I'm lost and I suspect most N. Am investors are too. The first short term "loan" to is at 10% and it appears that this would be funds for a 2nd "loan" at whatever % it comes out at. If the revenues are sufficient then it floats and any excess accrues to OER. At this point there isn't enough information to make heads or tails out of this.
Maybe Chevron decided that the LNG terminal was just too expensive given the collapse of the NG price and that Nigeria is a dangerous and corrupt sinkhole. I looked up the OER headquarters on a "gated" luxury island off Lagos with $250 per night low end hotels (where average income is under $2,500 yr.), saw hellish oil pollution in the Delta, hordes of angry natives and Somali like oil pirates.
This is beginning to look like a high risk Nigerian scam, or the old slave market at Zanzibar. Even if Executive Outcomes was supplying "security" this looks very shaky. Maybe this is best left to the Chinese since they are pretty ruthless and comfortable with the African Way of doing business: no rule of law, no transparency.