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 U- MINISTRY OF PETROLEUM RESOURCES





44, ERIC MOORE ROAD, SURULERE, LAGOS








P.M.B. No .......


PETRES


w, k 802490-4 H#l*feAfc/3?I7/S.399?V:173................


D29thApril;-1998’..................................


Tofcx








The Chairman,


Malabu Oil and Gas Limited,


35 Kingsway Road,


Ikoyi,


Lagos.


Dear Sir,





APPLICATION FOR DISCRETIONARY ALLOCATION


OF 0 PLS 214 AND 245





We refer to your letter in respect of the above subject matter.


The Hon. Minister of Petroleum Resources has approved the allocation of OPLs


214 and 245 to your organisation subject to the fulfilment of the following


conditions:-





i. that you pay the application and bidding fees of fifty thousand naira


(=N-50,000) and United States ten thousand dollars (US$10,000) per








block respectively;


ii. that you pay the signature bonus and reserved value per block of


USS20million;


iii. . ’• that the allocated blocks would be operated on ‘Sole risk’ basis but with


the understanding that the Government reserves the right to a participating


Interest at any time in the life of any subsequent Oil Mining Lease when it


so wishes;


 QEL-3,45.


NIGER DELTA (OFESHQ&E.)











All dial pared of land on the submarine area in the Territorial waters of the Federal Republic of


Nigeria verged Red on.PLAN NO. TH.97/4U (prepared by Pender E. Awani Licenced and


Chartered Surveyor) attached to (his schedule for OPL 245 containing an approximate area of


1958.317Sq km, with a datum vertex 245 - 1 .with co-ordinates 359617,47mN, 120543.49mE on


(zone 31 central meridian 09° E of the Projection Clarke 1880 UTM SYSTEM) and whose


boundaries run in straight lines, the bearings and lengths of which arc os follows;





FROM VERTEX bearings LENGTHS (m) TO VERTEX


245- 1 090* W 00" • 77609.71 245-2





245-2 ISO0 CO' 00" ■25000.00 245-3


245-3 269° 42' 37" 77834.33 245-4


2-15-4 00" 30* 16" 25394.72 245-1








All bearings arc UTM grid bearings in the UTM zone 31 (central meridian 09* E).


The co-ordinates of vertex points describing the boundary of the said OPL 242 arc listed here





under in UTM co-ordinates, zone 31 (central meridian 09* E) Ciarke 1880 ellipsoid and in


geographical s:








__ UTM CO-ORDINATES GEOGRAPHICAL CO-ORDINATES.


VERTICES NORTHlNGS(ni) EASTINGS (tn) LATITUDE LONGITUDE


245 - 1 ■’ 359617.47 120543.49 03( 14’52".932 05" 35* ir.59


245 - 2 359617.47 198153.20 03’ 15'00".592 06° 17' 02".776


245-3 334617.47 19815320 03’0r27".205 06’ 1704",876


245-4 334223,74 120319.87 03’t)l'07".?.54 05° 35' O7".O35


UTM Zone 32 (Central Meridian = 09® E)


Iv. that, in addition to the terms of Petroleum (Drilling and Production)


Regulations 1969, (as amended) the following guidelines will govern the


operation of the licensed areas:-


a. Your company must be a fully registered Nigerian company.


b. Foreign participation interest in the blocks shall not exceed 40%,


(i.e. 60/40 indigenous to foreign).


c. The Managing Director of your company who could be an


expatriate or Nigerian. must be an employee of the company.


d. Your company is not allowed to enter into any joint venture


agreement with any foreign company which is currently engaged in


•»


exploration and production activities in the country.


v. that you pay the statutory fees listed in (i) and (ii) and confirm the


acceptance of this offer within thirty (30) days of the date of this letter, (if


the amount due is not paid by that date, i.e. 28th May, 1998, the acreage


may be re-allocated without further reference to you);


vi. that you make payments in favour of "Federal Government of Nigeria -


P.T D.F. Account”, giving also the details of the reason(s) for the


payment; and


vii. that you advise u's of the details after the payment has been made.


For further enquiries on the allocation, please contact the undersigned.


Yours faithfully,


W. F. DubliryCrecn,fnape,fnmgs


Director of Telrolcuin Resources


for Hon. Mirtwter of Petroleum Resources


§ ^..

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MINISTRY OF PETROLEUM RESOURCES








PETROLEUM RESOURCES


...............................................,,DEPARTMENT





7, KOFO ABAYOMI. STREE^





w I2850


!> (4.K* NO


.........mm... Pl .BAI./3717/8,390/V. 1/18


3200440-9 Ref. No.............................................................


TekpbrtAt.............................. 9th April, 2001


Tclox 27478 NG DMo... .. ..............................








The Chairman,


Malabu OU and Gas Limited,


35 Kings way Road,


Ikoyi, Lagos





Dear Sir,


GRANT OF OIL PROSPECTING LICENCE:








AUTHORISATION TO COMMENCE OPERATION IN PPL 245


We refer to our letter reference No.Pl.BAL/3717/S.399/V.1/3 of April 29, 1993,


Following your compliance with Sections l(2)(n) and 1(2) id) of the Petroleum


(Drilling and Production) Regulations 1969, and our receipt of your bank draft


in respect of signature bonus and reserved value of the block, I write to inform


you that you may now mobilize your resources to commence operations in the


allocated OPL.








