Subject: Re: Clarifications Regarding LOI and Drilling Rigs Documents
From: "[email-masked] [email-masked]" <[email-masked]>
To: "[email-masked]" <[email-masked]>, "[email-masked] [email-masked]" <[email-masked]>, "[email-masked] [email-masked]" <[email-masked]>
Date: Wed, 12 Mar 2025 12:04:20 -0400 (EDT)

Dear Sir,
 
We Sinoocean trading LLC company UAE based  working on behalf of CNOOC China State Company which have already operation in Kuwait working with KOC and Somo at the moment provides many Jack up rigs onshore and offshore internationally.
 
Please kindly check the attached files of the Rig for you information and the company profile.
 
http://en.sasac.gov.cn/2024/09/26/c_17901.htm
 
Some of the rigs in regards of your question are 94% build not registered yet and some of the rigs 85% thats why we have offered them in exchange of Oil and we are looking the same from your good company as well to introduce yourself as who are we going to deal with? Are you the owner of crude oil Heavy in Malaysia ? do you have the supporting documents?  Our office is in Shanghai and you are most welcome to visit and check, inspect all the paper of the Rigs.

As what we agreed to purchase 2,000,000 BBL of crude oil Heavy Malaysian crude oil on Ship to Ship basis as we have our own connection with Cosco and other shipowners which are willing to do the operation with vessels cant enter China waters .  10% advance to owner of the crude oil and 90% we will manage the Jack up rigs which maximum takes 4 weeks for completion and delivery to your nominated company.
 
We will provide you the certificate of ownership and documents in your name before the STS operation is taking place and you are holding our 10% cash advance as well. If we could not give you the Jack up rig we will obey, follow and respect the terms of full cash payment to your company.
 
FYI
CJ50-01 design99.99%
Procurement progress98.80%
Construction progress91.97%
 
Mr Dagayeghi Also will visit on behalf of Petroxxxx to visit our office again and inspect and negotiate the price and payment terms.
 
As we have line of credit with SASAC we do not need to pay or give any Guarantee against the rig we can simply adjust and complete the rig in favour of our end buyer.
 
Best Regards,
Sinoocean Trading LLC

> On 03/12/2025 2:28 PM CET [email-masked] <[email-masked]> wrote:
>  
>  
> 
> Dear Sir,
> 
> Thank you for your LOI for Heavy Crude Oil. Please find the attached RECAP for your reference.
> 
> Regarding the drilling rigs documents, there are some issues that need to be clarified. Kindly review the following points and provide the necessary details:
> 
> 1. Please provide the license of SINOOCEAN TRADING L.L.C. Attached
> 2. Kindly share the ownership documents of the drilling rigs along with the value estimation report. Against Contract and ownership of crude oil we can provide that as well from Sinoocean CNOOC or SASAC
> 3. Could you confirm if you have any relationship with the company "Sino Ocean Petroleum Capital Limited"? This Company is only made to make the operation with your Country which cant deal directly with CNOOC
> 4. The ownership section of the drilling specifications states that the owner is "SASAC." Could you clarify how you plan to proceed with the payment for this rig under SASAC’s ownership? They are the owner of the same Company which we are working on behalf of them, CNOOC and SASAC owned by the state.
> 5. It appears that the rig is still under construction. How do you intend to sell the rig if its construction is not yet completed and it has not been tested? The Rigs can be delivered to you upon your confirmation 4 weeks upto 8 weeks MAX to be transfered.
> 
> We appreciate your prompt response to these queries. Please let us know if you require any further clarification.
> 
> Best regards,
> Growth Trading Co., Limited
> 
> Commercial Manager
> 
>  
>