Document:

ENVIRONMENTAL
      INDEMNITY

     

    ENVIRONMENTAL
      INDEMNITY, is dated as of September 10, 2007 (this “Agreement”),
      by
      Pure Biofuels Del Peru S.A.C., a Peruvian corporation (“Pure
      Biofuels”)
      and
      Palma Industrial S.A.C., a Peruvian corporation (“Palma”
and,
      together with Pure Biofuels, collectively, the “Indemnitors”),
      each
      having an office at Av. Canaval y Moreyra 380 of 402, San Isidro, Lima, Peru,
      in
      favor of Plainfield Special Situations Master Fund Limited, as Administrative
      Agent (together with any successor administrative agent, the “Administrative
      Agent”),
      having an office at 55 Railroad Avenue, Greenwich CT 06830, for the benefit
      of
      the Creditors (as defined below).

     

    RECITALS:

     

    WHEREAS,
      Pure Biofuels Corporation, the Indemnitors, the lenders from time to time party
      thereto (the “Lenders”),
      and
      the Administrative Agent, as Lead Arranger have entered into a Loan Agreement,
      dated as of the date hereof (as amended, restated, replaced, supplemented or
      otherwise modified from time to time, the “Loan
      Agreement”),
      providing for the making of Loans to Borrowers, all as contemplated therein
      (the
      Lenders and the Administrative Agent, are herein called the “Creditors”);

     

    WHEREAS,
      it is a condition precedent to the making of Loans under the Loan Agreement
      that
      Indemnitors shall have executed and delivered to the Administrative Agent this
      Agreement; and

     

    WHEREAS,
      the forgoing recitals are intended to form an integral part of this
      Agreement.

     

    NOW,
      THEREFORE, in consideration of the foregoing premises, Ten Dollars ($10.00)
      paid
      in hand, and other good and valuable consideration, the receipt and sufficiency
      of which are hereby acknowledged, Indemnitor agrees as follows:

     

    1.
      Definitions.

     

    (a) The
      following terms shall have the meaning ascribed thereto:

     

    “Administrative
      Agent”
shall
      have the meaning provided in the first paragraph.

     

    “Agreement”
shall
      have the meaning provided in the first paragraph.

     

    “Borrowers”
shall
      have the meaning provided in the Recitals.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      2

     

    “Environmental
      Law”
shall
      mean any federal, state or local statute, regulation or ordinance or any
      judicial or administrative decree or decision, whether now existing or
      hereinafter enacted, promulgated or issued, with respect to the protection
      of
      human health from any environmental hazards, or the environment, or any
      Hazardous Materials, wetlands, landfills, open dumps, storage tanks, underground
      storage tanks, solid waste, waste water, storm water run-off, waste emissions
      or
      wells. Without limiting the generality of the foregoing, the term shall
      encompass each of the following statutes, and regulations promulgated
      thereunder, and amendments and successors to such statutes, and regulations,
      as
      may be enacted and promulgated from time to time: (i) the Comprehensive
      Environmental Response, Compensation and Liability Act of 1980 (codified in
      scattered sections of 26 U.S.C.; 33 U.S.C.; 42 U.S.C. and 42 U.S.C. §9601
et seq.);
      (ii)
      the Resource Conservation and Recovery Act of 1976 (42 U.S.C. §6901 et seq.);
      (iii)
      the Hazardous Materials Transportation Act (49 U.S.C. §1801 et seq.); (iv) the
      Toxic Substances Control Act (15 U.S.C. §2061 et seq.);
      (v)
      the Clean Water Act (33 U.S.C. §1251 et seq.);
      (vi)
      the Clean Air Act (42 U.S.C. §7401 et seq.);
      (vii)
      the Safe Drinking Water Act (21 U.S.C. §349; 42 U.S.C. §201 and §300f
et seq.);
      (viii) the National Environmental Policy Act of 1969 (42 U.S.C. §4321); (ix) the
      Superfund Amendment and Reauthorization Act of 1986 (codified in scattered
      sections of 10 U.S.C., 29 U.S.C. 33 U.S.C. and 42 U.S.C.); and (x) Title III
      of
      the Superfund Amendment and Reauthorization Act (40 U.S.C. §1101 et seq.).

     

    “Hazardous
      Materials”
shall
      mean each and every element, compound, chemical mixture, contaminant, pollutant,
      material, waste or other substance which is defined, determined or identified
      as
      hazardous or toxic under any Environmental Law. Without limiting the generality
      of the foregoing, the term shall mean and include:

     

    (i) “hazardous
      substances”
as
      defined in the Comprehensive Environmental Response, Compensation and Liability
      Act of 1980, the Superfund Amendment and Reauthorization Act of 1986, or Title
      III of the Superfund Amendment and Reauthorization Act, each as amended, and
      regulations promulgated thereunder; 

     

    (ii) “hazardous
      waste”
and
      “regulated substances” as defined in the Resource Conservation and Recovery Act
      of 1976, as amended, and regulations promulgated thereunder;

     

    (iii)
      “hazardous
      materials”
as
      defined in the Hazardous Materials Transportation Act, as amended, and
      regulations promulgated thereunder; and

     

    (iv)
      “chemical
      substance or mixture”
as
      defined in the Toxic Substances Control Act, as amended, and regulations
      promulgated thereunder.

     

    “Indemnified
      Parties”
shall
      mean each Creditor, and each of its parent, subsidiaries and affiliates, each
      of
      their respective shareholders, directors, officers, employees and agents, and
      the successors and assigns of any of them; and “Indemnified Party” shall mean
      any one of the Indemnified Parties.

     

    “Indemnitors”
shall
      have the meaning provided in the first paragraph.

     

    “Lender”
shall
      mean the lenders from time to time party to the Loan Agreement.

     

    “Loan
      Agreement”
shall
      have the meaning provided in the Recitals.

     

    “Property”
shall
      mean all real property owned or leased by any of the Credit
      Parties.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      3

     

     

    “Release”
shall
      mean any spilling, leaking, pumping, pouring, emitting, emptying, discharging,
      injecting, storing, escaping, leaching, dumping, discarding, burying,
      abandoning, or disposing into the environment.

     

    “Threat
      of Release”
shall
      mean a substantial likelihood of a Release which requires action to prevent
      or
      mitigate damage to the environment which may result from such
      Release.

     

    (b) Capitalized
      terms used but not otherwise defined herein shall have the respective meanings
      given thereto in the Loan Agreement, unless otherwise expressly provided herein.
      All references to sections shall be deemed to be references to sections of
      this
      Agreement, unless otherwise indicated.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      4