A deed document of the OPL which includes a mao on acale 1:100,000 and which


gives the adequate survey description of boundaries of the licence area will be


forwarded to you soonest.





In due course, you will be invited to present your 2002 work programme as it is


required that all operating oil companies present to the Department of Petroleum








Resources every first quarter of the year, the proposed work programme for the


year and their performance in the preceding year.


Your attention is also drawn to Section 30(b) of Petroleum (Drilling and Production)


Regulations 1969 which states that "within abc mouths of the date of the grant of


the licence;- the licencee shall commence (in so far as he has not already begun to


do so) seismic investigations which shall continue until, the relevant area has been


fully investigated”. Please, note that the commencement date of allocation of the


block remains 29th April, 1998 as contained in our above referenced letter.


Please accept my felicitations and hearty welcome to the country’s petroleum


prospecting sector.





Yours faithfully.

















Director of Petroleum Resources


 ... ......,DEPAKTMBW


44. ERIC MOORE ROAD, SURTJ1.ERE, LAGOS











.......126S.Q....


..........PETRES.


80249(M *' PhBAL/371 7 ?5


«■». ■ . ......


2W Apr H;-1 ••)<)??......................








The Chairman.


Malabu Oil ami Gas Limited.











35 Kingsway Road,


Ikoyt.


Lagos.


thuai Sir


RE: O PLS 214 AND 245


Further to ourJeX^cr Pl,BALLI'IT'S.399A" 1/3 of2*kh April. 199S on the above


L- subject, please bo Informed that the Hun. Minister has granted nis approval in


principle. The. following terms which require amendments in the existing


Petroleum laws would be applicable and enforceable in respect of QIT.t 214 an.:’


245 located in our deep waters.


i TliC OPL-S shall be .for a ic:m vf five (5) years in th; first ins-ance and shall be


followed by anoibcr term cf five (5) years;


ii The Petroleum Profit Tax/PFT) for perrcLuin open-mans shall he 5t'% fiat;


iji. The Investment Tax Credit ilTCj in respeel of pvtro'vufn operations 5I11II be 5C/'!t.


fiar;


Rivalry Rates shall be as follows


RATE


In area* vf< ro 2

r> Tn are,‘is1 from 201 In 5C»> nwler.-- w.;for depth, 12%'


 Frcm 501 W 800 metres





lYom 801 if I WO MtftivS 4°/f.





u. in areas in excess of 1000 treirw water depth 0%


v. Computation and payment of estimates and final PPT are to be made in US dollars


on the basis of rhe US dollar returns.


I am to inform x cu also that commercial ai’rtir.gwxnl test twgotiaud 'vith your


Technical Partner^, provided ihu fluid aareinwil i.; in I nc- vith lira cuididinos ir-iued it.* thr


indigenous €'&' P comporn'es.


rinaily, you arc to note t|wf die above t'.-rms will wiMin valid Mitil the opplivable


amended.


Yonrs faithfully.











XV nSs


D ‘urn Resources


fb tf Pcfrokum Resources


 MINISTRY OF PETROLEUM RESOURCES








' PLTRQLEUM RESOURCES p EPARTMENT


7, KOFO ABAYOMI STREET, VICTORIAISLAND, LAGOS





12650


P.M.B. No


Tcieyratns.PETKES.


2618228


Telephone


Telex. 27478 NG





The Managing Director,


Malabu Oil and Gas Limited


35, Kingsway Road,


Jkoyi - Lagos





Dear Sir,








RE: TITLE DEEDS FOR PPL 245





We arc pleased to inform you that the title deeds for OPL 245 have been signed by


. the Presidential Adviser on Petroleum and Energy Matters for and on behalf of the





Honourable Minister of Petroleum Resources,





Further to the above, we wish to forward a copy of the title deeds for your records.











Yqurs faithfully,











iMTA. Ofurhie


Director of Petroleum Resources


 MINISTRY OF PETROL 5 UM RESOURCES


OFFICE OF THE PERMANENT SECRETARY








Federal Secretariat Complex,


Shehu Shagari Way, Ps/0(5WW

Maitema,


P. M. B 449, Abuja. 9,h JvfarcTi, 2000


Telephone 09 - 5230926 Fax:











The Company Secretary,


Malabu Oil & Gas Limited,





35, Kings way Road,


Ikoyi - Lagos.





RE; BLOCK 245 ALLOCATED TO MALABU OIL AND GAS LIMITED





Reference is made to your letter dated 2nd February, 1999,


c





2. lam directed to inform you that Block 245 which was allocated to


Malabu Oil and Gas is nol among the Blocks revoked as the allocation





was done before Januaty 1999. You pro therefore free to go ahead with


plans to develop it in accordance with the Provisions of the Petroleum


Decree No. 51 of 1969.











)r. Aboj^Wiawa


Pennancru Secretary





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