Unassociated Document


    
       

      Exhibit 10.3

       

      MUTUAL
RELEASE 

      
        

      

    

    


    This
Mutual Release (the “Release”) is made and effective [DATE],

     

    
      	
              BETWEEN:

            	
              Wellington
      Capital Management Inc., (the "First Party")
      whose address is,
      Centerville House, 4th Floor, 2nd Terrace West, Nassau, Bahamas, a
      Bahamas corporation,

            


    

     

    
      	
              AND:

            	
              Tiger
      Renewable Energy Ltd., (the "Second
      Party") whose
      address is, Sino Favour
      Centre, 1 On Yip Street, Suite 1302, Chai Wan, Hong
      Kong, a Nevada
      Corporation,

            


    

    


    RECITALS

    


    NOW
THEREFORE, in consideration of the terms and covenants of this agreement, and
other valuable consideration, the parties agree as follows:

     

    TERMS

    


    
      	
               
      

            	
              1.

            	
              The
      undersigned hereby finally and irrevocably mutually release each other
      from all liability to each other, and settle all actions and causes of
      action against each other, for damages, loss or injury sustained by either
      of them, however arising, present and future, known and unknown at this
      time, relating to the Working Interest Purchase and
      Sale Agreement entered into by both parties on the 29th
      day of January, 2009 concerning the GP project, which was
      mutually terminated without penalty by both parties on 28th
      day of April, 2009 and the Convertible Note Agreement
      entered into both parties on the 2nd
      day of February, 2009 concerning a 8% Convertible Promissory Note in the
      amount of US$ 1,000,000, which was mutually terminated without penalty by
      both parties.

            


    

    


    
      	
               
      

            	
              2.

            	
              If
      either party has instituted any legal proceedings against the other
      settled by this release, that party covenants to have them dismissed at
      that party's cost with express prejudice to bringing further proceedings
      against the other arising out of the same
  matter.

            


    

    


    
      	
               
      

            	
              3.

            	
              It
      is agreed that neither party to this mutual release will make any claim or
      take any proceedings against any person who might claim over against or
      claim contribution or indemnity from the other party in connection with
      any matter for which this mutual release is
  given.

            


    

    


    
      	
               
      

            	
              4.

            	
              It
      is understood and agreed that nothing in this mutual release is to be
      construed as an admission of liability in connection with any matter for
      which this mutual release is given.

            


    

    


    
      	
               
      

            	
              5.

            	
              The provisions of this Agreement
      must be read as a whole and are not severable and/or separately
      enforceable by either party
hereto.

            


    

     

    
      
        	            
      
	
                Mutual
      Release

              	
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    IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
and delivered as of the date first above written.

    


    
      	
              FIRST
      PARTY

            	 
      	
              SECOND
      PARTY

            
	 
      	 
      	 
      
	     
      	 
      	    
      
	
              Authorized
      Signature

            	 
      	
              Authorized
      Signature

            
	 
      	 
      	 
      
	      
      	 	     
      
	
              Print
      Name and Title

            	 
      	
              Print
      Name and Title

            


    

     

    
      	            
      
	
              Mutual
      Release

            	
                       Page 2
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