Document:

renewablefuelcorpf10ex10-10.htm

    
      

      

    

    Exhibit 10.10

     

    
      
         

        
          
            
              	
                       

                      CONFIDENTIAL
      INVESTOR QUESTIONNAIRE

                       

                      RENEWABLE
      FUEL CORP

                      a
      Nevada corporation

                       

                       

                    

            

          

        

         

        
          
 

        

      

       

      INSTRUCTIONS:

       

      
        	
                 
      

              	
                1.

              	
                In
      order to assure compliance with applicable federal law, it is necessary to
      obtain information regarding the financial position and experience of
      investors in the Company.  Please complete this Confidential
      Investor Questionnaire.

              

      

       

      
        	
                 
      

              	
                2.

              	
                Please
      return the completed Confidential Investor Questionnaire
    to:

              

      

       

      C.
Parkinson Lloyd, Esq.

       

      c/o
Durham Jones & Pinegar

       

      111 East
Broadway

       

      Suite
900

       

      Salt Lake
City, UT 84111

       

      Telephone:   (801)
415-3000

       

      Facsimile:   (801)
415-3500

       

      Email:   plloyd@djplaw.com

       

      
        	
                 
      

              	
                3.

              	
                Capitalized
      terms not otherwise defined herein shall have the meaning ascribed to them
      in the Subscription Agreement.

              

      

       

      

      
        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

      

      PART
I.                      GENERAL
INFORMATION (ATTACH ADDITIONAL SHEETS IF NECESSARY)

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	 
      	
                                    To
      be completed by all Investors.

                                     

                                  
	
                                     

                                  	
                                    1.

                                  	
                                    Name:

                                  	
                                    Oilcorp
      International Limited

                                  
	 
      	 
      	 
      	 
      
	 	 	 
	
                                     

                                  	
                                    2.

                                  	
                                    Address:

                                  
	 
      	 
      	 
      	
                                    Business:

                                  	
                                    No.
      2-2, Jalan SS6/8, Kelana Jaya, 47301 Petaling Jaya, Selangor,
      Malaysia

                                  
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                                    Registered:

                                  	
                                    Palm
      Grove House, P.O. Box 438, Toad Town, Tortola, British Virgin
      Islands

                                  
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                    Note:  The
      Company may deliver time-sensitive documents by Federal
      Express.  Please provide the Partnership with a street address
      since Federal Express will not deliver to post office
    boxes.

                                  
	 	 	 
	
                                     

                                  	
                                    3.

                                  	
                                    Telephone:

                                  
	 
      	 
      	 
      	
                                    Business:

                                  	
                                    (603)
      7804 4843

                                  
	 
      	 
      	 
      	
                                    Residence:

                                  	
                                    (   
        ) Not applicable

                                  
	 	 	 	 
	
                                     

                                  	
                                    4.

                                  	
                                    Date
      of Birth:

                                  	
                                    Not
      applicable

                                  
	
                                     

                                  	
                                     

                                  	
                                    (to
      be completed by individual Investors)

                                     

                                  
	
                                     

                                  	
                                    5.

                                  	
                                    Marital
      status:

                                  	
                                    Not
      applicable

                                  
	
                                     

                                  	
                                     

                                  	
                                    (to
      be completed by individual
Investors)

                                  

                          

                        

                      

                    

                     

                    
                      
                        
                          	
                                   

                                	
                                  6.

                                	
                                  Social
      Security Number or Federal Employer Identification Number:

                                	
                                  Not
      applicable

                                

                        

                         

                        
                          	
                                   

                                	
                                  7.

                                	
                                  The
      undersigned is (check the applicable subparagraph):

                                
	 
      	 
      	o  	
                                  A
      United States Person; or

                                
	 
      	 
      	o 
      	
                                  A
      non-United States
Person.

