(ENDBUYER’sLETTERHEAD)To:Mr.VladimirBogdanovDate:November22,2011GeneralDirector,CEOReferenceNo:OAOSURGUTNEFTEGASAddress:1KukuevitskogoSt.Surgut,Tyumen628415RussiaVIA:MrZainRais,OfficialMandateMrAsmaniNyarman,OfficialReptoMandateThrough:MsLinXia(EchoLin),MrLawrenceCheong,MrLiMingjun,MrDingGuoqingRE:IRREVOCABLECONFIRMEDPURCHASEORDER(ICPO)We,…………………………………………………………….,representedbyMr………………………………………………………underpenaltyandPerjuryherebyconfirmthatweareable,readyandCapabletopurchasetheunderlistedProductsforImmediateContractsales.TheSupplyisguaranteedtomeettheSpecificationsandpassthroughthestringentrequirementsofSGSorEquivalent.TermsofNegotiationDelivery:CIFAnySafeWorldPort.PaymentTerm:StandbyLetterofCredit(SBLCMT760)orMT103\23(Negotiable)PerformanceBond:2%operativePBwillbeissuedfromSeller'sbanktothebuyer'sbank.Quality:Q&QtestreportwillbeconductedattheloadingportbySGSorEquivalentatsellerexpenseProductsOrigin:RussiaFederationCommodityMAZUTM100/75OriginRussiaQualityGOST10585-75Quantity50,000MT/Monthx12monthsPeriod12Months(Upto600,000MetricTons)andPossibleRollover)PriceFixedUSD:385DeliveryCIFCHINA/AllSafeWorldPort(ASWP)ShipmentAs/contractScheduleTobeagreeduponPerformanceBond2%BySellerCommissionASAGREEDValidity7workingdaysfromthedateofthisICPOREFINERYTERMS&PROCEDURES1.BuyerIssuesICPO/LOIwithFullBankingDetailsWithaletterofPermissionforSoftProbe2.SellerIssuesSalesandPurchaseAgreement(SPA)3.BuyerSignandReturnthe(SPA)DraftContracttoSeller4.BuyerobtainsthepurchaseApproval&Allocationcode&transactionpassportforthecontractwhichidentifiesthebuyerastheTitleholderoftheAllocationandtoenablethelodgingofthecontractwiththeirrespectivebanks.(FeepayablebybuyerUSD:78,850)5.SellersendsviaExpressCouriertheRegisteredHardCopiesoftheContracttotheBuyer6.BothPartiesLodgestheircopiesoftheRegisteredContractwiththeirrespectivebanks.7.SellerAppointsandSignCharterPartyAgreementwiththeShippingCompany.8.BuyerContactstheShippingCompanytosummarizetheshippingschedule.9.Seller'sbanksendsthroughswifttheProofofProduct(POP)documentsalongwiththe2%operativeperformancebondtobuyer’sbank10.TheFullPOPshallincludethefollowingdocumentsa)product/productionallocationapplicationpermits,(b)product/productionallocationownershiptitle(c)Applicationandownershipofexportpermits,(d)Exporttaxanddutiespaymentreceipts(e)Bulkingstoragetank&paymentreceipts,(f)Certificateofanalysis(g)Certificateoforiginandcustomsdeclaration,(h)Certificateofquality(i)Certificateofweight,(j)BillofLading,(k)DiptestAuthorization(Onlyappliestoproductliftedfromstorageortransfertanks).(l)Copyofthecharterpartyagreementstotransporttheproducttodischargeport.(m)Copyoftherefinerycommitmenttoproducetheproduct10.BuyerbankswiftsIrrevocableTransferable/Non-TransferableDocumentaryLetterofCredittoSellerbank11.ShipmentcommencesasscheduledintheContract.12.Selleroutpaystheintermediariesinvolvedwithin48hoursuponreceiptofbuyer'soperativefinancialInstrument.BUYER’SINFORMATION:COMPANYNAME:……………………………………………NameofRepresentative:MR…………………………………….Title:PRESIDENTDIRECTOR/CEOCompanyRegistrationNo:Address:PhoneNo:Fax:BANKINFORMATION:BankName:Branch:Address:AccountName:BankOfficer:BankTelNo:YoursFaithfully______________________Buyer’sSignatureandStamp