Document:

Exhibit
10.17

 

Confidential Treatment has
been requested for the omitted portions of the exhibit and the omitted portions
have been separately filed with the Commission.

 

Agency Appointment
Contract

 

The
Principal: (hereinafter referred to as Party A) Tianjin New Highland
Science & Technology Development Co.,Ltd.

 

The
Agency : (hereinafter referred to as Party B) Dongying Luda Petrochemical
Equipment Co.,Ltd.

 

Place of Signature: Tianjin
City

 

Date of Signature:
June 2, 2008

 

Party A and Party B as
mentioned above sometimes hereinafter referred to collectively as “Parties” or
individually as a “Party”

 

Definition:

 

“Contract” refers to the
Agency Appointment Contract signed on June 2, 2008;

 

“Units” are to one
(a) set of Jet-DrillTM Semi Enclosed Skid Shallow (two
thousand meters) Well Unit and one (a) set of Jet-DrillTM Semi Enclosed Skid Deep (three thousand
meters) Well Unit.

 

According
to the “Contract Law of the People’s Republic of China” as well as other
relevant laws and regulations, on the basis of

 

 

equality
and volition, the Parties agree to reach the following agreement on the drill
purchase.

 

Article 1
Scope of Appointment

 

Party
B agrees to buy one (a) set of Jet-DrillTM Semi Enclosed
Skid Shallow (two thousand meters) Well Unit and one (a) set of Jet-DrillTM Semi Enclosed Skid Deep (three thousand
meters) Well Unit on behalf of Party A.

 

Article 2
Requirements Related to Well Units and Its Ancillary Equipment

 

The
basic requirements of Party A’s purchase of one (a) set of Jet-DrillTM Semi Enclosed Skid Shallow (two thousand
meters) Well Unit and one (a) set of Jet-DrillTM Semi Enclosed
Skid Deep (three thousand meters) Well Unit are:

 

A.           Unit Model : one
(a) set of Jet-DrillTM Semi Enclosed Skid Shallow (two
thousand meters) Well Unit; one (a) set of Jet-DrillTM Semi Enclosed Skid Deep (three thousand
meters) Well Unit.

 

B.             Purchasing Quantity: one set
of each

 

 

Confidential Treatment has
been requested for the omitted portions of the exhibit and the omitted portions
have been separately filed with the Commission.

 

Article 3
Price Terms

 

A.
One (a) set of Jet-DrillTM Semi Enclosed Skid Shallow (two
thousand meters) Well Unit: [xxxx];

 

B.
One (a) set of Jet-DrillTM Semi Enclosed Skid Deep (three
thousand meters) Well Unit: [xxxx];

 

C.
Total Price: [xxxx]

 

Date
of Delivery: before December 31, 2008

 

Place
of Delivery: Tianjin City

 

Cost
of Delivery: All cost related to delivery shall be borne by Party B

 

Article 4  Term of Entrustment:

 

From
June 1, 2008 to January 31, 2009

 

After
the expiration of the aforementioned term, the Parties should sign a separate
contract or extend the term in written form in the case that further services
are needed.

 

Article 5
Transfer of Delegation

 

Party
B may not delegate its obligations under this agreement to any third person.

 

 

Confidential Treatment has
been requested for the omitted portions of the exhibit and the omitted portions
have been separately filed with the Commission.

 

Article 6
Payment Terms

 

Payment
will be made on a progressive basis.

 

A.           Party A shall pay Party B
the initial amount of [xxxx], which is forty percent of the total contract
price before September 25, 2008;

 

B.             The second payment, to the
amount of [xxxx], which accounts for thirty (30) percent of the contract price,
will be made by Party A to Party B before November 10, 2008;

 

C.             The third payment of [xxxx],
which accounts for ten(10) percent of the contract price, will be made by
Party A to Party B on the date the purchased Units arrive;

 

D.            The balance of [xxxx] will
be paid to Party B by Party A within five(5) days after verification and
acceptance of the purchased Units.

 

 

Article 7
Inspection of the Units

 

Party
B shall appoint a representative to inspect the Units upon delivery. The so
appointed representative shall sign on the bill of lading after inspection to
confirm that all requirements are met. Party B has the obligation to assist
Party A in making claims against the supplier in the that any defects in
quality are discovered during inspection.