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      For
purposes of this Confidential Investor Questionnaire, “United States Person” or
“U.S. Person” means (A) any natural person resident in the United States;
(B) any partnership or corporation organized or incorporated under United
States laws; (C) any estate of which any executor or administrator is a
U.S. Person; (D) any trust of which any trustee is a U.S. Person;
(E) any agency or branch of a foreign entity located in the United States;
(F) any non-discretionary account (other than an estate or trust) held by a
dealer or other fiduciary for the benefit of a U.S. Person; (G) any
discretionary account (other than an estate or trust) held by a dealer or other
fiduciary incorporated or resident in the United States; and (H) any
partnership or corporation organized or incorporated under the laws of any
foreign jurisdiction and formed by a U.S. Person principally for the purpose of
investing in unregistered securities (unless owned by accredited investors who
are not natural persons, estates or trusts).  A “non-United States
Person” means any person other than a United States Person.

       

      
        
          
             

          

          
            2

            
              

            

          

          
             

          

        

      

       

      PART
II.                      INVESTMENT
REPRESENTATIONS

       

      
        
          
            
              
                
                  	 
      	
                          To
      be completed by all Investors.

                           

                        
	
                          A.

                        	
                          Legal Structure of
      Investor (INDIVIDUALS
      SHOULD SKIP)

                           

                        
	
                           

                           

                        	
                          1.

                           

                        	
                          The
      Investor has been duly formed and is validly existing and has full power
      and authority to invest in the Partnership.  The person signing
      on behalf of the undersigned has the authority to execute and deliver the
      Subscription Agreement on behalf of the Investor and to take other actions
      with respect thereto.

                           

                        
	
                           

                        	
                          2.

                        	
                          Indicate
      the form of entity of the undersigned:

                           

                        
	 
      	 
      	o  	
                          Limited
      Partnership

                           

                        
	 
      	 
      	o  	
                          General
      Partnership

                           

                        
	 
      	 
      	x  	
                          Corporation

                           

                        
	 
      	 
      	o  	
                          Limited
      Liability Company

                           

                        
	 
      	 
      	o  	
                          Revocable
      Trust (If the trust does not have $5 million in assets or if the trust was
      specifically formed for the purpose of this investment, identify each
      grantor and indicate under what circumstances the trust is revocable by
      the grantor.  Also indicate the category in Section B below that
      describes how each such grantor is qualified as an “Accredited
      Investor”):

                        
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                          (Continue
      on a separate piece of paper, if necessary.)

                           

                        
	 
      	 
      	o  	
                          Other
      type of Trust (indicate type of trust and, for trusts other than pension
      trusts, name the grantors and beneficiaries):

                        
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                          (Continue
      on a separate piece of paper, if necessary.)

                           

                        
	 
      	 
      	o  	
                          Other
      form of organization (indicate form of
  organization):

                        

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                  
                    	
                             

                          	
                            3.

                          	
                            The
      approximate date the undersigned entity was formed:

                          	
                            18
      November 2008

                          
	 	 	 	 
	
                             

                          	
                            4.

                          	
                            State
      of principal place of business:

                          	
                            British
      Virgin Islands

                          
	 	 	 	 
	
                             

                          	
                            5.

                          	
                            Country
      of organization:

                          	
                            British
      Virgin
Islands

                          

                  

                

              

            

          

        

      

      

      
        
          
             

          

          
            3

            
              

            

          

          
             

          

        

      

      

      
      

      
        	
                B.

              	
                Verification of Status
      as an “Accredited Investor”

              

      

       

      In order
for the Partnership to offer and sell the Interests in conformity with state and
federal securities laws, the following information must be obtained regarding
your investor status.

       

      If an
INDIVIDUAL, please
answer the following items:

       

      
        
          
            
              
                
                  	 	
                          o

                          True

                           

                        	
                          o

                          False

                        	
                          (1)  
      The Investor is a natural person whose net worth, either individually or
      jointly with such Investor’s spouse, exceeds
$1,000,000;

                        
	 	
                          o

                          True

                           

                        	
                          o

                          False

                        	
                          (2)  
      The Investor is a natural person who had an income in excess of $200,000,
      or joint income with such Investor’s spouse in excess of $300,000, in each
      of the two most recent years and reasonably expects to have income
      reaching the same level in the current year;

                        
	 	
                          o

                          True

                           

                        	
                          o

                          False

                        	
                          (3)  
      The Investor is a director, executive officer, or manager of the
      Company.

