Subject: LOI - Light Crude Oil
From: Aref Bakht <[email-masked]>
To: [email-masked]
Cc: [email-masked]
Date: Sat, 02 Dec 2023 21:35:33 +0330

To : Sepehr Energy

Subject : Letter of Intent for Purchase of  Light Crude Oil .

Dear Sir

We,  Bakht Group Corporation LTD , with full legal corporate  authority 
and under penalty and  perjury, hereby confirm  our interest  that we 
are  ready, willing  and able to purchase Light Crude Oil Not Blend from 
Malaysia with the set terms as defined below:

Commodity: Light Crude Oil Not Blend.
Specification: 
https://www.nioc-intl.ir/NEW-PDF/SUMMER/GeneralData-IranianLight-New.pdf 
.
Country of Origin: Malaysia.
Quantity: 2,000,000 Barrel.
Delivery: DAP China.
Price: Minus 13 USD Per Barrel.
Price Formula: Average 1-29 Feb 2024 On April 2024 Future ICE Brent 
Contract.
Delivery Period: 1-30 December.
Currency: USD Or Euro.
Quality And Quantity : As Per Guaranteed Spec.

We will give you a bank guarantee from an Iranian bank (Bank Shahr or 
Bank Melli) for a 60-day payment.
Payments within China will be made to your trust accounts.

We  hope this is a starting  point of a  long-term business  
relationship between  our  both organizations, if you require any 
further clarifications please do not hesitate to contact the undersigned 
directly.

Sincerely yours;

Aref Bakht
Chief Executive Officer