| 1.   | WDX ORGANISATION LIMITED (registered in England and Wales under number 06584607) whose registered office is at 83 Askew Crescent, Shepherds bush, London W12 9DW (the “Borrower”); and |
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| 2.   | FLEX FUELS ENERGY INC a Nevada Corporation (IRS Employer Identification No -20-5242826) having a principal office at 502 East John Street, Carson City, Nevada, 89706, USA  (the “Lender”). |
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| A. | The Lender and the Borrower entered into a loan agreement on 1 May 2009 under which the Lender made available to the Borrower a £150,000 loan facility (the “Original Loan”) which has been drawn down in full by the Borrower and remains outstanding (the “Loan Agreement”). |
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| B. | The Lender and the Borrower also entered into an option and funding agreement dated 1 May 2009 under which, among other things, the Lender was granted certain options over shares in the capital of the Borrower (the “Options”) and the Lender made available a £450,000 loan facility to the Borrower (the “Option Loan”) which has been drawn down in full by the Borrower and remains outstanding (the “Option and Funding Agreement”). |
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| C. | As at the date of this Deed, the Options have been exercised in full and the shares arising on exercise of the Options have been allotted and issued to the Lender pursuant to the terms of the Option and Funding Agreement and the Borrower’s articles of association. |
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| D. | The Borrower and the Lender have agreed to consolidate the Option Loan with the Original Loan on the terms of the Loan Agreement as varied by this Deed.  In consideration of doing so, immediately following such consolidation and variation in accordance with this Deed, the Borrower and the Lender have agreed to terminate the provisions of the Option and Funding Agreement. |
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| 1.   | INTERPRETATION |
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| 1.1   | The term “Deed” means this deed of variation of a loan agreement dated 1 May 2009 which shall include the Recitals and the Operative Provisions. |
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| 1.2   | Unless a contrary intention is indicated: |
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| 1.2.1   | words, expressions and the interpretational references as set out in the Loan Agreement shall have the same meanings in this Deed. |
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| 1.2.2   | references to Clauses are to clauses of this Deed. |
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| 1.3   | Headings in this Deed are inserted for convenience only and shall be ignored in construing this Deed. |
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| 2.   | VARIATION OF THE LOAN AGREEMENT |
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| 2.1   | This Deed is supplemental to and varies the Loan Agreement. |
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| 2.2   | With effect from the date of this Deed the Loan Agreement shall be varied as follows: |
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| 2.2.1   | Clause 1.1 of the Loan Agreement shall be varied by the insertion of a new definition at the beginning of clause 1.1, being: |
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| 2.2.2   | The definition of the term “Articles” in clause 1.1 of the Loan Agreement shall be deleted entirely and replaced with the following: |
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| 2.2.3   | The definition of the term “Free Cash” shall be deleted entirely; |
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| 2.2.4   | The definition of the term “Finance Documents” in clause 1.1 of the Loan Agreement shall be varied such that this Deed shall be designated a Finance Document by the Borrower and the Lender for the purpose of part (d) of that definition; |
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| 2.2.5   | The definition of the term “Investment Agreement” in clause 1.1 of the Loan Agreement shall be deleted entirely and replaced with the following: |
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| 2.2.6   | The definition of the term “Lender’ Solicitors” in clause 1.1 of the Loan Agreement shall be deleted entirely; |
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| 2.2.7   | The definition of the term “Listing” in clause 1.1 of the Loan Agreement shall be deleted entirely and replaced with the following: |
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| 2.2.8   | The definition of the term “Sale” in clause 1.1 of the Loan Agreement shall be deleted entirely and replaced with the following: |
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| 2.2.9   | The definition of the term “Transaction Document” in clause 1.1 of the Loan Agreement shall be varied such that this Deed shall be designated a Transaction Document by the Borrower and the Lender for the purpose of that definition; |
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| 2.2.10   | The first sentence of clause 2.1 of the Loan Agreement shall be deleted and replaced with the following new clause 2.1: |
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| 2.2.11   | The first sentence of clause 4.1 (Calculating interest) of the Loan Agreement shall be deleted entirely and replaced with the following new clause 4.1: |
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| 2.2.12   | Clauses 6.1 to 6.3 (Repayment) (inclusive) of the Loan Agreement shall be deleted in their entirety and replaced with the following new clauses 6.1, 6.2 and 6.3: |
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|   | “6.1 | The Borrower shall repay the Loan to the Lender in the amounts and on the dates set out below: |
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|   | together with all accrued interest (whether or not compounded at such time) on such principal amount calculated down to each such Repayment Date. |
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|   | 6.2 | Immediately prior to or simultaneous with the occurrence of a Sale or a Listing, and prior to any distribution to any of the holders of shares in the Borrower in respect of their shares, the Loan (and all accrued interest and all other sums due in respect of the Loan) shall become immediately repayable in full by the Borrower. |
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|   | 6.3 | The Borrower may, on giving not less than ten Business Days written notice to the Lender (which once given shall be irrevocable), prepay the whole or any part of the Loan to the Lender at any time provided that: |
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|   | 6.3.1 | the notice specifies the amount and the date of the prepayment which, if it is less than the whole of the principal outstanding under the Loan, must be a minimum of £[30,000] and tranches of not less than £10,000; |
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|   | 6.3.2 | the Borrower at the same time pays all unpaid interest accrued on such prepaid amount together with all other amounts due on that prepaid amount, in each case calculated down to the date of prepayment. |
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|   |   |
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| 2.2.13   | Clauses 6.4 and 6.5 of the Loan Agreement shall be deleted in their entirety; |
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| 2.2.14   | Clause 6.6 of the Loan Agreement shall be re-numbered as clause 6.4; |
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| 2.2.15   | The Address for service set out in Clause 18.2.2 shall be replaced by the following: |
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| 2.2.16   | The fax number for service set out in Clause 18.2.2 shall be replaced by the following: |
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| 2.2.17   | Schedule 2 (Drawdown Notice) of the Loan Agreement shall be deleted in its entirety and replaced with the following: |
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|   | “Schedule 2 – Drawdown Notice |
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| 1.   | We refer to the above Loan Agreement.  Expressions defined in the Loan Agreement will have the same meaning in this notice. |
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| 2.   | We hereby give to you notice that we wish to drawdown the sum of £● (●[amount in words]  pounds sterling) upon the terms and subject to the conditions contained in the Loan Agreement as follows: |
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| 3.   | As at the date of this Drawdown Notice: |