    2.
      Indemnity Agreement.
      Each of
      the Indemnitors covenants and agrees, on a joint and several basis and at its
      sole cost and expense, to indemnify, defend (at trial and appellate levels
      and
      with attorneys, consultants and experts selected by Indemnitor and reasonably
      acceptable to Administrative Agent) and hold each Indemnified Party harmless
      against and from any and all liens, damages, losses, liabilities, obligations,
      settlement payments, penalties, assessments, citations, directives, claims,
      litigation, demands, defenses, judgments, suits, proceedings, costs,
      disbursements or expenses of any kind or of any nature whatsoever (including,
      without limitation, but subject to the provisions hereof, reasonable attorneys’,
      consultants’ and experts’ fees and disbursements reasonably incurred in
      investigating, defending against, settling or prosecuting any claim, litigation
      or proceeding) which may at any time be imposed upon, incurred by or asserted
      or
      awarded against such Indemnified Party (except, as to any Indemnified Party,
      to
      the extent arising out of the gross negligence or willful misconduct of any
      Indemnified Party) and arising from or out of: (A) the Release or Threat of
      Release of any Hazardous Materials on, in, under or affecting all or any portion
      of any Property or any surrounding areas, regardless of whether or not caused
      by
      or within the control of any Credit Party or Indemnitor, first occurring prior
      to Administrative Agent or its nominee acquiring title to such Property by
      an
      enforcement action or otherwise; (B) the Release or Threat of Release of
      Hazardous Materials at any other location if the Hazardous Materials were
      generated, treated, stored, transported or disposed of by or on behalf of any
      Credit Party, (C) the material violation of any Environmental Laws relating
      to
      or affecting any Property, any Credit Party, whether or not caused by or within
      the control of any Credit Party or Indemnitor first occurring prior to the
      Administrative Agent or its nominee acquiring possession and control over or
      title to such Property by any enforcement action or otherwise; (D) the failure
      of Indemnitor to comply fully with the terms and conditions of this Agreement;
      (E) the violation of any Environmental Laws in connection with other real
      property of any Credit Party or Indemnitor or any of their respective Affiliates
      which gives or may give rise to any rights whatsoever in any party with respect
      to any Property by virtue of any Environmental Laws; or (F) the enforcement
      of
      this Agreement, including, without limitation, (i) the reasonable costs of
      assessment, containment and/or removal of any and all Hazardous Materials from
      all or any portion of any Property, any adjacent areas, (ii) the costs of any
      actions taken in response to a Release or Threat of Release of any Hazardous
      Materials first occurring prior to Administrative Agent or its nominee acquiring
      title to the affected Property by any enforcement action or otherwise on, in,
      under or affecting all or any portion of any Property, any adjacent areas,
      or
      any other areas to prevent or minimize such Release or Threat of Release so
      that
      it does not migrate or otherwise cause or threaten danger to present or future
      public health, safety, welfare or the environment and (iii) costs incurred
      to
      comply with the Environmental Laws in connection with all or any portion of
      any
      Property, any adjacent areas, or any other areas for violations first occurring
      prior to Administrative Agent or its nominee acquiring title to the affected
      Property. Each of the Indemnitors’ obligations hereunder are separate and
      distinct from its obligations under the other Loan Documents, and Administrative
      Agent’s and the other Indemnified Parties’ rights under this Agreement shall be
      in addition to all rights of Creditors under the other Loan Documents. Each
      of
      the Indemnitors shall be liable for any and all losses or damages incurred
      by
      any Indemnified Party relating to the presence, Release, or Threatened Release
      of any Hazardous Materials on or about any Property as a result of the acts
      or
      negligent omissions of any Credit Party or Indemnitor, or any principal,
      officer, member or partner of any Credit Party or Indemnitor from and after
      the
      date hereof. Each of the Indemnitors shall have no obligation to indemnify,
      defend or hold harmless any Indemnified Party for Losses that result from such
      Indemnified Party’s gross negligence or willful misconduct, but nothing in this
      sentence shall affect such Indemnitor’s obligation to indemnify, defend or hold
      harmless any other Indemnified Party. If any such action or other proceeding
      shall be brought against any Indemnified Party, upon written notice from the
      Indemnitors to such Indemnified Party and the Administrative Agent (given
      reasonably promptly following any Indemnified Party’s notice to Indemnitor of
      such action or proceeding), Indemnitor shall be entitled to assume the defense
      thereof, at Indemnitor’s expense and with the prior written approval of the
      Administrative Agent, with counsel reasonably acceptable to Administrative
      Agent; provided,
      however,
      such
      Indemnified Party may, at its own expense, retain separate counsel to
      participate in such defense, but such participation shall not be deemed to
      give
      such Indemnified Party a right to control such defense, which right Indemnitor
      expressly retains. Notwithstanding the foregoing, each Indemnified Party shall
      have the right subject to the prior written approval of the Administrative
      Agent
      to employ separate counsel at Indemnitor’s expense if, in the reasonable opinion
      of legal counsel, a conflict or potential conflict exists between the
      Indemnified Party and Indemnitor that would make such separate representation
      advisable.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      5

     

    3.
      Survival.
      (a)
      This Agreement and the indemnities provided herein shall survive the repayment
      of the Obligations and, subject to the terms of such indemnity, shall survive
      the exercise of any remedies under the Loan Documents, including without
      limitation, any remedy in the nature of an enforcement action, and shall not
      merge with any assignment or conveyance given by any Credit Party to any
      Creditor in lieu of an enforcement action.

     

    (b) It
      is
      agreed and intended by each of the Indemnitors and each Indemnified Party that
      this Agreement and the indemnities provided herein may be assigned or otherwise
      transferred by such Indemnified Party to its successors and assigns and to
      any
      subsequent purchaser of all or any portion of the Loans by, through or under
      such Indemnified Party, without notice to either Indemnitor and without any
      further consent of either Indemnitor. To the extent consent of any such
      assignment or transfer is required by law, advance consent to any such
      assignment or transfer is hereby given by the Indemnitors in order to maximize
      the extent and effect of the indemnity given hereby.

     

    (c) Notwithstanding
      anything to the contrary contained in this Agreement, the Loan Agreement or
      the
      other Loan Documents, the obligations and liabilities of the lndemnitors
      hereunder shall terminate, except to the extent of any claims for such indemnity
      then pending five (5) years after the date on which the Loans are repaid in
      full
      and the satisfaction of all Obligations of the Credit Parties under the Loan
      Documents.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      6

    4.
      Miscellaneous.
      (a)
No
      Waiver.
      The
      liabilities of Indemnitors under this Agreement shall in no way be limited
      or
      impaired by the Loan Documents. In addition, notwithstanding any terms of any
      of
      the Loan Documents to the contrary, the liability of the Indemnitors under
      this
      Agreement shall in no way be limited or impaired by: (i) any extensions of
      time
      for performance required by any of the Loan Documents; (ii) the accuracy or
      inaccuracy of the representations and warranties made by any Credit Party under
      any of the Loan Documents; (iii) the release of any Credit Party or any other
      Person from performance or observance of any of the agreements, covenants,
      terms
      or conditions contained in the Loan Documents by operation of law, Creditor’s
      voluntary act, or otherwise; (iv) the release or substitution, in whole or
      in
      part, of any security for the Obligations; or (v) any Creditor’s failure to
      perfect, protect, secure or insure any security interest or lien given as
      security for the Obligations; and, in any such case, whether with or without
      notice to the Indemnitors and with or without consideration.

     

    (b) MARSHALLING.
      EACH OF
      THE INDEMNITORS WAIVES ANY RIGHT OR CLAIM OF RIGHT TO CAUSE A MARSHALLING OF
      ANY
      CREDIT PARTY’S ASSETS OR TO CAUSE ANY CREDITOR TO PROCEED AGAINST ANY OF THE
      SECURITY FOR THE LOANS BEFORE PROCEEDING UNDER THIS AGREEMENT AGAINST SUCH
      INDEMNITOR, ANY CREDIT PARTY OR TO PROCEED AGAINST INDEMNITOR OR ANY CREDIT
      PARTY IN ANY PARTICULAR ORDER. EACH OF THE INDEMNITORS AGREES THAT ANY PAYMENTS
      REQUIRED TO BE MADE HEREUNDER SHALL BECOME DUE AND PAYABLE TEN (10) DAYS AFTER
      DEMAND. INDEMNITOR EXPRESSLY WAIVES AND RELINQUISHES ALL RIGHTS AND REMEDIES
      (INCLUDING ANY RIGHTS OF SUBROGATION) ACCORDED BY APPLICABLE LAW TO
      INDEMNITOR.

     

    (c) Joint
      and Several Obligation.
      Each of
      the Indemnitors shall be jointly and severally liable to perform the obligations
      of Indemnitor hereunder. Any one or more Credit Parties or one or more parties
      constituting Indemnitor or any other Person liable upon or in respect of this
      Agreement or the Obligations may be released without affecting the liability
      of
      any Person not so released. 

     

    (d) Further
      Assurances.
      The
      Indemnitors shall execute and acknowledge (or cause to be executed and
      acknowledged) and deliver to Administrative Agent all documents, and take all
      actions, reasonably required by Administrative Agent from time to time to
      confirm the rights created or now or hereafter intended to be created under
      this
      Agreement, to protect and further the validity and enforceability of this
      Agreement or otherwise carry out the purposes of this Agreement.