                        

                

              

            

          

        

      

      The term
“net worth” means the excess of total assets over total
liabilities.  In calculating “net worth,” the undersigned may include
the estimated fair market value of the Investor’s principal residence as an
asset.

       

      In
determining individual “income,” the Investor should (i) add to the
Investor’s individual adjusted gross income (exclusive of any spousal income)
any amounts attributable to tax exempt income received, losses claimed as a
member in any limited partnership, deductions claimed for depletion,
contributions to an IRA or Keogh retirement plan to the extent vested, alimony
payments, and any amount by which income from long-term capital gains has been
reduced in arriving at adjusted gross income and (ii) subtract from the
Investor’s individual adjusted gross income any unrealized capital
gain.

       

      If NOT AN
INDIVIDUAL (e.g. partnership, corporation, or limited liability
company),
please check each category that is applicable:

       

      
        	
                 
      x

              	
                (1)

              	 	
                The
      Investor is a corporation, a partnership, a limited liability company, a
      Massachusetts or similar business trust, or an organization described in
      Section 501(c)(3) of the Internal Revenue Code, not formed for the
      specific purpose of acquiring the Interest, with total assets in excess of
      $5,000,000;

              

      

       

      
        	
                o

              	
                (2)

              	 	
                The
      Investor is a bank as defined in Section 3(a)(2) of the Securities Act, or
      a savings and loan association or other institution as defined in
      Section 3(a)(5)(A) of the Securities Act, whether acting in its
      individual or fiduciary capacity;

              

      

       

      
        	
                o

              	
                (3)

              	 	
                The
      Investor is a broker or dealer registered pursuant to Section 15 of the
      Securities Exchange Act of 1934;

              

      

       

      
        	
                o

              	
                (4)

              	 	
                The
      Investor is an insurance company as defined in Section 2(13) of the
      Securities Act;

              

      

       

      
        	
                o

              	
                (5)

              	 	
                The
      Investor is an investment company registered under the Investment Company
      Act of 1940 or a business development company as defined in Section
      2(a)(48) of that Act;

              

      

       

      
        	
                o

              	
                (6)

              	 	
                The
      Investor is a Small Business Investment Company licensed by the U.S. Small
      Business Administration under Section 301(c) or (d) of the Small Business
      Investment Act of 1958;

              

      

       

      
        	
                o

              	
                (7)

              	 	
                The
      Investor is a plan established and maintained by a state, its political
      subdivisions, or any agency or instrumentality of a state or its political
      subdivisions, for the benefit of its employees, and such plan has total
      assets in excess of $5,000,000;

              

      

       

      
        
          
             

          

          
            4

            
              

            

          

          
             

          

        

      

       

      
        	
                o

              	
                (8)

              	 	
                The
      Investor is an employee benefit plan within the meaning of the Employee
      Retirement Income Security Act of 1974, and (i) the investment decision is
      made by a plan fiduciary, as defined in Section 3(21) of such Act, which
      is either a bank, savings and loan association, insurance company, or
      registered investment adviser, or (ii) the employee benefit plan has total
      assets in excess of $5,000,000 or, (iii) if a self-directed plan, the
      investment decisions are made solely by persons that are accredited
      investors;

              

      

       

      
        	
                o

              	
                (9)

              	 	
                The
      Investor is a private business development company as defined in Section
      202(a)(22) of the Investment Advisers Act of
  1940;

              

      

       

      
        	
                o

              	
                (10)

              	
                 

              	
                The
      Investor is a manager of the
Partnership;

              

      

       

      
        	
                o

              	
                (11)

              	 	
                The
      Investor is a trust, with total assets in excess of $5,000,000, not formed
      for the specific purpose of acquiring the Interest, whose purchase is
      directed by a sophisticated person who has such knowledge and experience
      in financial and business matters that such person is capable of
      evaluating the merits and risks of investing in the
      Partnership;

              

      

       

      
        
          	
                  o

                	
                  (12)

                	 	
                  The
      Investor is an entity in which all of the equity owners qualify under any
      of the above categories (including the categories for individuals listed
      in the immediately preceding section).  If the undersigned
      belongs to this investor category only, list the equity owners of the
      undersigned, and the investor category which each such equity owner
      satisfies:

                
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	
                  (Continue
      on a separate piece of paper, if
necessary.)

