmation of Pre-Advice, seller's bank issue to buyer 2% Non-Operative Performance Bond (PB)

5. Upon confirmation of Non-Operative Performance Bond, buyer issue Standby Letter of Credit (SBLC) for the total cargo (3 million barrels) value and the SBLC automatically activate the Non-Operative Performance Bond to become operative.

6. Seller charter vessel, load the vessel and set sail for Port of Discharge.

7. Upon arrival in Port of Discharge,
QnQ test is conducted by buyer's nominated inspection company onboard seller's two loaded vessels.

8. After QnQ report, buyer effect payment by MT103/TTT within Fourth Eight hours of presentation of final commercial invoice and all sellers cargo documents at sight

9. Upon confirmation of payment, sellers hand over all relevant documents to the buyer.

Check signature for contacting information.

Tolumonye Michael
MD/CEO
Bloomsville Oil & Gas