     

    (e) Notices.
      Except
      as otherwise expressly provided herein, all notices and other communications
      provided for hereunder shall be in writing (including telex or telecopier)
      and
      mailed, telexed, telecopied or delivered: in the case of the Indemnitors, at
      its
      address set forth opposite its signature page below; if to any Lender, at its
      address specified on Schedule
      2
      of the
      Loan Agreement, and if to the Administrative Agent, at the Notice Office. All
      such notices and communications shall, when mailed, telexed or telecopied,
      or
      sent by overnight courier, be effective (x) three (3) Business Days after
      deposited in the mails, (y) one (1) Business Day after delivered to a recognized
      overnight courier, as the case may be, or (z) when sent by telex or telecopier,
      except that notices and communications to the Administrative Agent shall not
      be
      effective until received by the Administrative Agent.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      7

     

    (f) Entire
      Agreement.
      This
      Agreement constitutes the entire and final agreement between the Indemnitors
      and
      Indemnified Parties with respect to the subject matter hereof and may only
      be
      changed, amended, modified or waived by an instrument in writing signed by
      Indemnitor and Administrative Agent.

     

    (g) No
      Waiver.
      No
      waiver of any term or condition of this Agreement, whether by delay, omission
      or
      otherwise, shall be effective unless in writing and signed by the party sought
      to be charged, and then such waiver shall be effective only in the specific
      instance and for the purpose for which given. No delay on the part of any
      Indemnified Party in exercising any right, power or privilege under this
      Agreement or any other Loan Document shall operate as a waiver of any privilege,
      power or right hereunder.

     

    (h) Successors
      and Assigns.
      This
      Agreement shall be binding upon each of the Indemnitors and its successors
      and
      assigns and shall inure to the benefit of each Indemnified Party, and their
      respective successors and permitted assigns. The Indemnitors, without the prior
      written consent of Administrative Agent in each instance, may assign, transfer
      or set over to another, in whole or in part, all or any part of its benefits,
      rights, duties and obligations hereunder, including, but not limited to,
      performance of and compliance with conditions hereof, provided that such
      assignment shall not release Indemnitor of its obligations
      hereunder.

     

    (i) Headings
      Descriptive.
      The
      headings of the several sections and subsections of this Agreement are inserted
      for convenience only and shall not in any way affect the meaning or construction
      of any provision of this Agreement.

     

    (j) Counterparts.
      This
      Agreement may be executed in any number of counterparts and by the different
      parties hereto on separate counterparts, each of which when so executed and
      delivered shall be an original, but all of which shall together constitute
      one
      and the same instrument. A set of counterparts executed by all the parties
      hereto shall be lodged with Indemnitor and the Administrative
      Agent.

     

    (k) Severability.
      The
      provisions of this Agreement are severable, and if any one clause or provision
      hereof shall be held invalid or unenforceable in whole or in part, then such
      invalidity or unenforceability shall affect only such clause or provision,
      or
      part thereof, and not any other clause or provision of this
      Agreement.

     

    (l) Statute
      of Limitations.
      Indemnitor hereby waives the pleading of any statute of limitations as a defense
      to the obligation hereunder.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      8

     

    5.
      Governing
      Law; Submission to Jurisdiction; Venue; Waiver of Jury Trial.
      

            (a) THIS
      AGREEMENT AND THE OTHER LOAN DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE
      CREDITORS AND THE UNDERSIGNED HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH
      AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK (WITHOUT REGARD TO CONFLICTS
      OF LAW PRINCIPLES). THE PARTIES ACKNOWLEDGE THAT NEW YORK HAS A SUBSTANTIAL
      RELATIONSHIP TO THE UNDERLYING TRANSACTIONS RELATED TO THIS AGREEMENT AND TO
      THE
      PARTIES INVOLVED.

     

    (b) ANY
      LEGAL
      ACTION OR PROCEEDING AGAINST EITHER INDEMNITOR, ANY LENDER OR THE ADMINISTRATIVE
      AGENT WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY AT THE
      ADMINISTRATIVE AGENT’S OPTION BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK
      OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE
      WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY
      OF
      THIS AGREEMENT, EACH OF THE INDEMNITORS HEREBY IRREVOCABLY ACCEPTS FOR ITSELF
      AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION
      OF THE AFORESAID COURTS. EACH OF THE INDEMNITORS HEREBY FURTHER IRREVOCABLY
      WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER IT, AND
      AGREES NOT TO PLEAD OR CLAIM, IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT
      TO
      THIS AGREEMENT OR ANY OTHER LOAN DOCUMENTS BROUGHT IN ANY OF THE AFOREMENTIONED
      COURTS, THAT SUCH COURTS LACK PERSONAL JURISDICTION OVER IT. EACH OF THE
      INDEMNITORS FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY
      OF
      THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF
      COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO EACH
      INDEMNITOR AT ITS ADDRESS SET FORTH OPPOSITE ITS SIGNATURE BELOW, SUCH SERVICE
      TO BECOME EFFECTIVE THIRTY (30) DAYS AFTER SUCH MAILING. EACH OF THE INDEMNITORS
      HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER
      IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING
      COMMENCED HEREUNDER OR UNDER ANY OTHER CREDIT DOCUMENT THAT SERVICE OF PROCESS
      WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT
      OF
      ANY CREDITOR OR THE HOLDER OF ANY NOTE TO SERVE PROCESS IN ANY OTHER MANNER
      PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST
      EACH OF THE INDEMNITOSR AND/OR ANY CREDIT PARTY IN ANY OTHER
      JURISDICTION.

     

    (c) EACH
      OF
      THE INDEMNITORS HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR
      HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR
      PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER
      CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY
      FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT
      THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT
      IN
      AN INCONVENIENT FORUM. 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      9

     

    (d) EACH
      OF
      THE CREDITORS AND INDEMNITORS TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL
      RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING
      OUT
      OF OR RELATING TO THIS AGREEMENT, THE OTHER LOAN DOCUMENTS OR THE TRANSACTIONS
      CONTEMPLATED HEREBY OR THEREBY.

     

    6.
      Counterclaims
      and other Actions.
      Each of
      the Indemnitors hereby expressly and unconditionally waives, in connection
      with
      any suit, action or proceeding brought by any Indemnified Party on this
      Agreement, any and every right it may have to (i) interpose any counterclaim
      therein (other than a counterclaim which can only be asserted in the suit,
      action or proceeding and cannot be maintained in a separate action) and (ii)
      have any such suit, action or proceeding consolidated with any other or separate
      suit, action or proceeding.

     

    [REMAINDER
      OF PAGE INTENTIONALLY BLANK]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Page
      10

     

    IN
      WITNESS WHEREOF, Indemnitor has executed and delivered this Agreement as of
      the
      day and year first written above.

     

    PURE
      BIOFUELS DEL PERU S.A.C.

     

     

    By:
      /s/
      Luis Goyzueta

    Title:
      Authorized Signatory

     

    PALMA
      INDUSTRIAL S.A.C.

     

     

    By:
      /s/
      Gonzalo Campos 

    Title:
      General ManagerCONTRATO
                  DE PRESTACION DE SERVICIOS INTEGRALES

                

                Conste
                  por el presente documento el Contrato de Prestación de Servicios
                  Integrales que celebran, de una parte, OCEAN
                  MARINE S.A.C.,
                  identificada con R.U.C. N° 20466351165 con domicilio en Calle Bolívar N°
                  472 - Of. N° 304, Miraflores, Lima, debidamente representada por el señor
                  Carlos Alberto Pinto Rocha, identificado con DNI N° 08249574, según poder
                  inscrito en la Partida N° 11177833 del Registro de Personas Jurídicas de
                  los Registros Públicos de Lima, a quien en adelante se denominará
                  OCEAN
                  MARINE,
                  y; de la otra parte, PURE
                  BIOFUELS DEL PERÚ S.A.C.,
                  con R.U.C. N° 20513251506, y domicilio en Canaval y Moreyra N° 380,
                  Oficina N° 402, San Isidro, Lima, debidamente representada por su
                  Apoderado señor Luis Humberto Goyzueta Angobaldo,
                  con D.N.I. No. 10609920, según
                  poder inscrito en la Partida No. 11889878 del Registro de Personas
                  Jurídicas de Lima, a quien en adelante se denominará PURE
                  BIOFUELS,
                  en
                  los términos y condiciones siguientes:

                

                PRIMERA:
                   ANTECEDENTES

                

                1.1 OCEAN
                  MARINE es
                  una sociedad anónima constituida en el Perú por Escritura Pública de fecha
                  30 de marzo del 2000, que se encuentra inscrita en la Partida Nro.
                  11177833 del Registro de Personas Jurídicas de Lima.

