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GEPetrol


Country Guinea
City Aeropuerto Malabo
Address Malabo II Autovía Ela Nguema
Website http://gepetrol-oil.com/

GEPetrol Reviews

  • Aug 28, 2019

Text of initial solicitation:
Equatorial Oil has temporarily stopped issuing a fresh seller mandate certificate to new intending license operators for this present sales operational season. This is due to excessive and outrageous applications received during this 2017/2018 sales operational season.

Nevertheless as a staff and insider in this petrioleum agency, I have a well packaged procedure by which you can officially own a seller mandate certificate in your names or your company's name as the case may be if you strictly follow my instructions. You can use your personal names or your company's name on the crude oil sales license. I have been able to locate a dormant license number EG/2008ALBAVSK84/IGIFRP belonging to IGI GROUP OIL AND GAS LLC.

This License has not been operative for more than 10 months due to the unavailability of the company's CEO and therefore has been declared dormant by Equatorial Oil The capacity of this license is one Million Barrels of ZAFIRO BLEND per month. This license attracts a host commission of $3.00 per barrel sold, If we are able to sell the complete one million barrel allocated to you at the end of the month, You will be expecting a total amount of Three Million United States Dollars ($3MUSD) at the end of every sales operation.

I was able to trace and get hold of the attorney in charge of this dormant license and he has agreed to reassign this license to a new beneficiary as soon as am able to have a good business understanding with the new partner. The oil lifting license will be re-assigned to your names/company names as you wish which will take couple of days. As soon as this is done, consider the game over and we will start up operation immediately.

Right at the moment, I have a buyer stand-by ready to buy whatever quantity of crude they will allocate to us. The proceeds of this lucrative venture will be shared in 60% and 40%, 60% will go to you and your company while 40%comes to me and the attorney. This may be sounding very strange to you or too good to be true because you are not so familiar with the crude oil business. Believe me, this is the most legal and lucrative business someone can ever set up.

With good understanding, we will become big time oil merchants in the next few months. Nobody recommended you; I got your information from a resident directory. Nature and Capital Operation You do not need capital to start up the sales operation after the license has been re- assigned to your names/company name. You are only a sales representative to the National Oil Company; you are just an intermediary between the producer/seller and the buyer.

The producer/seller is the National Oil Company "Equatorial Oil" while the buyer is the entity buying the crude oil either by FOB(Free On Board) or CIF (Cost Insurance and Freight). After the sales operation the petroleum agency will pay you a host commission of $3 per barrel sold. The capacity of the license you are trying to re-assign now is one million barrels per month; this will give you a commission of $3MUSD every month at the end of each sales operation.

Obligation of Partners: Your role is to apply for the reassignment of the lifting/marketing license with the Equatorial Oil. As the owner of the license, the commission from the crude oil sales will be paid into your nominated account after the sales. I cannot own a license because I’m working for the oil company. I need a partner with the financial muscles and connections to bid and re- assign a license from the Equatorial Oil.

I will accept the responsibility of locating the buyers of the crude oil and negotiate with them to buy our allocated crude oil. As a staff of the Oil Company, i have good contact of buyers who will be able to scramble for any quantity of crude oil allocated to us monthly. I will use my network to arrange the sales transaction to make sure that our commission is calculated and paid to us immediately the buyer pays for the crude oil.

This will not be hard for me since I’m an insider in the oil company. As someone working with the agency, I cannot front myself to bid for a license or officially involve myself in a license operation; this is the more reason why I contacted you in the first place because it is against the oil industry's norms and ethics. I appreciate your kind response towards this lucrative venture. Just a brief description of myself, I’m a Platform Manager working under the National Oil Company of Equatorial Guinea.

The National Oil Company is a major producer of crude oil and exports to the world market. The oil company is owned by the government of Equatorial Guinea. The Europe & Pretoria office of this Oil Company is responsible for issuing “oil lifting licenses” to intending license operators and oversees the general marketing of the crude oil produced by the company. As a Platform Manager, I also assist license owners in the marketing of the crude oil allocated to them by the Oil Company.

But I’m not allowed to personally own a license or officially have interest in sales operations proceeds. On your positive response, I will be forwarding you with the direct contact details of the License office for you to direct your oil lifting license re-assignment application. I will also draft a working MOU agreement which will stipulate our roles in this project and how the resulting commissions will be shared between us.


Costs 
I have outlined the costs in this business below: 


1. The Letter of Introduction – This will be drawn up by the lawyer who is in charge of the license for possible submission to Equatorial Oil introducing you or your company as the potential beneficiary to the dormant license. The document must go through the court for legal authentication which attracts an oath fee of £4,000 GBP before it can be accepted by Equatorial Oil for vetting. 


2. Registering you or your company and getting a membership certificate from the Contractors and Operators board of Equatorial Oil. This is mandatory to enable you operate with the license when it is reassigned to you. This membership registration costs £6,500 GBP and has a 5 years life span before renewal.