 

Article 8
Party A’s Rights and Obligations

 

A.           The right to obtain
purchased units purchased by Party B under the Contract;

 

B.             The right to be informed of
the progression of the affairs handled by Party B;

 

C.             Party A may not enter into
private agreements with clients introduced by Party B during the term of
service or within three (3) months after the expiration of the term.

 

D.            Party A shall pay to Party B
the contracted price after Party B completes its obligations to Party A.

 

Article 9
Party B’s Rights and Obligations

 

A.           The rights to complete the
agency services under this Contract and to charge the contracted price.

 

 

B.             Party B shall keep Party A
informed of all details on the Units in a timely manner so as to protect Party
A’s rights, and may not damage Party A’s interests by providing fraudulent
information to Party A, withhold information on the actual circumstances
of  Party B, or conspire with other
parties.

 

C.             Upon the signing of the
Contract, Party B may not charge Party A for any fees not covered in the
Contract.

 

Article 10
Default Liability

 

A.           Party B shall compensate
Party A for any actual losses caused by Party B due to non-performance of the
Contract or other illegal activities within the term of entrustment mentioned
in Article 3.

 

B.             Party B will have ownership over
the purchase units as well as  sole
discretion over the handling of the Units in the case that Party A cannot make
full payment for the Units on their arrival date as stipulated in the Contract.

 

Article 11
Alternation and Termination of the Contract

 

Any
Party who wishes to change the terms and conditions of this contract during the
period of its enforcement shall issue a notice in writing to the other Party.
The terms and conditions may be

 

 

changed
or a supplementary agreement may be signed with the consent of the other Party
within a period agreed upon by both Parties. The altered terms shall be noted
accordingly.

 

Any
supplementary agreements or other written documents signed by both Parties
during the execution of the Contract shall constitute a part of this Contract
with equal effect as this Contract.

 

Article 12
Dispute Settlement

 

All
disputes arising from the execution of or in connection with the Contract shall
be settled through amicable consultation between both Parties or through
intercession by a third party. In the case that no settlement can be reached
between the two parties, the case under dispute shall be settled by one of the
followings (only one method may be chosen):

 

A.           Submitting the dispute to
the Tianjin Arbitration Commission

 

B.             Taking legal action under
applicable laws

 

Article 13  This Contract is in duplicate, with each
Party holding one copy, which enters into effect since being signed/affixed
with the seals of both Parties.

 

 

Article 14  Once the Contract is signed and affixed with
the seals, it is legally binding upon both Parties. In the event that any
situation or conditions arise due to unforeseen circumstances not specified in
the Contract, the Parties may make amendments and supplements to the Contract
upon agreement by both Parties. The aforementioned amendments and supplements
shall have the legal force equal to those within the Contract.

 

 

Party A (Seal): Tianjin New Highland
Science and Technology Development Co.,Ltd.

 

	
  /s/ Xin Guoqiang

  	
   

  
	
   

  	
   

  
	
  (Name of Legal Representative)

  	
   

  
	
   

  	
   

  
	
  Name: Xin Guoqiang

  	
   

  

 

 

Party B (Seal): Dongying Luda Petrochemical
Equipment Co.,Ltd.

 

	
  /s/ Miao Zhijun

  	
   

  
	
   

  	
   

  
	
  (Name of Legal
  Representative)

  	
   

  
	
   

  	
   

  
	
  Name: Miao Zhijun

  	
   

  

 

 

Supplementary Agreement

 

Party
A: Tianjin New Highland Science & Technology Development Co.,Ltd.

 

Party
B: Dongying Luda Petrochemical Equipment Co.,Ltd.

 

Party A and Party B as
mentioned above sometimes hereinafter referred to collectively as “Parties” or
individually as a “Party”

 

Whereas,
the aforementioned parties who are the signatories to the Agency Appointment
Contract (hereinafter referred to as Contract) of June 2, 2008, on the
basis of mutual accordance through consultation, reach this supplementary
agreement on the matching of equipment as well as repair and maintenance
services as set forth in the following:

 

Article 1  Party B shall be responsible for of the
matching of equipment to the Extended Coiled Tubing High Pressure Jetting Rig
which is purchased by Party B on behalf of Party A in China with fees already covered
by the total contract price in accordance with the Contract.

