Decklar Resources and its co-venturer Millenium Oil & Gas Company have executed a new sale and purchase agreement for the delivery of 30,000 barrels of crude oil (“bbls”) to the Edo Refinery and Petrochemicals Company Limited (“ERPC”) in Edo State, Nigeria.

Decklar and its co-venturer Millenium announce that following the successful delivery of 10,000 bbls of crude oil, a sale and purchase agreement has been signed for delivery of an additional 30,000 bbls of crude oil to a small crude oil refinery in Edo State, Nigeria. Under the terms of the agreement an invoice will be issued after delivery of each 5,000 bbls of crude oil with payment to be received within 21 days.

Sanmi Famuyide, CEO of Decklar Resources, said;
“Executing the agreement for the sale of an additional 30,000 bbls allows Decklar to continue to maintain stable crude oil production and shipments. Our trucking delivery system remains viable while we continue to work on implementing other crude oil export systems to achieve stable, long term transportation and crude oil sales that will allow Decklar and Millenium to fully utilize the production capacity of the Oza Oil Field.”

Mr. Michael Osime, Chairman of ERPC, said;
“We would like to thank Millenium, Decklar and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (“NMDPRA”) for an excellent job delivering the initial 10,000 bbls of crude oil to ERPC’s facility in Ologbo, Edo State. Based on the success of this venture we have signed a 30,000 bbls crude supply agreement that we believe will be continuous.”

KeyFacts Energy: Decklar Resources Nigeria country profile   l   San Leon Nigeria country profile