Stercoll Energy Service – an Oil buyer

We were recently approached by a company acting for Stercoll Energy Services Ltd …  (Stercoll details below)  … we agreed to issue the FCO once we received a categorical confirmation of the acceptance of the offer including the procedures for such .. below is their confirmation of their acceptance, received ..on the 20th of July 2012

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Attn: Mr. David Sanders
Subj: D2 Gas Oil CIF Philippines

Status: Buyer, ready to proceed

Buyer has accepted all condition and oil specification offered by the seller, he is now ready to proceed. Please issue FCO a.s.a.p as per advised company and name of buyer via buyer’s designated information as stated below:_

Company Name: STERCOLL ENERGY SERVICE LTD.  INDONESIA
ATTENTION:        Mr. Datuk MYR UGUNG SIDYU
                            Director Asian Regional Head Quarters

Email:                  info@stercoll.com

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The Buyers Website is :   www.stercoll.com

The Full Corporate offer was issued to this address on the 24th  of July 2012, it was valid for 5 days.

We were approached shortly after issuing the Full Corporate Offer from the Skype address, of chief.emeka kalu a person who said that they were the buyer for the main company Stercoll .. corporate details available on the above website.

Just before the end of the validity period this same contact sought to vary the procedures, despite receiving confirmation of their agreement to them as above.

We gave the buyer all help necessary within the procedures to move forward … the FCO expired on July 30th, 2012

No further contact was received from the buyer by way of explanation as to why they failed to proceed. This behavior is unprofessional and was unexpected, especially after they agreed to the whole offer including procedures before we would even consider issuing the offer.

For us this whole exercise was a waste of time … and an expensive one, as it meant that the oil was not available to other buyers during the preparation and validity period of the FCO.

The “buyer” proved to be a time waster … at the very least.

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