Unassociated Document


    
      Yanchang
Petroleum (Group) Co., Ltd.

    

    


    
      Finished
Oil Sales Contract

    

    
       


      Contract
No.:20081223

    

    


    
      Supplier:
Yanchang Petroleum (Group) Co., Ltd.

    

    
      Purchaser:
Xi’an Baorun Industrial Development Co., Ltd.

    

    


    The
Supplier and Purchaser base on mutual benefits and friendly negotiations, in
regard to the purchase and sales of oil products of year 2009, reach agreements
as below:

    
       

      
        	
                1.

              	
                Item,
      Amount, Price:

              


      

       

    

    
      	
              Item

            	 	
              Amount

            	 	
              Price
      (Yuan/ Ton)

            	 
	
              Gasoline

                    
                Diesel

              

            	 	
              100000
                      
                80000

              

            	 	Execute
      in accordance with the price of Yanchang Oil
(Group)
      Co., Ltd.	 


    

     

    
      
        	
                2.

              	
                Technical
      Index:

              


      

    

     

    Execution
of Gasoline: GB17930-1999; Execution of Diesel: GB252-2000

    
       

      
        	
                3.

              	
                Shipping
      Location, Transportation and Relevant
Expense:

              


      

       

    

    
      
        	
                
                

              	
                (1)

              	
                Location:
      The refinery of Yanchang Oil (Group) Co.,
Ltd.

              


      

       

    

    
      
        	
                
                

              	
                (2)

              	
                Transportation:
      Highway and railway transportations

              


      

       

    

    
      
        	
                4.

              	
                Payment:

              


      

       

    

    Pay
before shipping items; V.A.T. invoices will be rendered in the middle and at the
end of the month.

     

    
      
        	
                5.

              	
                Other
      Covenants:

              


      

       

    

    
      
        	
                
                

              	
                (1)

              	
                Both
      Parties shall supply and pick up the items in balance in accordance with
      the contract; half a month for balance. In the event the Supplier ceases
      the work of shop, is under examinations and repairs and other special
      reasons, and cannot supply in accordance with the contract, it shall
      notify the Purchaser three days prior to such events. The Purchaser shall
      render RMB10 per ton of the amount specified in the contract as the
      security deposit. In case the Purchaser does not meet the amount set forth
      in the contract for special reasons, it shall notify the Supplier three
      days in advance. In the event the Purchaser does not meet the amount
      specified in the contract without a special reason, the security deposit
      shall be set off as a penalty for the unfulfilled amount at PMB10 per
      ton.

              


      

       

    

    
      
        
          	
                	
                  (2)

                	
                  Dispute:

                


        

      

       

    

    In case
any matter is not specified in the contract, both parties shall negotiate. In
the event both parties cannot reach agreements, they may submit a lawsuit to the
People’s Court at the execution location.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        
          	
                	
                  (3)

                	
                  The
      contract consists of three copies; the Supplier holds two copies and the
      Purchaser holds one
copy.

                


        

      

    

    


    
      Supplier:
Yanchang Petroleum (Group) Co., Ltd.

    

    Legal
Representative (Authorized Person): Gao Yihai (signature)

    (with
corporate seal)

    Tel:
029-88301132

    
      A/C Bank:
Gaoxin Branch of China Construction Bank

    

    


    
      Purchaser:
Xi’an Baorun Industrial Development Co., Ltd.

    

    Legal
Representative (Authorized Person): Wu Xiaojun (signature)

    (with
corporate seal)

    Tel:
029-82683629

    A/C Bank:
Dongjiao Branch of China Everbright Bank

    


    Location
of Execution: Sales Bureau of Yanchang Group

    Effective
Period: One Year