                

        

      

       

       

      
        	
                C.

              	
                Verification of Status
      as an Employee Benefit Plan (SKIP
      IF AN INDIVIDUAL):

              

      

       

      The
undersigned is:

       

      
        	 	
                o

                True

                 

              	
                o

                False

              	
                (1)  
      an employee benefit plan (as defined in section 3(3) of ERISA), whether or
      not it is subject to the provisions of Title I of ERISA;
  or

              
	 	
                o

                True

                 

              	
                o

                False

              	
                (2)  
      a plan described in section 4975(e)(1) of the Internal Revenue Code;
      or

              
	 	
                o

                True

              	
                o

                False

              	
                (3)  
      an entity which is deemed to be a “benefit plan investor” under the Final
      Regulation of the Department of Labor, published in the Federal Register
      on November 13, 1986 (the “Final Regulation”) because its underlying
      assets include “plan assets” by reason of a plan’s investment in the
      entity (including, by way of example only, a partnership not qualifying as
      an operating company within the meaning of the Final Regulation, which is
      25% or more owned by entities described in (1) or (2) above).

                 

              

      

      If the
Investor is an Employee Benefit Plan (the “Plan”) within the meaning of
Title I of the Employee Retirement Income Security Act of
1974:

       

      
        	 	
                o

                True

              	
                o

                False

              	
                The
      investment in the Partnership is a permitted investment under the
      documents and instruments governing the
Plan.

              

      

      

      
        
          
             

          

          
            5

            
              

            

          

          
             

          

        

      

      

      THE
UNDERSIGNED AGREES TO NOTIFY THE COMPANY IMMEDIATELY IF ANY  RESPONSE
ABOVE BECOMES INACCURATE AT ANY TIME, INCLUDING ANY TIME FOLLOWING THE
CLOSING.  If
the undersigned is uncertain as to the correct response above, the undersigned
should consult with its legal counsel in completing its response above, or
should contact C. Parkinson Lloyd, Esq. at (801) 415-3000, counsel to the
Company.

       

      

       

      
        	
                Executed
      on:  2
      December 2008                                                                          
                    
                         

                                                                                      
       Date

                 

                Oilcorp International
      Limited                                                                                          
                    
             

                                                                        
      Print Name of Investor

                 

                By
      /s/                                                                                                                                     
                          

                                                                         
                 
      Signature

                 

                Ng Huat Tian,
      Director     
                                                                                                                           
      

                                                            
        Print Name of Signatory and Title

                 

                WITNESS::   /s/                                                                                                                                        
      

                                                                                      
      Signature

                 

                Koh Sui
      Ming                                                                                         
                                                       
      

                                                                          
      Print Name of Witness

              

      

       

      * * * *
*

      

      
        
          
             

          

          
            6

            
              

            

          

          
             

          

        

      

      

      ANNEX A

       

      The
relevant section of Rule 13d-3 of the Securities and Exchange Act of 1934 as
amended, as referred to in Section C of Part II of the Confidential Investor
Questionnaire, provides:

       

      (a)           ...
“[a] beneficial owner of a security includes any person who, directly or
indirectly, through any contract, arrangement, understanding, relationship, or
otherwise has or shares:

       

      (1)           Voting
power which includes the power to vote, or to direct the voting of, such
security; and/or

       

      (2)           Investment
power which includes the power to dispose, or to direct the disposition of, such
security.

       

      (b)           Any
person who, directly indirectly, creates or uses a trust, proxy, power of
attorney, pooling arrangement or any other contract, arrangement, or device with
the purpose or effect of divesting such person of beneficial ownership of a
security or preventing the vesting of such beneficial ownership as part of a
plan or scheme to evade the reporting requirements of Section 13(d) or 13(g) of
the Act shall be deemed for purposes of such sections to be the beneficial owner
of such security.

       

      (c)           All
securities of the same class beneficially owned by a person, regardless of the
form which such beneficial ownership takes, shall be aggregated in calculating
the number of shares beneficially owned by such person.

