Exhibit 10.5


 


ASSET TRANSFER DEED ADDENDUM


 


BETWEEN


 


ASIA PACIFIC ENERGY VENTURES PTE. LTD.


 


AND


 


PACIFIC ENERGY CONSULTING LIMITED


 


AND


 


T20 HOLDINGS PTE. LTD.


 




    	 		 



     


    

  


ASSET TRANSFER DEED SECOND ADDENDUM dated this
28th day of July, 2022 by and between:


 


		1.	ASIA PACIFIC ENERGY VENTURES PTE. LTD., having its registered office at 10 Anson Road, #13-09
International Plaza, Singapore 079903 (hereinafter referred to as “APEV”); and



 


		2.	PACIFIC ENERGY CONSULTING LIMITED, having its registered office at level 6, MRDC Haus, Corner
of Champion Parade & Musgrave Street, Port Moresby, National Capital District, 121, Papua New Guinea (hereinafter referred
to as “PEC”); and



 


		3.	T20 HOLDINGS PTE. LTD., having its registered office at 3 Phillip Street #19-01, Royal Group
Building, Singapore 048693 (hereinafter referred to as “T20”).



 


WHEREAS:


 


		A.	T20 entered into an Asset Transfer Deed with APEV and PEC dated 30 June 2022 (the “Deed”)
as part of T20’s plans to list on the NASDAQ stock exchange. The Parties subsequently entered into an Addendum to the Deed
on 6 July 2022 (the “First Addendum”).



 


		B.	Based on advice from T20’s underwriter for the NASDAQ listing, the amount being raised has
been revised thereby impacting the basis upon which T20 will issue the Consideration Shares.



 


		C.	The values of certain Specified Assets must also be adjusted to correct minor errors in the Deed
and the First Addendum.



 


		D.	APEV and PEC agree to transfer its legal and beneficial interests in the Specified Assets to T20
pursuant to this Asset Transfer Deed Addendum (this “Addendum”) to give effect to the purpose of this Deed.



 


IN CONSIDERATION OF THE TERMS AND COVENANTS HEREIN,
THE PARTIES AGREE AS FOLLOWS:


 


		1.	PURPOSE OF THIS ADDENDUM



 


The purpose of this Deed is to revise the number and
value of Consideration Shares and correct the values of certain Specified Assets.


 




    	 		 



     


    

 








		2.	ADJUSTMENT TO CONSIDERATION SHARES



 


In furtherance of the purposes of the Deed, the Parties
agree to replace clause 8 of the Deed with the following:


 


8. CONSIDERATION


 


In consideration of the transfer of the Specified Assets
set out in clause 2 for a cumulative value of Eleven Million Three Hundred and Ninety Thousand Six Hundred and Twenty-Nine US Dollars
(US$11,390,629), T20 will issue, and each of APEV and PEC accept, in full and final satisfaction of all obligations of T20 under
this Deed, Fifteen Million Eighty-Three Thousand Four Hundred and Ninety-Eight (15,083,498) new ordinary shares in T20 (the “Consideration
Shares” and each, a “Consideration Share”) at the issue price of US$0.7551715789 per Consideration Share to the
following persons nominated by APEV and PEC in the following proportions:


 





	Snowfields Wealth Management Limited	 	 	7,115,077	 
	Seasons Cove Limited	 	 	3,300,357	 
	Tanuki Holdings Limited	 	 	2,403,212	 
	Fuato Limited	 	 	2,264,852	 








 





The total consideration for the transfer of the Specified
Assets shall be the Asset Sale Amount, and the Asset Sale Amount shall be allotted to the Specified Assets on the basis set out
in Schedule 1.


 


Upon the allotment of the Consideration Shares as contemplated
in this clause, APEV and PEC shall be deemed to have obtained a good consideration for the transfer of the Specified Assets.


 


		3.	ADJUSTMENT OF VALUE OF SPECIFIED ASSET



 


In furtherance of the purposes of the Deed, the Parties
agree that the Allocation of the Asset Sale Amount for Twenty20 Energy Systems Pte. Ltd. as set out in Schedule 1(A) related to
APEV Assets, shall be revised by replacing the amount of “US$7,451,533” with “$7,240,447.01”.


 


		4.	ACKNOWLEDGEMENT



 


Save for the specific revisions and allocations set out
in this Addendum, the Parties expressly agree that all other parts of the Deed remain unchanged.


 




    	 		 



     


    

 








EXECUTED AS AN DEED


 


	ASIA PACIFIC ENERGY VENTURES PTE. LTD.	 	T20 HOLDINGS PTE. LTD.
	 	 	 
		 	
	DIRECTOR	 	Geoffrey Allan Lawrence (Director)
	 	 	 
		 	
	DIRECTOR / SECRETARY	 	


 


	PACIFIC ENERGY CONSULTING LIMITED	 	 
	 	 	 
		 	
	DIRECTOR	 	James Herbert Schnieders (Director)
	 	 	 
		 	 
	DIRECTOR / SECRETARY