Americana Petroleum Company

Crude Oil

	Crude Oil

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Model Number	Saudi Light
Brand Name	Saudi Light

FULL CORPORAT OFFER

Commodity: Saudi Light Crude Oil.

Quality: Specification as per the attached Appendix.

Quantity: 1 Million MT per month with possible rolls and extention contract for 8 years.

Starting Shipment: with 500.000 MT per month for the first quarter 3 months delivery, the second quarter 3 months

delivery - 750.000 MT per month, the third quarter delivery � 1 million MT per month till end period of contract.

Delivery: CIF American Continant.

Price: Platt Dubai.

Discount: Gross US$ 2.50/Barrel, Net to buyer US$ 2.20.

Commission: US$ 0.30/Barrel.

Payment: Irrevocable revolving DLC.

Performance Bond: 2% of L/C value.

Validity: up to May 10th, 2005

PROCEDURE:

1- Seller issue Full Corporate Offer.

2- Buyer accepts FCO and issue ICPO with full banking details and refinery`s name and registration number at ARAMCO.

3- Seller present POP certificates to Buyer on a bank to bank basis.

4- Seller sends Draft sales agreement to the Buyer.

5- After mutual satisfaction Buyer and Seller sign the hard copy of the sales agreement.

6- Seller issues 2% PBG.

7- Buyer issues financial instrument.

8- Shipping for the first quarter commences within 45-60 days.

QUALITY CERTIFICATE

API Gravity 33.34

Sediment Cintant 0.1

Astm Stabilised Gravity 34.5

Wax-wt percent 2.9

vanadium PPM V200 11

Gross heating value 19.23

Reid vapour pressure 2.0

Salt content PPM Nacl 3.8

Sulphur wt recent 1.0 max.

Comp. Carbon Residue

Wt. percent 3.1

Viscosity cp 55.0

Pour point 35.0

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