June 28, 2012



Mr. Alejandro Perales

2554 Cedar Ridge Lane

San Angelo, Texas 76904



| | Re: | Relinquishment of repurchase rights
| | --- | -----------------------------------



Dear Mr. Perales:



This letter agreement
is meant to memorialize certain understandings among you (on behalf of the former members of AACM3, L.L.C., a Texas limited liability
company doing business as Petro 2000 Exploration (“Petro 2000”), and PetroGreen Energy, LLC, a Nevada limited liability
company (“PetroGreen”)), Adino Energy Corporation (“Adino”), and Gator-Dawg Drilling, LLC (“Gator-Dawg”).



| | 1. | Upon Adino’s compliance with the other terms set
forth herein, the former members of Petro 2000 and PetroGreen (the “Sellers”) shall no longer have the right, as previously
set forth in the agreement of July 29, 2010 between the Sellers and Adino, to repurchase the assets of Petro 2000 and PetroGreen.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Upon execution of this letter agreement, Adino agrees
to release the 10,000,000 shares of Adino common stock currently being held in escrow to the Sellers in the amounts previously
agreed to, regardless of the closing price of Adino’s common stock.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | As further consideration for this agreement, Gator-Dawg
agrees to transfer title to the trailer mounted single lay down derrick drilling rig, N-3 Brewster draw works, 80,000# blocks
to AACM3, L.L.C. (the “Transferee”). Upon the Transferee’s request, Gator-Dawg will prepare and deliver to the
Transferee a bill of sale stating nominal consideration for such transfer.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | As additional consideration for this agreement, Adino
agrees to sell one hundred percent (100%) of the membership interest of AACM3, L.L.C., a Texas limited liability company, to Alejandro
Perales.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



All other agreements
between Adino and the Sellers remain in force.



| |     | ADINO ENERGY CORPORATION
| | --- | ------------------------
| |     |                         
| | By: | /s/ Timothy G. Byrd, Sr.
| |     | Timothy G. Byrd, Sr.    
| |     | Chief Executive Officer 











| | ALEJANDRO PERALES       
| | ------------------------
| |                         
| | /s/ Alejandro Perales   
| |                         
| | Gator-Dawg Drilling, LLC





| | By:    | /s/ Sonny Wooley
| | ------ | ----------------
| |        |                 
| | Name:  | Sonny Wooley    
| |        |                 
| | Title: | President