| 1. | Mr.                Xiu Hai Tian is a PRC natural person and legally holds 49% equity                of                Qinhuangdao Chensheng Gas Ltd (“Chensheng Gas”). |
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| 2. | Tianjin                SingOcean Public Utility Development Co., Ltd is a Sino-foreign                joint-venture, established legally in China and legally holds 99%                equity                of Hunchun SingOcean Energy Ltd. |
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| 3. | In                order to make full use of both Parties’ own advantages and resources in                operating the gas industry for development of the gas projects, the                parties hereto mutually agree as follows on the swap of the 49% equity                of                Chensheng Gas, hold by Party A, with the 99% equity of Hunchun SingOcean,                hold by Party B: |
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|   | 1) | Party                A represents that it has sole power to dispose of the equity that                is to be                swapped to Party B, that there exists no pledge or judicial attachment                on                the same equity, that the equity is free from any recourse from any                third                party. Otherwise Party A should be liable for all economic and legal                liabilities arising herefrom. Meanwhile the equity swap has been                consented                to by all the creditors. |
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|   | 2) | The                value of the equity and the transfer becomes                effective |
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|   | 3) | Allocation                of profits and losses of the swapped equity (rights and                debts) |
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|   | A. | Both                parties should be entitled to the profits and share the corresponding                losses and risks of the companies in accordance with their respective                proportions in the swapped equity once the registration for change                at the                AIC has been completed after the effectiveness of this                agreement. |
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|   | B. | When                one Party’s failure at its signing of this agreement to truthfully notify                the other party of the liabilities attaching to the swapped equity                brings                about losses to the other party after the latter becomes a shareholder                of                the company, the party that has incurred losses has the right to                claim for                compensation from the first party. |
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|   | 4) | Liability                for breach of the Agreement |
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|   | A. | Both                parties should conscientiously perform the agreement as soon as the                agreement becomes effective. A party should be held liable under                relevant                laws and the agreement if it has not fully performed its obligation                pursuant to the agreement. |
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|   | B. | When                any reason causes one party unable to complete the AIC registration                on                schedule or impacts materially on the fulfillment of the purpose                for                entering into the agreement, the other party should pay the liquidated                damage in the amount of one ten thousandth of the value of the equity.                When the amount of the liquidated damage is less than the actual                losses,                the delinquent party shall pay additional                damages. |
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|   | 5) | Amendment                and termination of the agreement |
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|   | 6) | Expenses |
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|   | 7) | Dispute                Resolution |
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|   | 8) | Effect                of the agreement |
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|   | 9) | This                Agreement is signed in six copies. Each party holds one copy, and                the                other copies shall be submitted to the relevant governmental departments. |
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