                

                OCEAN
                  MARINE es
                  una persona jurídica con experiencia y dedicada al transporte y
                  comercialización de combustibles e hidrocarburos que cuenta con el staff
                  profesional y con experiencia en este rubro con capacidad de brindar
                  

              	 	INTEGRAL SERVICE
                AGREEMENT
                

                This
                  Integral Service Agreement is entered into by and between OCEAN
                  MARINE S.A.C.,
                  identified with R.U.C. (Taxpayer) N° 20466351165, with address at Calle
                  Bolívar N° 472 - Of. N° 304, Miraflores, Lima, duly represented by Carlos
                  Alberto Pinto Rocha, identified with National Identity Card N° 08249574,
                  as per power of attorney registered on Item N° 11177833 of the Registry of
                  Legal Entities in and for Lima, hereinafter referred to as OCEAN
                  MARINE,
                  and PURE
                  BIOFUELS DEL PERÚ S.A.C.,
                  identified with R.U.C. (Taxpayer) N° 20513251506, with address at Canaval
                  y Moreyra N° 380, Office N° 402, San Isidro, Lima, duly represented by its
                  proxy Luis Humberto Goyzueta Angobaldo,
                  identified
                  with National Identity Card No. 10609920,
                  as
                  per power of attorney registered on Item N° 11889878 of the Registry of
                  Legal Entities in and for Lima, hereinafter referred to as PURE
                  BIOFUELS.

                

                The
                  parties agree on the following terms and conditions: 

                

                FIRST: BACKGROUND

                

                
                  
                    1.1 
                      OCEAN
                      MARINE is
                      a corporation established in Peru as per Public Deed dated
                      March 30 2000,
                      which is registered on Item No 11177833 of
                      the Registry of Legal Entities in and for Lima.

                  

                

                

                OCEAN
                  MARINE is
                  an experienced legal entity dedicated to the transportation and
                  marketing
                  of fuels and hydrocarbons that employs experienced and professional
                  staff
                  in this sector with capacity to provide

              

      

    

     

    
 

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

     

    
      
        
        

         

        
          	
                  su
                    asesoría en las áreas de financiamiento, transporte, mezcla,
                    exportación e importación de todo tipo de productos derivados de
                    hidrocarburos y biocombustibles, distribución,
                    comercialización, almacenamiento, producción, promoción, red de contactos,
                    administración, logística, entre otras. 

                  

                  
                    
                      1.2         
                        PURE
                        BIOFUELS es
                        una sociedad anónima recientemente constituida el 10 de mayo de 2006 que
                        requiere de una asesoría integral en las áreas de producción,
                        distribución, almacenamiento, transporte, exportación e importación de
                        hidrocarburos, combustibles e insumos, comercialización, promoción,
                        administración y logística que le permita poner en marcha su proyecto de
                        producción, almacenamiento y comercialización de combustibles y
                        biocombustibles en la planta que se construirá a fines del año
                        2007.

                    

                  

                   

                  SEGUNDA
                    :  OBJETO

                  

                  Por
                    medio del presente contrato, PURE
                    BIOFUELS
                    contrata los servicios de OCEAN
                    MARINE,
                    quien lo acepta y conviene en prestarle un servicio integral
                    de asesoría,
                    control y manejo de los aspectos y actividades vinculadas a las
áreas de:
                    producción, distribución, almacenamiento, transporte, exportación e
                    importación de hidrocarburos, combustibles e insumos, comercialización,
                    promoción, administración y logística de PURE
                    BIOFUELS.

                	 	
                  
                    

                    consulting
                      in the divisions of financing, transportation, mix, exports
                      and imports of
                      any kind of products derived from the hydrocarbons and biofuel,
                      distribution, marketing, storage, production, promotion, networking,
                      administration, logistics, etc. 

                    

                    

                    
                      
                        1.2          
                          PURE
                          BIOFUELS is
                          a corporation recently established on May 10, 2006 that
                          requires a legal
                          advice in the divisions of production, distribution, storage,
                          transportation, exports and imports of hydrocarbons, fuels
                          and supplies,
                          marketing, promotion, administration and logistics which
                          allow it
                          implement its fuel and biofuel marketing, storage and production
                          project
                          in the plant to be constructed by the end of
                          2007.

                      

                    

                    

                     

                    SECOND: SUBJECT
                      MATTER

                    

                    By
                      virtue of the agreement hereof, PURE
                      BIOFUELS contracts
                      the services of OCEAN
                      MARINE,
                      which accepts it and agrees to render an integral service of
                      consultancy,
                      control and management of aspects and activities related with
                      the
                      divisions of: production, storage, transportation, exports
                      and imports of
                      hydrocarbons, fuels and supplies, marketing, promotion, administration
                      and
                      logistics of PURE
                      BIOFUELS.

                     

                  

                

        

      

       

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
       

      
        
          
          

           

          
            	
                    En
                      ese sentido, OCEAN
                      MARINE
                      se
                      compromete a otorgar un óptimo servicio, para lo cual se ha preocupado de
                      sobremanera en implementar su negocio al contar con el staff
                      capacitado y
                      con amplia experiencia en los servicios materia del presente
                      contrato.

                    

                    TERCERA: ALCANCES
                      DEL SERVICIO

                    Los
                      servicios que serán prestados por OCEAN
                      MARINE en
                      favor de PURE
                      BIOFUELS
                      en
                      virtud del presente contrato son, enunciativa pero no limitativamente
                      los
                      siguientes:

                    

                    3.1 AREA
                      DE TRANSPORTE Y LOGISTICA: 

                    Recomendación,
                      asesoría y soporte en lo siguiente:

                    

                    3.1.1    
                      Selección
                      de transportistas de insumos y bienes en general. 

                     

                    3.1.2  
                      Asesoría
                      en lo que respecta a la contratación de transportistas, compañías
                      aseguradoras, coberturas de las pólizas de seguros, almacenes, agentes de
                      aduanas, entre otros que sean requeridos para la importación de los
                      insumos o bienes que requiera PURE
                      BIOFUELS.

                      

                    3.1.3   
                      Asesoría
                      y control en los almacenes en los que se depositaran los bienes
                      importados
                      por PURE
                      BIOFUELS.

                     

                    3.1.4    Gestión
                      de seguros, cobertura de riesgos y negociación de primas.

                  	 	
                    
                      
                         

                         

                        To
                          such effect, OCEAN
                          MARINE
                          agrees to grant an optimum service. Therefore, it has given
                          special
                          attention to implement its business with trained and widely
                          experienced
                          staff in the services subject matter of this agreement.

                        

                        THIRD: SCOPE
                          OF THE SERVICES

                        The
                          services to be provided by OCEAN
                          MARINE in
                          favor of PURE
                          BIOFUELS
                          by
                          virtue of this agreement are, including but not limited
                          to the following:
                          

                        

                        3.1 TRANSPORTATION
                          AND LOGISTICS DIVISION

                        Recommendation,
                          consultancy and support in the following: 

                         

                        3.1.1     
                          Selection
                          of transporters of supplies and goods in general. 

                           

                        3.1.2     Advice
                          regarding the contracting of carriers, insurance companies,
                          coverage of
                          the insurance policies, warehouses, customs agents, among
                          others required
                          for the imports of supplies or goods needed by PURE
                          BIOFUELS.

                          

                        3.1.3  
                          Advice
                          and control of warehouses where the goods imported by PURE
                          BIOFUELS
                          shall be stored.

                         

                        3.1.4    Insurance
                          management, coverage of risks and prime negotiation.
                          

                       

                    

                  

          

        

         

         

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

      

    

     

    
       

      
        	
                
                  3.2 AREA
                    COMERCIAL

                  

                  Recomendación,
                    asesoría y soporte en lo siguiente:

                  

                  
                    
                      3.2.1  
                        Gestión
                        de importaciones y exportaciones

                    

                  

                  
                    
                      3.2.2  
                        Contratación
                        de fletes

                    

                  

                  
                    
                      3.2.3  
                        Asesoramiento
                        en el mercado

                    

                  

                  
                    
                      3.2.4  
                        Gestión
                        de nuevos contratos

                    

                  

                  
                    
                      3.2.5  
                        Gestión
                        de Garantías y demás documentos habituales en las transacciones
                        comerciales

                    

                  

                  

                  3.3 AREA
                    DE OPERACIÓN Y MANTENIMIENTO

                  Recomendación,
                    asesoría y soporte en lo siguiente:

                  

                  
                    
                      3.3.1  
                        Elaboración
                        de manuales y procedimientos de operación.

                    

                  

                  
                    
                      3.3.2  
                        Elaboración
                        e implantación de sistemas de aseguramiento de la
                        calidad.

