FOR SALE: OIL MINING LEASE (OML) 151 IN NIGERIA, LICENSE DUE FOR RENEWAL IN THE YEAR “2036”(RENEWAL 20 YEARS INTERVAL)
We undertake to outrightly sell our Total.. % Equity to a ready willing and able Buyer.
OML 151 Oil block
- It is offshore
- Price $1.3bn USD
- Geological Report is ready
- State of location: Between Bayelsa and Akwa Ibom. ( PSC Shallow or Swamp Waters ).
- Reserve volume: Gross 2P Oil Reserves 47:1 MMbl
Gross 2P Gas Reserves 209Bcf.
Gross Prospective Reserves P50 2,791.7 MMboe.
- Licence: Valid till 2036 before renewal.
- Infrastructure including FPSOs, production platform, process facilities and pipelines.
- The participation level of the government: PSC currently held by Operator.
- All the levies are up to date. If there is anything outstanding, seller will offset upon conclusion of negotiation.
- Data: Other information would be made available by owner upon buyer providing POF and during face to face negotiation.
The teaser is an old document The OML 151 has passed the stage of just a teaser.
The information numbering 1 to 10 is the present status of Geological report.
Production platform, Process, pipeline are in place and all the levies up-to-date have been paid.
Any further information cannot be released to anyone except the buyer. But we must be satisfied that he is a credible buyer when he sends his LOI and POF to our Chambers and preliminary due diligence carried out. Once we are satisfied, we will bring seller to the table to meet with buyer. Seller insists on face-to-face discussions with buyer and once seller is satisfied, necessary transaction documents will be prepared there and then after payment, and all documents pertaining to the oil block will be released to the buyer.
Our selling price is $1.3bn (One Billion Three Hundred Million Dollars Only)
The Procedure to Follow for a Successful Closure of the Deal
- An Loi to come with the following:
- Verifiable Proof Of Funds with Authority to Verify
- Buyer’s Company Profile OR CIS of Chairman or M/D.
NOTE Any Loi that doesn’t comply with the above demand won’t be treated. We have seen too many failed Loi’s over time. So it’s better not to write at all than to so do without VPOF attached.