       

      (d)           Notwithstanding
the provisions of paragraphs (a) and (b) of this rule:

       

      (1)           (i)    A
person shall be deemed to be the beneficial owner of a security, subject to the
provisions of paragraph (b) of this rule, if that person has the right to
acquire beneficial ownership of such security within 60 days, including but not
limited to any right to acquire:

       

      (A)           through
the exercise of any option, warrant or right;

       

      (B)           through
the conversion of a security;

       

      (C)           pursuant
to the power to revoke a trust, discretionary account, or similar arrangement;
or

       

      (D)           pursuant
to the automatic termination of a trust, discretionary account or similar
arrangement; provided, however; any person who acquires a security or power
specified in paragraph (A), (B) or (C) above, with the purpose or effect of
changing or influencing the control of the issuer, or in connection with or as a
participant in any transaction having such purpose or effect, immediately upon
such acquisition shall be deemed to be the beneficial owner of the securities
which may be acquired through the exercise or conversion of such security or
power.  Any securities not outstanding which are subject to such
options, warrants, rights or conversion privileges shall be deemed to be
outstanding for the purpose of computing the percentage of outstanding
securities of the class owned by such person but shall not be deemed to be
outstanding for the purpose of computing the percentage of the class by any
other person.

       

      (2)           A
member of a national securities exchange shall not be deemed to be a beneficial
owner of securities held directly or indirectly by it on behalf of another
person solely because such member is the record holder of such securities and,
pursuant to the rules of such exchange, may direct the vote of such securities,
without instruction, on other than contested matters or matters that may affect
substantially the rights or privileges of the holders of the securities to be
voted, but is otherwise precluded by the rules of such exchange from voting
without instruction.

      

      
        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

       

      (3)           A
person who in the ordinary course of business is a pledgee of securities under a
written pledge agreement shall not be deemed to be the beneficial owner of such
pledged securities until the pledgee has taken all formal steps necessary which
are required to declare a disposition of such pledged securities will be
exercise, provided
that: (i) the pledge agreement is ‘bona fide’ and was not
entered into with the purpose nor with the effect of changing or influencing the
control of the issuer, nor in connection with any transaction having such
purpose or effect, including any transaction subject to Rule 13d-3(b); (ii) the
pledgee is a person specified in Rule 13d-1(b)(1)(ii), including persons meeting
the conditions set forth in paragraph (G) thereof; and (iii) the pledgee
agreement, prior to default, does not grant to the pledgee:  (A) the
power to vote or to direct the vote of the pledged securities; or (B) the power
to dispose or direct the disposition of the pledged securities, other than the
grant of such power(s) pursuant to a pledge agreement under which credit is
extended subject to Regulation T and in which the pledgee is a broker or dealer
registered under Section 15 of the Act.

       

      (4)           A
person engaged in business as an underwriter of securities who acquires
securities through his participation in good faith in a firm commitment
underwriting registered under the Securities Act of 1933 shall not be deemed to
be the beneficial owner of such securities until the expiration of forty days
after the date of such acquisition.

       

      * * * *
*

      

       

      

      
        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

       

      
        
             

            
              

              

            

          
  SUBSCRIPTION
AGREEMENT 

      

       

      
        

        

      

       

      

      PRIVATE
PLACEMENT OF SHARES OF SERIES A PREFERRED STOCK

      OF

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      NEITHER
THE SHARES OF PREFERRED STOCK NOR THE SHARES OF COMMON STOCK UNDERLYING THE
PREFERRED STOCK (COLLECTIVELY, THE “SECURITIES”) REFERRED
TO IN THIS SUBSCRIPTION AGREEMENT HAVE BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR
THE SECURITIES LAWS OF ANY OTHER JURISDICTION.  SUCH SECURITIES ARE
BEING OFFERED AND SOLD IN RELIANCE UPON EXEMPTIONS PROVIDED BY THE SECURITIES
ACT.

