BIAFRA Kilimanjaro Capital Ltd. on December 17th

BIAFRA

Kilimanjaro Capital Ltd. on December 17th 2012 signed an Oil & Mineral Assignment Agreement with the Biafran Government in Exile to obtain 49% of the ownership of all onshore and offshore oil and mineral rights in Biafra. The region contains Africa's largest known petroleum reserves and significant untapped opportunities for gold, uranium, coal and other resources. Biafra's borders are over 29,848 square miles (77,310 km2) of land including the Niger Delta. Kilimanjaro Capital succeeds Banque Rothschild of Paris which was the original Biafran concession holder.

OIL

The Niger Delta has become Africa's biggest producer of petroleum. Some 2 million barrels (320,000 m3) a day are extracted in the Niger Delta. First oil operations in the region originated in 1950s and were undertaken by Multinational Corporations, which provided Nigeria with necessary technological and financial resources to extract oil. Much of the natural gas extracted in oil wells in the Delta is immediately burned, or flared, into the air at a rate of approximately 70 million m³per day. This is equivalent to 41% of African natural gas consumption.

COAL

In addition to well documented oil reserves, Biafra contains major coal deposits, which are not currently under production. The Enugu Coal District, covering 270,000 hectares of the coal basin, is centred around Enugu City, south of the Benue District. It has supported the largest amount of commercial mining in the past. In addition to two underground mines, there are a total of 36 drill holes drilled in the area. Previous studies have estimated the demonstrated coal resource to be 49 million tonnes averaging 2.2 meters thick. An additional 111 million tonnes of in place coal are inferred to exist west of the old mine workings.

The dormant Biafran coal assets even while awaiting independence may be utilized as credits on the carbon emissions market. Their future reserve (non use) value may be packaged by a carbon credit aggregator for credits now. For trading purposes, one allowance or Certified Emission Reduction (CER) is considered equivalent to one metric tonne of CO2 emissions. These allowances can be sold privately or in the international market at the prevailing market. While the carbon market is complex, CERs vary in price between $3 to $15 per unit depending on perceived quality and are becoming an increasingly accepted form of investment.

MINERALS

Uranium deposits have been located by the British Geological survey in Biafra's Cross River, Bayelsa and Akwa Ibom states. Gold deposits exist in Abia, Ebonyi, and Edo states. Coltan (Columbite and Tantalite) exists in Biafra, currently being clandestinely produced by artisanal (small scale) mines and which is in high demand by the computer-electronics industry.