SEAWOLF OILFIELD SERVICES LIMITED – REQUEST FOR BIDS FOR THE SALE OF MOBILE OFFSHORE DRILLING RIG (DELTA QUEEN) OF SEAWOLF OILFIELD SERVICES LIMITED (IN RECEIVERSHIP)

SEAWOLF OILFIELD SERVICES LIMITED
RIG FOR IMMEDIATE SALE “AS IS AND WHERE IS”
REQUEST FOR BIDS FOR THE SALE OF MOBILE OFFSHORE DRILLING RIG (DELTA QUEEN) OF SEAWOLF OILFIELD SERVICES LIMITED (IN RECEIVERSHIP)

BACKGROUND:
Mr. Michael Igbokwe, SAN, FCIArb, was appointed by Asset Management Corporation of Nigeria (“AMCON”) as the Receiver/Manager of Seawolf Oilfield Services Limited (“SEAWOLF”) over the assets of SEAWOLF and its related companies assets and undertakings pledged as eligible bank asset acquired by AMCON from First Bank of Nigeria Pic under the powers contained in Section 48 of AMCON Act 2010, the applicable laws and the relevant debenture duly registered at the Corporate Affairs Commission Abuja.

In pursuance of the aforesaid appointment, the Receiver/Manager now wishes to sell the Delta Queen Rig of SEAWOLF.

DESCRIPTION OF DELTA QUEEN DRILLING RIG:
Delta Queen was constructed and built by Gotaverken Arendal AB, Gothenburg Sweden and designed by Friede and Goldman. The rugged design L-780 A class permits operating in 300ft of water depth to a rated drilling depth of 20.000 ft. The cantilever provides a drilling envelope of 40ft
extended and 10ft either side of the center line, thus, enabling the Rig to access multiple wells on a platform without having to move. The Rig was first put in operation in 2010. The Rig is now cold stacked in CALABAR.

MODE OF APPLICATION AND REQUIREMENTS:
Interested buyers of the Rig should write to the Receiver/Manager indicating their offer price for the Rig on or before 1 st June 2017, including the profile of the applicant detailing; name of company, the shareholders and ownership structure, the contact persons, office and contact address including telephone and e-mails addresses.

INSPECTION OF RIG
Bidders are encouraged to visit the Rig at its present location from the date of this publication before making their bids.

PROCEDURE FOR THE SUBMISSION OF BIDS:
BIDS must be submitted in a sealed envelope with one original and 5 copies, duly signed by the authorized representative of the applicant and delivered to the Receiver/Manager at the address stated below not later than 1st June 2017. Soft copy of the said documents should also be put in a USB flash drive, submitted along with the hard copies.

EVALUATION OF BIDS:
i. The Rig will be offered to the highest bidder.
ii. Bids must comply with all Government statutory requirements and financial regulations.
iii. Full payment should be made within 30days of the receipt of notification of the success of the bid.
iv. The Rig is to be sold “as is and where is” and no warranty or guarantee is given on the condition of the Rig.

NOTIFICATION OF RESULTS
Successful bidder(s) will be informed in writing by 14th June 2017. Communication may be made to multiple bidders) on the basis of “first to pay”. It is essential and mandatory that the successful bidder evacuates the Rig from its present site within 30 days of making full payment.

8. COMMUNICATION: All enquiries and Expression of Interest and Applications clearly marked “DELTA QUEEN” should be addressed to:

Mr. M. I. Igbokwe San
The Receiver Manager, Seawolf Oilfield Services Limited (In-Receivership)
C/O Mike Igbokwe (San) & Co.
28a, Mainland Wav, Dolphin Estate, Ikoyi-Lagos

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