CAPITAL OIL LTD

Re: Bonny light crude oil(spotlift)

We are indebted to your name and address through world export gazette who introduce your good office to us as the source of need.

As we are looking for a serious buyers of our products we are happy to offer you our products of 5 million barrels of crude oil for immediate spot lift and we believe that through the aid of your company we will date a serious buyer of our products.

We are one of the west african independent oil marketers and also a member of crude oil task force. This consignment have been approved already and also waiting for immediate delivering.

The current spot lifting agreement must be maintained and handle with utmost confidence and understanding with the following condition: -

Products: bonny/qua-iboe light crude oil

Port: bonny/qua-iboe offshore terminal

Quantity: 5,000,000 barrels +10%

Special gravity: 08385

Api: 37,00 max

B-sw: 0.6 petvol

Pour point: below 40 deg%f

R. V. P: 6.52 psig

Spotlift price: us$ 3.50 less from the opec price

Payment team: by confirmed, divisible and irrevocable letter of credit

The terminal superintendent and our board of director have agreed to give you us$1.50 per barrel as a basic commission on any of your connected quantity buyer.

Awaiting to hear from you if you are interested in our offer by return e-mail or internet fax as soon as possible.