                    

                  

                  
                    
                      3.3.3  
                        Control
                        de costos de mantenimiento.

                    

                  

                  
                    
                      3.3.4  
                        Planificación
                        de producción y mantenimiento.

                    

                  

                  
                    
                      3.3.5  
                        Implantación
                        de sistemas de mantenimiento preventivo

                    

                  

                  

                  3.4 AREA
                    TECNICA

                  Recomendación,
                    asesoría y soporte en lo siguiente:

                  

                  
                    
                      3.4.1  
                        Apoyo
                        técnico en todas las inversiones que se
                        realicen.

                    

                  

                

              	 	
                
                  
                    
                      3.2 COMMERCIAL
                        DIVISION

                      

                      Recommendation,
                        advice and support in: 

                      

                      
                        
                          3.2.1  
                            Imports
                            and Exports Management.

                        

                      

                      
                        
                          3.2.2  
                            Freight
                            Contracting.

                        

                      

                      
                        
                          3.2.3  
                            Advice
                            in the market.

                        

                      

                      
                        
                          3.2.4  
                            Management
                            of new agreements.

                        

                      

                      
                        
                          3.2.5  
                            Management
                            of Guarantees and other regular documents in the commercial
                            transactions
                            

                        

                      

                      

                      3.3 OPERATION
                        AND MAINTENANCE DIVISION 

                      Recommendation,
                        advice and support in:

                      

                      
                        
                          3.3.1  
                            Preparation
                            of operation manuals and procedures.

                        

                      

                      
                        
                          3.3.2
                            Preparation
                            and implementation of quality assurance systems.

                        

                      

                      
                        
                          3.3.3  
                            Control
                            of costs and maintenance.

                        

                      

                      
                        
                          3.3.4  
                            Production
                            and maintenance planning.

                        

                      

                      
                        
                          3.3.5  
                            Implementation
                            of preventive maintenance systems 

                        

                      

                      

                      3.4 TECHNICAL
                        DIVISION

                      Recommendation,
                        advice and support in:

                      

                      
                        
                          3.4.1
                            Technical
                            support in all the investments
                            done.

                        

                      

                    

                  

                

              

      

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

    

    

     

    
       

      
        	
                
                  
                    
                      3.4.2  
                        Supervisión
                        de ingeniería básica, especificaciones de ingeniería de detalle,
                        precalificación y evaluación de ofertantes, aseguramiento de calidad y
                        control de actividades de construcción y puesta en marcha de
                        proyectos.

                    

                  

                  
                    
                      3.4.3  
                        Diseño
                        e implantación de métodos de planificación de producción y, en especial,
                        su integración junto con los sistemas de
                        información.

                    

                  

                  
                    
                      3.4.4  
                        Análisis
                        de compra de equipos o servicios, con respecto a calidad
                        y
                        precios.

                    

                  

                  

                  CUARTA: CARACTERISTICAS
                    DEL SERVICIO

                  

                  
                    
                      4.1  
                        OCEAN
                        MARINE asesorará
                        en las distintas áreas de PURE
                        BIOFUELS de
                        acuerdo a los términos del presente contrato y se podrá destacar personal
                        por OCEAN
                        MARINE
                        para supervisar y mantener un contacto proactivo en las actividades
                        derivadas de la asesoría materia de este contrato, en estrecha
                        coordinación y previa consulta al gerente general de PURE
                        BIOFUELS
                        y
                        demás funcionarios con capacidad de dirección.

                    

                  

                  

                  
                    
                      4.2  
                        OCEAN
                        MARINE establecerá
                        los procedimientos, necesarios para la mejor prestación de los servicios a
                        favor de PURE
                        BIOFUELS.

                    

                  

                  

                

              	 	
                
                  
                    
                      
                        3.4.2  
                          Supervision
                          of basic engineering, specifications of detailed engineering,
                          pre
                          qualification and evaluation of offerors, quality assurance
                          and control of
                          construction activities as well as project implementation.

                        
                          
                            3.4.3  
                              Design
                              and implementation of production planning methods and
                              especially their
                              integration to the information systems. 

                          

                        

                        
                          
                            3.4.4  
                              Analysis
                              of equipment or services acquisition regarding quality
                              and prices.
                              

                          

                        

                        
 

                        FOURTH: CHARACTERISTICS
                          OF THE SERVICES

                        

                        
                          
                            4.1  
                              OCEAN
                              MARINE shall
                              advice in the different divisions of PURE
                              BIOFUELS in
                              accordance with the terms hereof and its staff shall
                              be able to be
                              appointed in order to inspect and keep a proactive
                              contact in the
                              activities derived from the advice subject matter of
                              this agreement, in
                              close coordination and prior consultancy to the general
                              manager of
                              PURE
                              BIOFUELS
                              and other officers with management capacity. 

                          

                        

                        

                        
                          
                            4.2  
                              OCEAN
                              MARINE shall
                              establish the necessary procedures for the best rendering
                              of services in
                              favor of PURE
                              BIOFUELS.

                          

                        

                        

                      

                    

                  

                

              

      

       

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    
      
         

        
          	
                  
                    
                      
                        
                          
                            
                              4.3      
                                Sin
                                perjuicio de lo mencionado en los puntos precedentes,
OCEAN
                                MARINE
                                prestará sus servicios en las áreas administrativas, financieras y
                                productivas a favor de PURE
                                BIOFUELS,
                                previa coordinación y acuerdo de ambas partes
                                contratantes.

                            

                          

                          

                          
                            
                              4.4      OCEAN
                                MARINE y
                                en lo que respecta a los servicios comprendidos en
                                este contrato brindará
                                su asesoría en lo relacionado a las relaciones externas de
PURE
                                BIOFUELS frente
                                a las entidades estatales o privadas vinculadas a
                                las actividades de esta
                                última.

                            

                          

                          

                          
                            
                              4.5      Las
                                partes se reunirán periódicamente para tratar los temas relacionados a la
                                ejecución del presente contrato, tanto para evaluar los resultados
                                de la
                                asesoría efectuada como establecer el plan de trabajo de
                                nuevas acciones.
                                  

                            

                          

                          
                          

                          QUINTA: STAFF
                            PROFESIONAL

                          

                          Los
                            profesionales seleccionados por OCEAN
                            MARINE
                            para la prestación del servicio a favor de PURE
                            BIOFUELS
                            podrán ser personal de su propia planilla o personal independiente,
                            siempre que tenga el mismo grado de cualificación profesional y
                            experiencia que el requerido por OCEAN
                            MARINE
                            para el desempeño de las mismas funciones en las áreas y servicios que son
                            objeto de este contrato, es decir que OCEAN
                            MARINE puede
                            hacerse valer del apoyo o servicios de terceros para
                            cumplir con la
                            prestación contenida en este contrato, siempre que dichos terceros
                            cuenten
                            con las cualidades adecuadas.

                          

                        

                      

                    

                  

                	 	
                  
                    
                      
                        
                          
                            
                              
                                4.3     
                                  Without
                                  prejudice of the foregoing, OCEAN
                                  MARINE
                                  shall render its services in the administrative,
                                  financing and production
                                  divisions in favor of PURE
                                  BIOFUELS,
                                  prior coordination and agreement of both contracting
                                  parties.
                                  

                              

                            

                            

                            
                              
                                4.4   
                                  OCEAN
                                  MARINE,
                                  regarding the services included herein, shall advice
                                  in everything related
                                  to the external affairs of PURE
                                  BIOFUELS before
                                  the public or private entities related with the
                                  activities of the last
                                  mentioned. 

