JCE OIL AND GAS LTD

COMMODITY AVAILABLE FOR SALE.

PRODUCT: Automotive Gas Oil (AGO) – EN590 /10PPM

SPECIFICATIONS: As per the attached test results

QUANTITY: 100,000 Metric Tons

LITRES: Computation shall be 1,164 litres per metric ton

DELIVERY: Tanker Take Over (TTO), Lomé Port, Togo

PRICE: $710 less 10 per MT (Intermediaries’ Commission).

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*TRANSACTION PROCEDURE (TANKER TAKEOVER - TTO LOME WATER)*

1. Buyer provides proof of funds (POF), to establish capacity .

2. Seller issues Sales and Purchase Agreement (SPA), with vessel details.

3. Buyer signs & returns the SPA along with an Authority to Board (ATB) request, including details of the inspector, supercargo, and shipping agent.

3. Seller releases five (5) key transaction documents to the Buyer. The Buyer confirms receipt.

4. Vessel arrives Lome, and Seller issues a Letter of Authorization (LOA) for the Buyer’s inspectors to board the vessel.

5. BUYER'S INSPECTION TEAM boards the vessel, conducts quantity & quality (Q & Q) verification, and signs an attestation with the vessel captain.

6. Buyer's Supercargo remains onboard, while the inspector collects samples and disembarks.

7. Buyer releases USD 2,000,000 into the Seller’s account for logistics and documentation.

8. BOTH PARTIES receive the final Q & Q test results.

9. BUYER makes the full payment via MT103, deducting the amount already paid for logistics.

10. Next transaction.

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INSPECTION & TITLE TRANSFER

The quantity and quality of the product shall be determined by a recognized surveyor/inspector appointed by the Buyer, who will conduct standard measuring, sampling, and testing procedures.

Title of the cargo shall pass to the Buyer immediately after final payment is received.

EN 590 AGO TANKER TAKE OVER
TRANSACTION PROCEDURE TTO @$650 or #720/2 Lagos Only

1 Buyer and Seller sign SPA and deposit same in their respective Banks. Electronic copies of signed SPA are legally binding on both parties

2 Buyer returns signed SPA with super cargo and inspector details, with tug boat, ssb details for boarding and ATB FORMAT and Make Cash Payment Deposit of N10 MILLION NAIRA For Commitment Sign Up Fees Security Guarantee

3 Seller’s Captain issues ATB in Favour of buyer or open communication for boarding.

4 Buyer upon confirmation of cargo through his super cargo and inspector makes Full payment Wire Transfer for cargo and move to discharge into the tank.

5 Upon confirmation of payment by the seller and all the parties, cargo documents are handed to the buyer.

NOTE: All the logistics will be deducted from the Main Money