Ziad K. Abdelnour, President & CEO Blackhawk Partners, Inc, the New York_based advisory firm on such matters, puts it this way: "Giving a Letter of Intent only means 'Yes I'm intent to buy the goods but I can change my mind anytime.' A letter of Intent is not a binding contract. [Hence] The Letter of Intent is a total waste of time on a worthless piece of paper."
He is a Crude Oil Buyers' Mandate for several giant U.S. and European crude oil and petroleum products buying houses and refineries, and a Consultant, as well, to private investors, entrepreneurs and corporations on how to obtain genuine crude allocation and license with the Nigerian authorities to become an authorized seller of Nigerian crude oil. He has been severally dubbed the "unofficial anti_scam czar" and the "conscience of the business" in the modern Internet petroleum trading market.