       

      A
PURCHASER OF SECURITIES SHOULD BE PREPARED TO BEAR THE ECONOMIC RISK OF THE
INVESTMENT FOR AN INDEFINITE PERIOD OF TIME BECAUSE THE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OR THE LAWS OF ANY OTHER JURISDICTION, AND,
THEREFORE, CANNOT BE SOLD UNLESS THEY ARE SUBSEQUENTLY REGISTERED OR AN
EXEMPTION FROM REGISTRATION IS AVAILABLE.  THE ISSUER IS NOT OBLIGATED
TO REGISTER THE SECURITIES UNDER THE SECURITIES ACT OR THE LAWS OF ANY OTHER
JURISDICTION.  INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO
BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF
TIME.

       

      THESE
SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE
COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY
OR ADEQUACY OF THE OFFERING MATERIALS.  ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.

       

       

      CAREFULLY
REVIEW AND FOLLOW THE INSTRUCTIONS

      IMMEDIATELY
BEHIND THIS COVER PAGE.

       

      INCOMPLETE
SUBSCRIPTION AGREEMENTS

      AND
CONFIDENTIAL INVESTOR QUESTIONNAIRES

      WILL
BE RETURNED TO SUBSCRIBERS FOR COMPLETION. 

       

      

      

      
        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

      

      INSTRUCTIONS
TO SUBSCRIBERS

       

      In order
to subscribe for shares of Series A Preferred Stock of Renewable Fuel Corp, a
Nevada Corporation (the “Company”), please do the following:

       

      1.        
    Please Read and Complete the
Subscription Agreement in Its Entirety.  It contains certain
statements and certain representations required to be made by each
investor.  Complete, date and sign and have witnessed the two signature pages
of the Subscription Agreement.

       

      2.     
       Please Read and Complete the
Confidential Investor Questionnaire.  The information is
intended to establish among other things, whether you are an “accredited
investor” within the meaning of the Securities Act of 1933, as
amended.  Complete, date and sign and have witnessed the signature
page of the Confidential Investor Questionnaire.

       

      3.      
      Please Read and Complete the
Appropriate Internal Revenue Service Form.  The Form W-9
(Request for Tax Identification Number and Certification) must be completed if
you are a U.S. person, corporation, partnership, limited liability company,
trust, or other entity.  If you are not a U.S. person, corporation,
partnership, limited liability, trust or other entity, then please complete and
return either Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for
United States Tax Withholding), Form W-8ECI (Certificate of Foreign Person’s
Claim for Exemption From Withholding on Income Effectively Connected With the
Conduct of a Trade or Business in the United States), Form W-8EXP (Certificate
of Foreign Government or Other Foreign Organization for United States Tax
Withholding) or Form W-8IMY (Certificate of Foreign Intermediary, Foreign
Flow-Through Entity, or Certain U.S. Branches for United States Tax
Withholding), whichever is appropriate.  The information contained on
these forms will be used by the Company in filing its U.S. federal, state and
local income tax and information returns.

       

      4.       
     Please Read the Confidential
Term
Sheet.  The Confidential Term Sheet provides important
information about the offering and other information you should consider before
subscribing to purchase shares of the Company’s securities.

       

      5.        
    Return
Documents.  Please return (a) the completed Subscription
Agreement with two signed and witnessed signature pages, (b) the completed,
signed and witnessed Confidential Investor Questionnaire, and (c) the
completed and signed Form W-9, W-8BEN, W-8ECI, W-8EXP or W-8IMY, which ever is
appropriate, to:

       

      C.
Parkinson Lloyd, Esq.

      c/o
Durham Jones & Pinegar

      111 East
Broadway

      Suite
900

      Salt Lake
City, UT 84111

      Telephone:   (801)
415-3000

      Facsimile:   (801)
415-3500

      Email:   plloyd@djplaw.com

      

      
        
          
             

          

          
            i

            
              

            

          

          
             

          

        

      

       

      FOLLOWING
REVIEW OF THE SUBSCRIPTION AGREEMENT, QUESTIONNAIRES AND ATTACHMENTS, WHERE
APPLICABLE, BY DURHAM JONES & PINEGAR, THE SUBSCRIPTION AGREEMENT WILL BE
FORWARDED TO THE PRESIDENT OF THE COMPANY FOR ACCEPTANCE IN THE SOLE DISCRETION
OF THE COMPANY.

