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August 6, 2009

The Managing Director,


Total Nigeria Plc
4 Afribank Street,
Victoria Island,
Lagos

Dear Sir,

Offer For Sale of Low Pour Fuel Oil (LPFO)

We write to offer your firm Low Pour Fuel Oil (LPFO) under the following terms
and conditions:

Product: Low Pour Fuel Oil (LPFO)

Specifications: NNPC Specifications

Quantity: 5 million liters

Delivery: Ex Storage Tank at MRS Tank farm, Apapa, Lagos

Price: N80 per liter Inclusive of all clearance charges

Payment: 7 days after invoicing of loaded quantity

NOTE: Price is exclusive of union dues

We look forward to mutually rewarding relationship with your organization.

Yours Faithfully
For Imaresho Properties Limited

____________________
Mr. Tayo Shobowale
Managing Director

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