                              

                            

                            

                            
                              
                                4.5     
                                  The
                                  parties shall meet from time to time in order to
                                  deal with the subjects
                                  related to the execution hereof as well as to assess
                                  the results of the
                                  advice made and establish the work plan of new
                                  actions.

                              

                            

                               

                            

                            FIFTH: 
                              ROFESSIONAL
                              STAFF 

                            

                            The
                              professionals selected by OCEAN
                              MARINE
                              for rendering the services in favor of PURE
                              BIOFUELS
                              shall be staff of their own payroll or independent
                              staff provided that
                              they have the same professional qualification level
                              and experience
                              required by OCEAN
                              MARINE
                              for the performance of the same functions in the divisions
                              and services
                              subject of this agreement, i.e. that OCEAN
                              MARINE may use
                              the support or service of third parties to comply with
                              the rendering of
                              services contained herein, provided that such third
                              parties have the
                              correct qualification. 

                            

                          

                        

                      

                    

                  

                

        

         

         

         

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

      

    

    

    
       

      
        	
                
                  
                    
                      
                        
                          
                            
                              Queda
                                expresamente establecido que dentro del staff profesional
                                para la
                                prestación del presente contrato OCEAN
                                MARINE podrá
                                contar entre otros con los servicios de los señores: Carlos Alberto Pinto
                                Rocha; Luis Humberto Goyzueta Angobaldo y Gustavo
                                Adolfo Goyzueta
                                Angobaldo, asistencia que por este acto PURE
                                BIOFUELS declara
                                aceptar. 

                              

                              PURE
                                BIOFUELS
                                podrá determinar en cada oportunidad el tipo de colaboración que requiere
                                dentro del ámbito de los servicios a que se refiere el presente
                                contrato,
                                impartiendo las directivas o instrucciones que resulten
                                pertinentes para
                                el adecuado desarrollo de los referidos servicios
                                y ejerciendo las labores
                                de supervisión que considere convenientes.

                              

                              OCEAN
                                MARINE
                                le
                                informará a PURE
                                BIOFUELS
                                respecto del número de personas necesarias para la prestación de los
                                servicios y le comunicará su nominación. PURE
                                BIOFUELS
                                estará facultado para vetar, por causa justificada, el número de personas
                                o la designación de las mismas, en cuyo caso OCEAN
                                MARINE
                                deberá designar nuevos candidatos.

                              

                              PURE
                                BIOFUELS
                                podrá sustituir en cualquier momento a cualquiera de las
                                personas
                                designadas, de conformidad con su propia política de Recursos
                                Humanos.

                          

                        

                      

                    

                  

                

              	 	
                
                  
                    
                      
                        
                          
                            
                              It
                                is expressly established that OCEAN
                                MARINE
                                may have the collaboration, among others, of: Carlos
                                Alberto Pinto Rocha;
                                Luis Humberto Goyzueta Angobaldo y Gustavo Adolfo
                                Goyzueta Angobaldo
                                within the professional staff for the rendering of
                                services hereof. Their
                                support is declared to be accepted hereby by PURE
                                BIOFUELS.
                                

                              

                              PURE
                                BIOFUELS
                                may determine at any time the kind of the collaboration
                                required within
                                the scope of the services referred to herein by establishing
                                the pertinent
                                guidelines or instructions for the correct development
                                of such services
                                and execution of the supervision works deemed to
                                be convenient.
                                

                              

                              OCEAN
                                MARINE
                                shall inform PURE
                                BIOFUELS
                                about the number of people necessary for the rendering
                                of services and
                                their appointment shall also be reported. PURE
                                BIOFUELS
                                shall be entitled to veto, due to a justified cause,
                                the number of people
                                or appointment thereof, in which case OCEAN
                                MARINE
                                shall appoint new candidates. 

                              

                              PURE
                                BIOFUELS
                                shall be able to substitute at any time any of the
                                appointed people, in
                                accordance with its own Human Resources policy.
                                

                          

                        

                      

                    

                  

                

              

      

       

    

     

    
      
        
        

      

      
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                              SEXTA: EXONERACION
                                DE RESPONSABILIDAD DE LAS PARTES

                                 

                              Ningún
                                incumplimiento o retraso de cualquiera de las partes
                                en el cumplimiento de
                                sus obligaciones dará lugar a reclamación de una parte frente a la otra,
                                cuando dicho incumplimiento o retraso tenga su origen
                                en causa de fuerza
                                mayor o caso fortuito, entendiéndose por tal, a los efectos del presente
                                contrato, cualquier acontecimiento
                                o circunstancia razonablemente fuera del control
                                de las
                                partes.

                                

                              Sin
                                perjuicio de lo dispuesto en el párrafo anterior, ninguna de las partes
                                quedará liberada del pago de cualquier cantidad adeudada
                                en virtud de este
                                contrato. Asimismo, las partes dejan constancia que
                                ninguna crisis
                                económica y/o financiera, escasez de liquidez y/o de flujo
                                de caja serán
                                consideradas como causas de fuerza o mayor o caso
                                fortuito.

                              

                              Las
                                partes se notificarán inmediatamente la existencia de cualquier causal
                                de
                                fuerza mayor o causa mayor que exima o pueda eximir
                                el incumplimiento de
                                sus obligaciones con arreglo a lo pactado en la presente
                                cláusula.

                          

                        

                      

                    

                  

                

              	 	
                
                  
                    
                      
                        
                          
                            
                              
                                SIXTH: 
                                  WAIVER OF RESPONSIBILITIES FROM THE PARTIES 

                                 

                                Any
                                  failure to compliance or default of any of the
                                  parties in the compliance
                                  with their obligations shall result in a claim
                                  of one party against the
                                  other, when such failure to compliance or default
                                  resulted from
                                  unforeseeable circumstances or force majeure. They
                                  shall be understood as
                                  any event or circumstance reasonably beyond the
                                  control of the parties, to
                                  the effects of this agreement. 

                                

                                Without
                                  prejudice of the foregoing, any of the parties
                                  shall be exempted from the
                                  payment of any amount owed hereunder. Furthermore,
                                  the parties hereby
                                  record that no economic and/or financial crisis,
                                  liquidity shortage and/or
                                  cash flow shall be considered as unforeseeable
                                  circumstances or force
                                  majeure.
                                  

                                

                                The
                                  parties shall inform forthwith to the other party
                                  of the existence of any
                                  unforeseeable circumstances or force majeure that
                                  exempt or may exempt
                                  from complying with their obligations in accordance
                                  herewith.
                                  

                              

                            

                          

                        

                      

                    

                  

                

              

      

       

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

    

     

    
       

      
        	
                
                  
                    
                      
                        
                          
                            
                              
                                SÉPTIMA:
                                   PLAZO

                                

                                El
                                  plazo de vigencia del presente contrato será de dos (02) años contados a
                                  partir de la fecha de suscripción del mismo.

                                

                                Queda
                                  expresamente establecido entre las partes que si
                                  vencido el plazo indicado
                                  en el párrafo precedente y OCEAN
                                  MARINE continuará
                                  brindado sus servicios a PURE
                                  BIOFUELS, no
                                  se entenderá que hay prórroga tácita de este contrato sino la continuación
                                  del servicio en los términos pactados en este acuerdo hasta que cualquiera
                                  de las partes solicite su termino, lo cual podrá ocurrir en cualquier
                                  momento después de terminado el plazo de vigencia a que se refiere
                                  esta
                                  cláusula sétima.

                                

                                OCTAVA:
                                   RESOLUCIÓN

                                

                                Conforme
                                  a lo dispuesto por el Artículo 1429° del Código Civil el incumplimiento
                                  por cualesquiera de las partes de las obligaciones
                                  que le son inherentes
                                  en virtud del presente contrato, autoriza a la
                                  otra parte a requerirla,
                                  para que satisfaga la prestación a su cargo en un plazo no menor de quince
                                  (15) días bajo apercibimiento de que en caso contrario,
                                  el contrato queda
                                  resuelto de pleno derecho.

                                

                                Si
                                  la prestación u obligación no se cumple dentro del plazo señalado, el
                                  contrato se resolverá de pleno derecho, quedando a cargo del deudor la
                                  indemnización que de acuerdo a la ley pudiera corresponderle
                                  o los daños y
                                  perjuicios derivados del
                                  incumplimiento.