       

      INCOMPLETE SUBSCRIPTION
AGREEMENTS WILL BE RETURNED TO SUBSCRIBERS FOR COMPLETION.

       

      6.        
    Wire Transfer
Instructions.  Please arrange for a wire of immediately
available funds in the amount of your initial capital contribution on the date
of the Closing (as defined in Section 0 of the Subscription Agreement) into the Company’s bank account
in accordance with the following wire transfer instructions:

       

      
        
          
            
              
                
                  
                    
                      
                        
                          	 
      	
                                  Account
      Name:

                                	
                                  Renewable
      Fuel Corp

                                	 
      
	 	 	 	 
	 
      	
                                  Reference:

                                	
                                  [Insert
      Name of Subscriber]

                                	 
      
	 	 	 	 
	 
      	
                                  Bank:

                                	
                                  CitiBank

                                	 
      
	 	 	 	 
	 
      	
                                  Account
      Number:

                                	 
      	 
      
	 	 	 	 
	 
      	
                                  ABA/Transit
      No.:

                                	 
      	 
      

                        

                         

                      

                    

                  

                

              

            

          

        

      

      7.       
     Questions.  If
you have questions about completing the Subscription Agreement, please contact
C. Parkinson Lloyd, Esq. of Durham Jones & Pinegar, legal counsel for the
Company, at (801) 415-3000.

       

      ALL
INFORMATION SHOULD BE TYPED OR PRINTED IN INK.

      ANY
CORRECTIONS MUST BE INITIALED.

       

      PLEASE
NOTIFY THE COMPANY IMMEDIATELY IF THE INFORMATION YOU SUPPLY BECOMES INACCURATE
AT ANY TIME, INCLUDING ANY TIME FOLLOWING THE CLOSING.

       

      

      
        
          
             

          

          
            ii

            
              

            

          

          
             

          

        

      

      

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      SUBSCRIPTION
AGREEMENT

       

      
        
          
            
              
                
                  	
                          TO: 

                        	
                          Renewable
      Fuel Corp

                        
	 	      
                          c/o
      Durham Jones & Pinegar, P.C.

                        
	 	111
      East Broadway, Suite 900
	 	Salt
      Lake City, Utah 84111
	 	Attn:    C.
      Parkinson Lloyd,
Esq.

                

              

            

          

        

      

       

      Ladies
and Gentlemen:

       

        The
undersigned subscribing investor (the “Investor” or the
“undersigned”)
understands that (a) Renewable Fuel Corp, a newly formed Nevada corporation
(the “Company”), has been
formed pursuant to Nevada corporate law, and (b) the Company is offering
shares of its Series A Convertible Preferred Stock (the “Shares”) to certain
qualified investors, at a per share price of $10.00 per share.  The
undersigned has been provided with the final Confidential Term Sheet (the “Term Sheet”) as set
forth in Appendix A, as well as the Certificate of Designation of Rights and
Preferences of the Series A Preferred Stock (the “Certificate of
Designation”).  Capitalized terms used but not defined in this
Subscription Agreement (the “Subscription
Agreement”) shall have the respective meanings given them in the Term
Sheet or the Certificate of Designation, as applicable.

         

        1.       
     Subscription.  Subject to the terms and
conditions hereof, the undersigned hereby tenders this subscription (the
“Subscription”) in the amount set forth on the
undersigned’s signature page hereto or such lesser amount as the President of
the Company shall choose to accept pursuant to Section 2 below.  By signing below, the
undersigned acknowledges and agrees to the terms, conditions, rights, and
preferences of the Series A Preferred Stock as set forth in the Certificate of
Designation.

         

      

      2.        
    Acceptance
of Subscription.  It is understood and agreed
that this Subscription Agreement is made subject to the following terms and
conditions:

       

      (a)           The President of the Company shall have
the right to accept or reject this Subscription, in whole or in part, in its
sole and absolute discretion.  This Subscription shall be deemed to be
accepted and in the amount stated by the President of the Company when signed by
the President of the Company.  If the President of the Company chooses
to accept only part of the Subscription amount, then the President of the
Company shall be authorized to revise the amount indicated as the Subscription
on the undersigned’s signature page to this Subscription Agreement and shall
notify the undersigned in writing of such revision promptly after the
Closing.

