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ALPHAREA LIMITED-

REQUEST FOR BIDS FOR THE ACQUISITION OF MOBILE OFFSHORE DRILLING RIGS (ONOME AMD ORITSETIMEYIN)

RIGS FOR IMMEDIATE SALE “AS IS AND WHERE IS”
REQUEST FOR BIDS FOR THE ACQUISITION OF MOBILE OFFSHORE DRILLING RIGS (ONOME AMD ORITSETIMEYIN)

1. BACKGROUND
Rigs Onome and Oritsetimeyin are part of the Eligible Bank Assets (EBAs) under Asset Management Corporation of Nigeria’s (AMCON) asset portfolio, acquired pursuant to AMCON’s statutory powers and mandate under the AMCON Act (as amended). The Rigs were acquired through a Loan Purchase and Limited-Service Agreement (“LPLSA”) dated 2/1/12, with which AMCON bought over First Bank of Nigeria s (“FBN”) loan rights and the assets charged, mortgaged, or pledged as security with respect to the unpaid debt of Seawolf Oilfield Services Ltd. (now Seawolf Oilfield Services Ltd. (in receivership) (“Seawolf”) owed to FBN.

We are desirous of selling the two Rigs “AS IS AND WHERE IS”.

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