                            

                          

                        

                      

                    

                  

                

              	 	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  SEVENTH:
                                     TERM

                                  

                                  The
                                    effective period hereof shall be two (02) years
                                    counted from the execution
                                    date thereof. 

                                  

                                  It
                                    is expressly established between the parties
                                    that should the term
                                    mentioned in the precedent paragraph be due and
OCEAN
                                    MARINE continues
                                    rendering the services to PURE
                                    BIOFUELS, it
                                    shall not be understood that there is a implicit
                                    extension of this
                                    agreement but the continuation of the service
                                    in the terms agreed herein
                                    until any of the parties applies for its termination,
                                    which may happen at
                                    any time after the effectiveness term hereof
                                    is due referred to on the
                                    seventh clause. 

                                  

                                  EIGHTH:
                                     TERMINATION

                                  

                                  Pursuant
                                    to the Article 1429° from the Civil Code, the failure to comply with
                                    the
                                    obligations inherent to the any of the parties
                                    hereunder entitles the
                                    other party to demand the other party the compliance
                                    therewith in a term
                                    not longer than fifteen (15) days, otherwise,
                                    the agreement is terminated
                                    by operation of law. 

                                   

                                  

                                  If
                                    the rendering or obligation is not complied within
                                    such term, the
                                    agreement is terminated by operation of law.
                                    Therefore, the debtor is
                                    liable for the indemnity that may arise for the
                                    loss and damages derived
                                    therefrom in accordance with the law.

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

      

       

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

    

     

    

    
       

      
        	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  Sin
                                    perjuicio de ello, cualquiera de las partes podrá resolver el presente
                                    contrato sin conceder ningún plazo a la otra en caso éste incumpla las
                                    obligaciones asumidas en el presente contrato
                                    y, especialmente, en caso no
                                    ejecute las prestaciones pactadas en las cláusulas tercera y cuarta. Para
                                    ello bastará que la parte afectada curse una comunicación a la contraparte
                                    haciéndole saber su decisión de valerse de la presente
                                    estipulación.

                                  

                                  La
                                    parte que procediera a la terminación del contrato invocando
                                    justificadamente la presente cláusula, quedará liberada de toda
                                    responsabilidad y estará exenta del pago de todo tipo de indemnizaciones
                                    por reparaciones de cualquier índole, derivadas de la resolución del
                                    contrato.

                                  

                                  NOVENA:
                                     CONTRAPRESTACION

                                  

                                  Por
                                    los servicios prestados, PURE
                                    BIOFUELS
                                    se
                                    obliga a abonar en favor de OCEAN
                                    MARINE en
                                    calidad de contraprestación lo siguiente:

                                  

                                  
                                    
                                      9.1.     
                                        Por
                                        los servicios que se presten desde el mes
                                        de octubre del 2006 a junio del
                                        2007, se pagará la suma de US$ 33,335.00 (Treinta y Tres
                                        Mil Trescientos
                                        Treinta y Cinco con 00/100 Dólares Norteamericanos)
                                        mensuales.

                                    

                                  

                              

                            

                          

                        

                      

                    

                  

                

              	 	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    Without
                                      prejudice thereof, any of the parties may terminate
                                      this agreement without
                                      granting any term to the other party should
                                      one party fail to comply with
                                      the obligations assumed herein and, especially,
                                      should one party fail to
                                      comply with the services agreed on the third
                                      and fourth clause. Thus, it
                                      shall be enough that the affected party files
                                      a notice to the other party
                                      informing its decision to exercise this provision.

                                    

                                    The
                                      party that terminates this agreement by alleging
                                      this clause with due
                                      grounds shall be released from any liability
                                      and exempted from the payment
                                      of any kind of compensation for damage of any
                                      type derived from the
                                      termination hereof. 

                                    

                                    NINTH:
                                       CONSIDERATION

                                    

                                    For
                                      the services rendered, PURE
                                      BIOFUELS
                                      agrees to pay in favor of OCEAN
                                      MARINE as
                                      consideration the following: 

                                      

                                    
                                      
                                        9.1.    
                                          For
                                          the services rendered from October 2006
                                          to June 2007, the amount of US$
                                          33,335.00 shall be paid (Thirty Three Thousand
                                          Three Hundred Thirty Five
                                          with 00/100 American Dollars) per
                                          month.

                                      

                                    

                                

                              

                            

                          

                        

                      

                    

                  

                

              

      

       

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      

      
         

        
          	
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    Las
                                      partes considerando que PURE
                                      BIOFUELS debe
                                      programar el pago de las inversiones iniciales
                                      de su planta que se
                                      construirá a fines del año 2007, convienen que el honorario a que se
                                      refiere este numeral 9.1. será pagado a mas tardar el 15 de julio del
                                      2007, caso contrario OCEAN
                                      MARINE
                                      podrá resolver el presente contrato y solicitar el
                                      pago de la
                                      contraprestación adeudada más los intereses más altos permitidos por
                                      Ley.

                                    

                                    9.2.         
                                      A
                                      partir del mes de julio del 2007, la contraprestación mensual será de US$
                                      28,335.00 (Veintiocho Mil Trescientos treinta
                                      y cinco con 00/100 Dólares
                                      Norteamericanos) mensuales, los cuales se pagarán por mes
                                      vencido.

                                    

                                    Sin
                                      perjuicio a la disposición del staff profesional que decida OCEAN
                                      MARINE
                                      para la prestación del servicio objeto de este Contrato, las
                                      partes acuerdan que por la intervención del Sr. Carlos Alberto Pinto Rocha
                                      OCEAN
                                      MARINE
                                      cobrará a PURE
                                      BIOFUELS
                                      la
                                      suma de US$ 10,000.00 (Diez Mil con 00/100
                                      Dólares Norteamericanos), por
                                      la intervención de Luis Humberto Goyzueta Angobaldo la suma
                                      de US$
                                      10,835.00 (Diez Mil Ochocientos Treinta y Cinco
                                      con 00/100 Dólares
                                      Norteamericanos) y por la participación de Gustavo Adolfo Goyzueta
                                      Angobaldo la suma de US$ 7,500.00 (Siete Mil
                                      Quinientos con 00/100 Dólares
                                      Americanos).

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                	 	
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      parties
                                        when considering that PURE
                                        BIOFUELS shall
                                        schedule the payment of the initial investments
                                        of its plant to be
                                        constructed by the end of 2007, agree that
                                        the amount referred to in this
                                        sub paragraph 9.1. shall be paid not later
                                        than July 15th
                                        2007, otherwise, OCEAN
                                        MARINE
                                        may terminate this agreement and apply for
                                        the due consideration payment
                                        plus the highest interest rates permitted
                                        by Law. 

                                      

                                      9.2.         
                                        From
                                        July 2007, the monthly consideration shall
                                        be US$ 28,335.00 (Twenty eight
                                        thousand three hundred and thirty five with
                                        00/100 American Dollars) per
                                        month, which shall be paid per due month.

                                      

                                      Without
                                        prejudice of the provision of the professional
                                        staff decided by
                                        OCEAN
                                        MARINE
                                        for the rendering of service subject matter
                                        of this Agreement, the parties
                                        agree that in consideration to the collaboration
                                        of Carlos Alberto Pinto
                                        Rocha OCEAN
                                        MARINE
                                        collects the amount of US$ 10,000.00 (Ten
                                        Thousand with 00/100 American
                                        Dollars), in consideration to the collaboration
                                        of Luis Humberto Goyzueta
                                        Angobaldo, the amount of US$ 10,835.00 (Ten
                                        Thousand Eight Hundred Thirty
                                        Five with 00/100 American Dollars) and in
                                        consideration to the
                                        collaboration of Gustavo Adolfo Goyzueta
                                        Angobaldo the amount of US$
                                        7,500.00 (Seven Thousand Five Hundred with
                                        00/100 American Dollars) from
                                        PURE
                                        BIOFUELS.

