ParaFin Signs Agreement to Provide $21 Million Worth of Diesel Fuel on a Bi-Weekly Basis to Thailand Company
ParaFin Corporation : ParaFin Corporation (the Company) signed an agreement to sell 1,200,000 Metric Tons of High Speed Diesel #2 (8,760,000 barrels) to Wellsink Petroleum Co., Ltd. of Bangkok, Thailand. "The contract requires bi-weekly delivery of 50,000 Metric Tons of High Speed Diesel #2, which is valued at approximately USD$21,000,000.00. Price concessions, that were negotiated in exchange for terms, make the transaction very profitable for both companies," stated both parties to the Agreement. The transaction is now into the Banking confirmation stages to issue the Documentary Letters of Credit for payment of each Cargo delivery and a Stand-By-Letter-Credit as security for the contract. The company anticipates the deliveries to commence in November. The agreement with Wellsink is the first step in the Company's plan to create a presence in Southeast Asia. Representatives of the Company will be in Southeast Asia on September 10, 2006 to seek to secure other similar Agreements that may include Russian Export Blend Crude Oil and Saudi Light Crude. We are hoping that those contracts will be executed in the near future.
looks like it'll gap up to .38 on the open, I think this one can hit .50
Posts: 679 | From: New York | Registered: Jan 2006
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quote:Originally posted by 10of13: Any other info on this one?
Well hello there 10. If there is other info on this i think its up to us to find it eh? Im bombed with work this morning but im intend to start digging as soon as i can. Anything to keep my mind off of that "other" stock eh?
For starters it appears it might be Welsink and not Wellsink. Thats not a good start imo
Posts: 2308 | From: Michigan | Registered: Jun 2006
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