 

 

Article 2  Party B agrees to provide free repair and
maintenance services to the two(2) sets of units purchased by Party B for
12 months after acceptance and delivery of the units to Party A. Party A shall
be responsible for repairs, maintenance and other related expenses beyond the
aforementioned period.

 

Article 3  If Party B continues as Party A’s agent in
the purchase of the Extended Coiled Tubing High Pressure Jetting Rig after the
Contract is fulfilled, and Party B continues to provide services on the
matching of equipment and maintenace, Party B shall bear the responsibility of
unit purchases, the matching of equipment and maintenance, acting in accordance
to Article 1 & 2 under this Agreement.

 

Article 4   This Supplementary Agreement is in duplicate
with each Party holding one copy.

 

Article 5  Once the Supplementary Agreement is signed
and affixed with seals, it will be legally binding upon both Parties, and have
the same legal force with the Contract.

 

 

Party
A(Seal): Tianjin New Highland Science and Technology Development Co.,Ltd.

 

Date
of Signature: November 18, 2009

 

Party
B(Seal):Dongying Luda Petrochemical Equipment Co.,Ltd.

 

Date
of Signature: November 18, 2009Exhibit 10.18

 

Confidential Treatment has
been requested for the omitted portions of the exhibit and the omitted portions
have been separately filed with the Commission.

 

Agency Appointment Contract

 

The Principal: (hereinafter referred to as Party A)
Tianjin New Highland Science & Technology Development Co.,Ltd.

 

The Agency: (hereinafter referred to as Party B)
Dongying Luda Petrochemical Equipment Co.,Ltd.

 

Place of Signature: Dagang District, Tianjin City

 

Date of Signature: January 11, 2010

 

Party A and Party B as mentioned above sometimes
hereinafter referred to collectively as “Parties” or individually as a “Party”

 

Definitions:

 

“Contract” refers to the Agency Appointment
Contract signed on January 11, 2010;

 

“Units” are to sets of Jet-DrillTM Semi Enclosed Skid Shallow Well
Units and sets of Jet-DrillTM Semi Enclosed Skid Deep Well Units.

 

According to the “Contract Law of the
People’s Republic of China” as well as other relevant laws and regulations, on
the basis of equality  and volition, the
Parties agree to reach the following agreement on the drill purchase.

 

 

Confidential Treatment has
been requested for the omitted portions of the exhibit and the omitted portions
have been separately filed with the Commission.

 

Article 1 Scope of Appointment

 

Party B agrees to buy six sets of Jet-DrillTM Semi Enclosed Skid Well Units on
behalf of Party A.

 

Article 2 Requirements related to Well Units
and its Ancillary Equipment

 

The basic requirements of Party A’s purchase
of the six (6) Units are:

 

A.        Unit
Model: sets of Jet-DrillTM Semi Enclosed Skid Shallow Well Units and sets
of Jet-DrillTM Semi
Enclosed Skid Deep Well Units.

 

B.        Party
B shall be responsible for the assembly, matching and testing of the purchased
Units.

 

Article 4 Price Terms

 

Each set of the Jet-DrillTM Semi Enclosed Skid Shallow Well
Units cost [xxxx]. The total contract
price for six Units is [xxxx];

 

Date of Delivery: within ten (10) days after
the initial payment is made by Party A to Party B.

 

Place of Delivery: Tianjin City

 

 

Confidential Treatment has
been requested for the omitted portions of the exhibit and the omitted portions
have been separately filed with the Commission.

 

Cost of Delivery: All costs related to
delivery shall be borne by Party B

 

Article 4 
Payment Terms

 

Payment will be made on a progressive basis.

 

A.        Party
A shall pay Party B the initial amount of [xxxx], which is forty(40) percent of the total contract price, within
fifteen(15) days of the signing of this Contract;.

 

B.        The
second payment of [xxxx],
which accounts for forty (40) percent of the contract price, will be made by
Party A to Party  within sixty(60) days of
the signing of this Contract;.