3. The refundable license reassignment application levy. This now costs £9,850 GBP effective from December 31st 2017 
I will handle 1 and 2. The payment for the license levy (3) will be handled by you.
The license has life span of 5years at the end of this 5years; we can reapply to still use it. I want you to know that we have buyers already on ground to take up our entire allocation for the 5years period. 


As mentioned earlier, what we are here for is the host commission of $3 per barrels of the 1 Million we have every month meaning that we will be making $3Million every month for these 5 years. These commissions will come to you first after which you will send my part to me. Our only financial investment is just the above as I have mentioned though I have put in some money to get to this stage. 
Kindly send me your details which include your full names, address and telephone number. We will start off with the paper work when all is agreed including the costs.

IRREVOCABLE MEMORANDUM OF UNDERSTANDING

CONTRACT AGREEMENT

FOR

EQUATORIAL GUINEA CRUDE OIL (EGCO)

LIFTING AND SALES FOR 5 YEARS

BY AND BETWEEN:

[PARTY A]

AND

[PARTY B]

ENGR. ELPIDOROS CHARALAMBOUS OF THE NATIONAL OIL COMPANY OF EQUATORIAL GUINEA (GEPetrol) “PARTY B”

AND

MR. …………………………………………………………………………. OF…………………………………………………………………..(COMPANY NAME)…………………………………………………….. “PARTY A”

The provisions of this contract constitute the terms and conditions for the lifting and re-sale of Equatorial Guinea Crude Oil (EGCO) for a period of five years only (5 Years).

This agreement is entered into on the later of the dates respectively inserted below by each of the parties when affixing their signatures hereto:

The both parties with full legal, corporate authority and responsibility, under penalty of perjury, certifies, represents and warrants that it is ready willing and able to sell the product referred to herein. Both parties make an irrevocable firm commitment to sell and deliver in each transaction, a maximum quantity of One Million barrels per month; with specifications as described in this Agreement. Both parties also certifies, represents and warrants that it can fulfill the requirements of this Agreement and provide the product herein mentioned in a timely manner.

OBLIGATION OF PARTNERS:

WHEREAS, the obligations of “PARTY B” as the facilitating partner is to arrange for all the lifting and sales transactions, for the sale of the One Million barrels monthly allocation of “PARTY A” and to guide “Party A” to a successful sales transaction.

WHEREAS, the obligations of “PARTY A” is to bid for the license, being the nominated license beneficiary, host the commission and assure the availability of 40% of the total commissions to “PART B” as an equity partner.

NOW, THEREFORE, in consideration of the mutual covenants, promises,

EFFECTIVE DATE OF AGREEMENT AND TERM:

This Agreement shall come into effect on the date that the Agreement is signed by both parties in the Contract and shall be valid for a total period of 5 years only.

This contract is for a total quantity of 60 Million barrels (60 MBLS) of Equatorial Guinea Crude Oil, to be lifting and sold to buyers using vessels of 1 Million barrels [1 MBLS] capacity Vessel as Seller and Buyer may agree. Subject to the terms and provisions hereof, this Agreement shall continue in force until the delivery of the total quantity of 60 Million Barrels for a period of 5 years is complete or cancelled through mutual agreement.

ARTICLE THREE: QUALITY/SPECIFICATION:

Standard Export specifications of Equatorial Guinea Crude Oil [EGCO]

CONFIDENTIALITY, NON-DISCLOSURE AND NON-CIRCUMVENTION:

2.1​The Parties to this Agreement each agree that this Agreement shall be kept in the strictest confidence between them.

2.2​The Parties hereby agree not to circumvent one another or disclose the identities of the Parties to third parties and to abide by the standards of International Chamber of Commerce (ICC) regarding Non-Circumvention and Non-Disclosure.

The Parties agrees not to knowingly furnish, directly or indirectly Information concerning this transaction to a third party.

IRREVOCABLE MASTER FEE PROTECTION AGREEMENT

3.1 Both parties participating in this transaction have agreed to share profit on equity basis monthly, 60% to party “A” and 40% to party “B”

3.2 This Fee Protection Agreement is specifically important as proceeds of sales would be paid to the petroleum agency through the lifting company as decided upon (Further details of cash disbursement to both parties will be known later when Lifting commences.)

3.3 Both parties have agreed That Party “A” will fund any form of expenses that might arise in the initial phase of this transaction (LICENSE RE-ASSIGNMENT FEE). Further operation cost would be deducted from transaction proceeds.

3.4 Party “B” will be responsible for and facilitates all crude oil allocation, sales and make sure that the resulting commissions are paid directly to the bank account coordinates provided by party “A”

3.5 The receiving bank account for all commissions MUST be provided by party “A” till the end of the sales transaction.

THIS AGREEMENT IRREVOCABLY ACCEPTED AND AGREED WITHOUT CHANGES, BOTH PARTIES HAVE THEREFORE ENDORSED AS BELOW:

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