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| 3.1   | the Warranties are true, accurate and not misleading in all material respects; and |
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| 3.2   | no Event of Default has occurred and is continuing or would result from the proposed drawdown. |
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| 2.3   | The Borrower irrevocably agrees that notwithstanding the variation of the Loan Agreement effected by this Deed, save as amended by this Deed: |
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| 2.3.1   | each Finance Document to which it is a party remains in full force and effect and its obligations thereunder continue to be legal, valid and binding and enforceable in accordance with their respective terms; |
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| 2.3.2   | nothing contained in this agreement shall discharge the liability of any of the Borrower to meet any of its obligations under the Finance Documents; |
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| 2.3.3   | all security granted by each the Borrower in favour of the Lender pursuant to the Debenture remains in full force and effect and extends to all liabilities and obligations of the Borrower to the Lender in respect of the Loan and under the Loan Agreement, in each case as varied by this Deed; |
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| 2.3.4   | the provisions of the Loan Agreement shall continue in full force and effect and there shall be no deemed waiver by any party to the Loan Agreement of any of the obligations of any such party by virtue of the signing of this Deed. |
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| 2.4   | Except as herein expressly varied, the terms and conditions of each Transaction Document are hereby confirmed by the parties, and any reference therein to the “Loan Agreement” shall, unless the context otherwise requires, be construed as a reference to the Loan Agreement as varied by this Deed. |
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| 2.5   | To the extent there is any conflict between the provisions of the  Loan Agreement and this Deed the provisions of this Deed shall prevail. |
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| 3.   | REPRESENTATIONS |
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| 4.   | CONTINUATION OF RELEVANT AGREEMENTS |
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| 5.   | COUNTERPARTS |
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| 6.   | GENERAL |
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| 6.1   | The parties hereby agree to take all steps and execute and deliver all documents or deeds or notices necessary (at the cost of the Borrower) in order to give effect to the provisions of this Deed. |
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| 6.2   | Save as set out in this Deed, the provisions of clauses 13, 14, 16, 18 and 21 of the Loan Agreement shall apply, mutatis mutandis, to this Deed. |
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| 6.3   | This Deed and any dispute or claim arising out of or in connection with it or its subject matter (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of England and Wales. |
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| 6.4   | The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this Deed or its subject matter (including non-contractual disputes or claims). |
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| Executed as a deed byWDX Organisation Limitedacting by a director in the presence of                 | )        | /s/ E M King    |
|------------------------------------------------------------------------------------------------------|----------|--------------------------------|
| )                                                                                                    |     |
| )                                                                                                    | Director |
|                                                                                                 |     |
| /s/ Herdeep Sian               |     |                           |
|                                                                                                 |     |                           |
| Signature of witness                                                                                 |     |                           |
|                                                                                                 |     |                           |
| Name Herdeep Sian                                                                                    |     |                           |
|                                                                                                 |     |                           |
| Address Staple Court, 11 Staple Inn Buildings, London WC1V 7QH                                       |     |
|                                                                                                 |     |                           |
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|                                                                                                 |     |                           |
| Occupation Solicitor                                                                                 |     |                           |

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| Executed as a deed byFlex Fuels Energy, Incacting by its duly authorised officerThomas Barrin the presence of:  | )                                                                                                                            |   |
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| )                                                                                                                    | /s/ T Barr                    |
| )                                                                                                                    | Authorised officer                                                                                                           |
|                                                                                                                 |                                                                                                                         |
| /s/ Herdeep Sian                                         |                                                                                                                         |   |
|                                                                                                                 |                                                                                                                         |   |
| Signature of witness                                                                                                 |                                                                                                                         |   |
|                                                                                                                 |                                                                                                                         |   |
| Name Herdeep Sian                                                                                                    |                                                                                                                         |   |
|                                                                                                                 |                                                                                                                         |   |
| Address Staple Court, 11 Staple Inn Buildings, London WC1V 7QH                                                       |                                                                                                                         |
|                                                                                                                 |                                                                                                                         |   |
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|                                                                                                                 |                                                                                                                         |   |
| Occupation Solicitor                                                                                                 |                                                                                                                         |   |

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