                                      

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

        

         

         

         

        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

      

    

     

    
       

      
        	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    DECIMA:
                                       RESOLUCION

                                    

                                    No
                                      obstante, los plazos establecidos en la cláusula cuarta de este contrato,
                                      OCEAN
                                      MARINE
                                      o
                                      PURE
                                      BIOFUELS
                                      quedarán facultadas para resolver total o parcialmente
                                      el presente
                                      contrato en caso se produzca el incumplimiento
                                      de las obligaciones
                                      asumidas por cualquiera de ellas en virtud
                                      del mismo.

                                    

                                    Para
                                      ello, la parte afectada con el incumplimiento
                                      deberá comunicarle a la otra
                                      su intención de resolver el presente contrato, otorgándole un plazo máximo
                                      de quince (15) días a efectos que adecue su comportamiento a
                                      lo
                                      establecido en el mismo, de no ocurrir ello,
                                      el contrato se entenderá
                                      resuelto, parcial o totalmente, de pleno derecho.

                                    

                                    DECIMO
                                      PRIMERA: INDEPENDENCIA
                                      DE LAS PARTES

                                    

                                    En
                                      la medida que entre OCEAN
                                      MARINE
                                      y
                                      PURE
                                      BIOFUELS
                                      no
                                      existe sino una simple relación civil y comercial derivada del presente
                                      contrato, queda claramente establecido que
                                      cada una será responsable
                                      frente a sus trabajadores por los respectivos
                                      derechos y beneficios
                                      laborales de éstos.

                                    

                                    Asimismo,
                                      OCEAN
                                      MARINE
                                      no
                                      se responsabiliza por el incumplimiento por
                                      parte de PURE
                                      BIOFUELS
                                      de
                                      sus obligaciones en materia administrativa,
                                      tributaria o, en general, por
                                      la obtención o renovación de sus autorizaciones, permisos, licencias,
                                      concesiones o similares exigidos para el desarrollo
                                      de sus actividades
                                      empresariales.

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              	 	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      TENTH:
                                         TERMINATION

                                      

                                      Notwithstanding
                                        the terms established in the fourth clause
                                        hereof, OCEAN
                                        MARINE
                                        or
                                        PURE
                                        BIOFUELS
                                        shall be entitled to terminate this agreement
                                        totally or partially in case
                                        any of the parties fail to comply with the
                                        obligations assumed by any of
                                        them hereunder. 

                                      

                                      To
                                        such effect, the party affected with such
                                        the failure of compliance shall
                                        report to the other party its intention to
                                        terminate this agreement by
                                        granting a maximum term of fifteen (15) days
                                        in order that it can arrange
                                        its behavior to the established obligation,
                                        otherwise, this agreement
                                        shall be terminated partially or totally
                                        by operation of law.

                                      

                                      ELEVENTH:  INDEPENDENCE
                                        OF THE PARTIES 

                                      

                                      To
                                        the extent that between OCEAN
                                        MARINE
                                        and PURE
                                        BIOFUELS
                                        there is only a simple civil and commercial
                                        relation derived from this
                                        agreement, it is clearly established that
                                        each party is responsible before
                                        its workers for the corresponding rights
                                        and labor benefits thereof.
                                        

                                      

                                      Furthermore,
                                        OCEAN
                                        MARINE
                                        is
                                        not responsible for the failure to comply
                                        with PURE
                                        BIOFUELS’s
                                        obligations in administrative, tax or in
                                        general matters, for the
                                        obtaining or renewal of its authorizations,
                                        permissions, licenses,
                                        concessions or similar required for the development
                                        of its business
                                        activities. 

                                    

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

      

       

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

    

    

    
       

      
        	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      DECIMO
                                        SEGUNDA:
                                        CONFIDENCIALIDAD

                                      

                                      OCEAN
                                        MARINE,
                                        así como sus funcionarios, empleados y servidores,
                                        si los tuviera, se
                                        comprometen a mantener la mayor confidencialidad
                                        sobre cualquier
                                        información que puedan recibir con relación a la prestación del servicio
                                        materia del presente contrato.

                                      

                                      No
                                        estará sujeta a la anterior restricción la información que fuere requerida
                                        revelar y divulgar, en la medida que ello
                                        así lo fuere, por las leyes o
                                        por las normas jurídicas o reglamentos vigentes respecto de
                                        cualquier
                                        Bolsa de Comercio o Mercado de Valores en
                                        que se coticen o transen las
                                        acciones u otros valores de las partes, y/o
                                        de cualquiera de sus socios, o
                                        que se relacionen con una solicitud a cualquier
                                        Bolsa de Comercio o
                                        Mercado de Valores, incluyéndose, en todos los casos la información que
                                        debe ser suministrada a los respectivos organismos
                                        de control. 

                                      

                                      DECIMO
                                        TERCERA:
                                        INCESIBILIDAD DEL PRESENTE CONTRATO:

                                      

                                      Queda
                                        claro que OCEAN
                                        MARINE
                                        deberá prestar los servicios materia del presente
                                        contrato de manera
                                        directa, no pudiendo ceder, transferir ni
                                        desprenderse en favor de
                                        terceros de alguna de las obligaciones asumidas
                                        en virtud del mismo, salvo
                                        autorización escrita de PURE
                                        BIOFUELS.

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              	 	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      TWELVETH:
                                         CONFIDENTIALITY

                                      

                                      OCEAN
                                        MARINE,
                                        as well as its officials, employees and collaborators,
                                        as appropriate,
                                        agrees to keep the greatest confidentiality
                                        about any kind of information
                                        that it may receive in relation with the
                                        rendering of service subject
                                        matter of this agreement. 

                                      

                                      The
                                        information required to be disclosed and
                                        communicated according to the
                                        laws or legal rules or regulations in force
                                        with respect to any Stock
                                        Market or the Stock Exchange Market where
                                        the shares are listed or
                                        transferred or other securities from the
                                        parties, and/or any of their
                                        partners, or which are related to an application
                                        to any Stock Market or
                                        the Stock Exchange Market, including, in
                                        any case the information that
                                        shall be supplied to the corresponding controlling
                                        entities shall not be
                                        subject to the previous restriction. 

                                      

                                      THIRTEENTH:  ASSIGNMENT
                                        OF THIS AGREEMENT 

                                      

                                      It
                                        is hereby clearly established that OCEAN
                                        MARINE
                                        shall render the services subject matter
                                        of this agreement directly, and
                                        no obligations hereunder may be assigned,
                                        transferred or given to third
                                        parties except for the written authorization
                                        of PURE
                                        BIOFUELS.
                                        

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

      

       

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
       

      
        	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        DECIMO
                                          CUARTA: COMPETENCIA
                                          Y DOMICILIO DE LAS PARTES

                                        

                                        Las
                                          partes señalan como sus domicilios los indicados
                                          en la introducción de
                                          este documento, lugares donde se remitirán todas las comunicaciones o
                                          notificaciones a que hubiese lugar.

                                        

                                        Asimismo
                                          establecen que en caso de conflicto respecto
                                          de la ejecución o
                                          interpretación del presente contrato se someterán a la jurisdicción de los
                                          jueces Lima.

                                        

                                        Las
                                          partes suscriben el presente contrato en
                                          la ciudad de Lima a los 29 días
                                          del mes de septiembre de
                                          2006.

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              	 	
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      FOURTEENTH: JURISDICTION
                                        AND DOMICILE OF THE PARTIES 

                                      

                                      The
                                        parties establish as their domiciles those
                                        indicated in the introduction
                                        hereof. Any communication or notice shall
                                        be addressed to such places.
                                        

                                      

                                      Additionally,
                                        the parties submit to the jurisdiction of
                                        the judges of Lima in case of
                                        conflict with regards to the execution or
                                        construction hereof.
                                        

                                      

                                      The
                                        parties execute this agreement in the city
                                        of Lima this 29th of September
                                        2006.

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

      

       

      

        
          	 	
                  OCEAN
                    MARINE

                	 	
                  PURE
                    BIOFUELS

                	 	
                  OCEAN
                    MARINE

                	 	
                  PURE
                    BIOFUELS

                	 
	 	 	 	 	 	 	 	 	 
	 	
                  /s/

                	 	
                  
                  

                  /s/

                	 	
                  /s/ 

                	 	
                  /s/

                	 
	 	 	 	 	 	 	 	 	 

        

      

       

      
        
          
          

        

        
          14

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