 

C.        The
third payment of [xxxx],
which accounts for ten(10) percent of the contract price, will be made by Party
A to Party B within one hundred and eighty(180) days of the signing of this
Contract;.

 

D.  The
balance of [xxxx], which accounts for
ten(10) percent of the contract  price,
will be paid to Party B by Party A on the date that the purchased units are
tested and accepted by Party A.

 

 

Article 5  Term of Entrustment:

 

From January 11, 2010 to December 1,2010.

 

After the expiration of the aforementioned
term, the Parties should sign a separate contract or extend the term in written
form in the case that further services are needed.

 

Article 6  Transfer of Delegation

 

Party B may not delegate its obligations
under this agreement to any third person.

 

Article 7 Inspection of Units

 

Party B shall appoint a representative to
inspect the units upon delivery. The appointed representative shall sign on the
bill of lading after inspection to confirm that all requirements are met. Party
B has the obligation to help Party A in making claims against the supplier in
the case that any defects in quality are discovered during the inspection.

 

Article 8  Party A’s Rights and Obligations

 

A.        The
right to obtain units purchased by Party B under the Contract;

 

 

B.        The
right to be informed of the progress of the affairs entrusted to Party B;

 

C.        Party
A may not enter into private deals with clients introduced by Party B during
the term of servoce or within three (3) months after the expiration of the
term.

 

D.        Party
A shall pay to Party B the contracted price after the Party B has fulfilled its
obligations.

 

Article 9  Party B’s Rights and Obligations

 

A.        The
right to complete the agency services under this Contract and to charge the
contracted price.

 

B.        Party
B shall keep Party A informed of all details on the Units in a timely manner so
as to protect Party A’s rights, and may not damage Party A’s interests by
providing fraudulent information to Party A, withhold information on the actual
circumstances of Party B, or conspire with other parties.

 

C.        The
warranty period for the purchased units is twelve (12) months after the
acceptance date of the Units. Party B shall provide free repair and maintenance
services on the purchased Units to Party A during the aforementioned warranty
period.

 

D.        Upon
the signing of the Contract, Party B may not charge Party A for any fees not
covered in the Contract.

 

 

Article 10  Default Liability

 

A.        Party
A shall pay Party B liquidated damages of one ten-thousandth (1/10000) of the
delayed payment in the case that Party A cannot make the payments as stipulated
in the Contract.

 

B.        Party
B shall pay Party A liquidated damages of one ten-thousandth (1/10000) the value
of the delayed delivery in the case that Party B cannot deliver the purchased
Units as stipulated in the Contract.

 

Article 11  Alteration and Termination of the Contract

 

Any Party who wishes to change the terms and
conditions of this contract during the period of enforcement shall issue a
notice in writing to the other Party. The terms and conditions may be changed
or a supplementary agreement may be signed with the consent of the other Party
within a period agreed upon by both Parties. The altered terms shall be duly
noted.

 

Any supplementary agreements or other writte
documents signed by both Parties during the execution of the Contract shall
constitute a part of this Contract with legal effect equal with this Contract.

 

 

Article 12  Dispute Settlement

 

All disputes
arising from the execution of or in connection with the Contract shall be
settled through amicable consultation between both Parties or intercession by a
third party. In the case that no settlement can be reached between the two
parties, either Party can take the case under dispute to the People’s Court that
has jurisdiction.

 

Article 13  This
Contract is in duplicate, with each Party holding one copy, which enters into
effect since being signed and affixed with seals by both Parties. Once the
Contract is signed and affixed with seals, it is legally binding upon both
Parties.

 

 

Party A(Seal): Tianjin New Highland Science and Technology Development Co.,Ltd.

 

 

	
  /s/ Xin Guoqiang

  	
   

  
	
   

  	
   

  
	
  (Name of Authorized Representative)

  	
   

  
	
   

  	
   

  
	
  Name: Xin Guoqiang

  	
   

  

 

 

Party B(Seal): Dongying Luda Petrochemical Equipment Co.,Ltd.

 

 

	
  /s/ Quan Xinkuan

  	
   

  
	
   

  	
   

  
	
  (Name of Authorized Representative)

  	
   

  
	
   

  	
   

  
	
  Name: Quan Xinkuan

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}]]