MIRA INFORM REPORT

Report Date :

21.12.2011

IDENTIFICATION DETAILS

Name :	BRIDGE OIL LTD
Registered Office :	Boundry Hall Cricket Square PO Box 1111 Grand Caymany KY 1102 Cayman Islands BWI
Country :	Cayman Islands
Year of Establishment :	2000
Com. Reg. No.:	120212
Legal Form :	International Business Company
Line of Business :	Offshore Company
No. of Employees :	0

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 160,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Cayman Islands	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

GEOPOLITICS - CAYMAN ISLANDS
POLITICAL DATA	ECONOMIC DATA
Form of Government: British overseas territory - Parliamentary system Economic Risk: Nil	Currency: 100.00 KYD = 118.822 USD Branch Situation: Stable

IDENTIFICATION
Legal Name:	Bridge Oil Ltd
Legal Address	Boundry Hall Cricket Square PO Box 1111 Grand Caymany KY 1102 Cayman Islands BWI
Telephone:	+1 (345) 949-5122	Registration Number :	120212
Fax:	+1 (345) 949-7920	Legal Form:	International Business Company
Email:	N.A.	Registered in:	Cayman Islands
Website:	N.A.	Date Created:	2000
Manager:	R. STRAUSS, Chairman	Date Incorporated:	September 2002
Staff:	0	Stock:	N.A.
		Value:	N.A.
Activity:	Offshore company

BANKS
Name of the Bank	CIBC
Name of the Bank	Danske Bank A/S
Location	Copenhagenk Denmark

BUSINESS
PRINCIPAL ACTIVITY
	BRIDGE OIL LTD is an International Business Company / Offshore Company incorporated in The Cayman Islands for tax purposes. However, the company does not carry any operation in The Cayman Islands. It is not registered with The Cayman Islands Chamber of Commerce as being an active business. It is not listed with The Cayman Islands yellow pages. It is not listed with the major local credit bureaus. The company does not have any employee in The Cayman Islands. It uses the registered agent staff.
Trade References:
	Trade references: In virtue of the nature of its business activities its local transactions are seldom. Therefore, commercial sources consulted in the marketplace report that they are unable to establish subject's payment performance and general reputation regarding commitments contracted as same it is UNKNOWN as making use of credit facilities.
PAYMENTS
	Made on a 30 days basis - monitored over the last 12 months.
LOCATION
Headquarters
	The Address mentioned above is that of the registered agent: Boundry Hall Cricket Square PO Box 1111 Grand Caymany KY 1102 Cayman Islands BWI Tel: + 1-345-949-5122 Fax: + 1-345-949-7920 Administered by Mrs. Lori Adams (loria@paget-brown.com.ky) and Mr. Sydney J. Coleman
Shareholders - Manager - Related Companies
Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company is owned by foreign shareholders.
Management:
	It is locally managed by the registered agent mentioned above. The agent declined to give any information on the subject, who is protected by the law of non disclosure.
Related Companies:
	Subsidiary companies: 1) KPI Bridge Oil London Ltd – 36 Broadway, London, SW1H 0BH 2) KPI Bridge Oil Singapore Pte Ltd – 1 Raffles Place #41-02, OUB Centre, Singapore 048616, Singapore. 3) KPI Bridge Oil Denizcilik ve Ticaret Ltd Sirketi – Prof. Dr. Bulent Tarcan Cad., Vefa Bayiri Sok, Gayrettepe Is Merkezi 4 C Blok Kat 7 Daire 9, Fulya Mahallesi, 39394 Sisli, Istanbul, Turkey.

Financials - COMMERCIAL TRENDS AND FORECAST
The Subject Company is registered as International Business Company in The Cayman Islands and is therefore exempt from filing and/or publishing Annual Audited Accounts at the Registrar of Companies, under The Cayman Islands Law. In addition, due to the laws of privacy governing disclosure of BANKING INFORMATION, we are unable to demand a copy of the subject s Latest FINANCIAL STATEMENTS.
However our financial sources could provide us with the following data (estimates):
Currency	DATE
USD	2009
Turnover	0
Operating Income	4,300,000
Net Income	4,300,000
Net worth	15,000,000
Bank liabilities	0
The cash flow is	GOOD

Currency	DATE
USD	2008
Turnover	0
Operating Income	5,800,000
Net Income	5,800,000
Net worth	11,000,000
Bank liabilities	0
The cash flow is	VERY GOOD

Comments on the financial data: At this time, the 2010 financial figures were neither revealed nor released to our sources

Legal Fillings

The sources consulted record no detrimental legal or labor court information.

Rating
Local credit bureau did not rate this company.
Final Opinion
	We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in The Cayman Islands, it uses such territory only as its legal and administrative address, but all its operations are carried out abroad. It is managed by a resident registration agent and it is unknown in the marketplace, so its commercial morality and general reputation cannot be assessed, although nothing detrimental is noted upon subject. Although there was no financial information found for the year 2010, our financial sources provided us with the financial figures for the year 2008 and 2009. The company's revenue decreased on a 25% for the year 2009 compared to the revenue for the year 2008. A credit line may be considered for USD 160,000

SUMMARY
FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public	NO
Indebtedness	NIL	Payments	REGULAR
Cash	NORMAL

APPENDIX
Person Interviewed
	Lori Adams
Comments
	We've contacted the registered office, but she refused to provide any information about the company on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.03
UK Pound	1	Rs.82.34
Euro	1	Rs.68.99

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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