Commercial property joint venture
Commercial Property
Commercial Property Oil mining lease (OML) 151 For JV in Nigeria. We are offering to a credible, ready, willing, and able investor the opportunity to acquire a 40% participating interest in oml 151 and participate in the development of the asset to First Oil. Asset Overview: Oml 151 Oil Block Location: Offshore - Situated between Bayelsa and Akwa Ibom States, in shallow waters (PSC area). Deal Structure & Price: Acquisition Cost (40% Interest): Usd 620,000,000 Facilitator's Fee: 10% of total investment (USD 62,000,000) payable by buyer. Grand Total Investment: Usd 682,000,000. Geological Report: Available and up-to-date. Reserves: Gross 2P Oil Reserves: 47.1 MMbbl Gross 2P Gas Reserves: 147.2 Bcf Gross Prospective Resources (P50): 2,791 MMboe License Validity: Expires 2036, renewable for an additional 20 years. Infrastructure: Access to nearby FPSOs, production platforms, processing facilities, and pipelines. Levies & Statutory Fees: Up to date. Any outstanding obligations will be settled by the seller prior to closing. Additional Data: Technical and proprietary data available upon execution of nda/ca and submission of verifiable proof of funds. Status: Oml 151 is in the pre-development phase, with an approved development plan targeting First Oil within approximately two years after funding. Key Investment Highlights Opportunity to enter a producing-asset-ready block with near-term production potential. Estimated initial production at start-up: ~15,000 barrels of oil per day plus associated gas sales. Significant upside from additional condensate, LPG, and NGL production. Material gas reserves capable of sustaining sales contracts for 20+ years. Procedure for Closing the Deal: - Submission of loi including - Verifiable Proof of Funds (VPOF) with Authority to Verify. - Buyer's company profile or cis of the Chairman/Managing Director. (LOIs without vpof will not be entertained.) - Upon verification, nda/ca will be signed and technical data shared. - Face-to-face meeting with the seller to finalise commercial terms. - Execution of transaction agreements, payment, and transfer of the 40% interest. Consultancy & Brokerage Fee Buyer shall pay a 10% consultancy/brokerage fee (USD 62,000,000) - split between intermediaries as agreed.
