MEMORANDUM OF UNDERSTANDING

This memorandum of Understanding (MOU) is made on 23rd Januari 2009 by and between PT. USAHA CATUR MITRA ( hereinafter referred to as PT. Usaha Catur Mitra) a corporation duly organized and existing under the laws of Indonesia with its prncipal office at Jl. Mangga Dua Raya No.39 Jakarta Indonesia represented by Yenny Kumalawati Budiman and Global Energy (Asia) Pte. Ltd. (hereinafter referred to as global Energy), a company duly organized and existing under the laws of SINGAPORE domicilied (438 Alexandra Road #17-02/03 Alexandra Point, Singapore 119958). PT. USAHA CATUR MITRA and Global Energy collectively referred to as the Parties. RECITALS 1) 2) 3) 4) PT. USAHA CATUR MITRA the company which is involved in downstream oil and gas activities and has the intention to expand their business for Fuel oil Trading in Indonesia. Global Energy is the company which is involved in Trading Oil activities and has the intention to supply fuel oil for Indonesian market. Both parties, PT. USAHA CATUR MITRA and Global Energy, have recognized the strengths of each other cooperate in marketing and trading of Fuel Oil Industries. PT. USAHA CATUR MITRA and Global Energy, with the signing of this MOU, set forth the basic principles and understandings for the establishment of their collaboration and cooperation for the Trading of Fuel Oil in Indonesia. NOW, THEREFORE, the understandings of both Parties are set out as follows: Global Energy will supply The fuel oil as required by PT. USAHA CATUR MITRA as agreed term and condition to be mutually agreed by both parties. IN WITNESS WHEROF, the parties have duly executed this MOU, the day and year above written. PT. USAHA CATUR MITRA GLOBAL ENERGY (ASIA)PTE. LTD.

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