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LOAN AGREEMENT

between

EDI Exploration Drilling International Holding GmbH
represented by the Managing Director Günter Thiemann Goethestrasse
59, 45721 Haltern am See

- in the following referred to as
lender -

and

EDI Exploration Drilling International GmbH, represented by
the Managing Director Christian Runge Goethestrasse 59, 46721 Haltern am
See

- in the following referred to as borrower -

§ 1 Granting of loan

| | 1. | The lender grants the borrower a loan
      in the amount of                                                                                                   
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------
| |    | Euro                                                                                                                                                           
| |    | (in words: sixty-three thousand nine
      hundred and fifty Euro)                                                                                             
| |    |                                                                                                                                                                
| | 2. | The loan shall be paid out by
      transfer into the borrowers account at the ********* *********** ***,
      **** **** *** *** **, ******* ****** ** ** **.

§ 2 Interest, term and repayment of loan

| | 1. | The annual interest payable on the loan shall be 5.0
      %.                      
| | -- | -----------------------------------------------------------------------------------
| | 2. | The term of the loan shall be 12 months, and ends on
      30/06/2009.             
| | 3. | The loan shall be repaid on 30/06/2009 by transfer into
      the lenders account.

§ 3 Early repayment

The borrower is entitled to repay the loan including
accumulated interest in one lump sum at any time before the end of the term of
the loan. A prepayment penalty shall not be due.

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§ 4 Extraordinary right of cancellation

The lender is entitled to recall the loan effective
immediately, if the borrowers financial circumstances deteriorate considerably,
thus putting the claim of repayment at risk.

§ 5 Securities

The borrower irrevocably transfers all of his claims as
managing director or shareholder from any benefits, to which he is entitled,
(salary claims, profit distributions, new shares issued, profit and loss
transfers, liquidation proceeds, etc.) to the lender.

§ 6 Supplementary agreements, amendments, severability,
executed copies

| | i.   | There are no supplementary agreements. Amendments,
      additions as well as deletions, even of individual provisions of this
      agreement must be made in writing in order to be effective.                                                                                                                                            
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                                                                                                                                                                                                                                             
| | ii.  | Should individual provisions of this agreement be
      invalid, the remainder of the agreement shall not be affected. In this
      case, the parties to the agreement are required to assume that a
      replacement provision has been agreed to, which fulfils the economic
      purpose of the invalid provision as much as possible.
| |      |                                                                                                                                                                                                                                                                                                                                             
| | iii. | This contract shall be issued in duplicate. The lender
      and the borrower shall each receive a copy signed by both parties to the
      agreement.                                                                                                                                                                                      

Haltern, on 01/07/2008

|[Signature]                                         |  | [Signature]                                
|--------------------------------------------------- |  | -------------------------------------------
|                                                    |  |                                            
|EDI Exploration Drilling International Holding GmbH |  | EDI Exploration Drilling International GmbH
|Managing Director, Günter Thiemann                  |  | Managing Director, Christian Runge         
|- Lender -                                          |  | - Borrower -                               

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