      

      
        
          
             

          

          
            1

            
              

            

          

          
             

          

        

      

       

      3.  
          Closing;
Conditions to Closing.

       

      (a)           Time and
Place of Closing.  The closing of the sale and
purchase of the undersigned’s Shares (the “Closing”) shall take place at the offices of
the Company on such date and at such time as shall be selected by the President
of the Company (the “Closing
Date”).

       

      (b)           Undersigned’s
Conditions to Closing.  The undersigned’s
obligations hereunder are subject to the fulfillment, prior to or at the
Closing, of each of the following conditions:

       

      (i)           The Company’s acceptance of the
undersigned’s Subscription.

       

      (c)           Company’s
Conditions to Closing.  The Company’s obligations
hereunder are subject to acceptance by the President of the Company of the
undersigned’s Subscription, and to the fulfillment, prior to or at the Closing,
of each of the following conditions:

       

      (i)           The representations and warranties of
the undersigned contained in this Subscription Agreement shall be true and
correct at the Closing.

       

      (ii)           All proceedings in connection with the
transactions contemplated hereby and all documents and instruments incident to
such transactions shall be satisfactory in substance and form to the Company and
Durham Jones & Pinegar, its counsel, and the Company and its counsel shall
have received all such counterpart originals or certified or other copies of
such documents as the Company may reasonably request.

       

      (d)           Subscription
Amount Payable at Closing.  The undersigned’s
Subscription Amount shall be due and payable at the Closing.

       

      
        4.        
    Representations, Warranties, and Agreements of the
Company.  The
Company represents, warrants and agrees as follows:

         

        (a)           The Company is duly and validly
organized and validly existing as a corporation under the laws of the State of
Nevada, and has all requisite power and authority under its Articles of
Incorporation, as amended, and such laws to conduct its business as described in
the Articles of Incorporation.

      

       

      (b)           The Company is not in violation of any
term of its Articles of Incorporation or Bylaws or this Subscription Agreement
nor is it in material violation of any term of any other mortgage, indenture,
contract, agreement, instrument, judgment, decree, order, statute, rule or
regulation which is applicable or to which it is bound.

       

      (c)           Neither the execution and delivery of
this Subscription Agreement or any other agreement or document contemplated
hereby or thereby, nor the offer, issuance or sale of the Shares, requires any
consent, approval or authorization from, or filing, registration or
qualification with, any federal, state or local governmental or regulatory
authority in the United States (including, without limitation, registration
under the Securities Act of 1933, as amended (the “Securities
Act”)) on the part of the
Company, except for compliance by the Company with Regulation D (“Regulation
D”) promulgated under the
Securities Act and the requirements of any applicable state securities
(“Blue
Sky”) laws, all of which
filings required to be made prior to the Closing have been or will have been
made.

      

      
        
          
             

          

          
            2

            
              

            

          

          
             

          

        

      

       

      (d)           There are no actions, proceedings or
investigations pending or threatened against the Company (or any basis therefor
known to the Company).

       

      
        (e)     
      If Oilcorp International Limited (“Oilcorp”)
chooses to take advantage of the Debt Conversion under the terms of the Series A
Preferred Stock as set forth in the Certificate of Designation, the Company
covenants and agrees to grant to Oilcorp a second position security interest
(the “Second Position Security Interest”) in the Biodiesel production plant at
Gebeng Industrial Park, Kuantan, Pahang (the “Plant”), and the Company shall
take all steps necessary to secure and perfect Oilcorp’s security interest in
the Plant;  provided, however, that once the Debt Amount (as defined
in the Certificate of Designation) has been either (i) repaid in full or (ii)
converted into shares of the Company’s common stock as outlined in the
Certificate of Designation, the Second Position Security Interest shall be
terminated and released and shall be of no further force and
effect.

         

        (f)      
     All other terms of the Term Sheet agreed between
the parties, if not otherwise set forth in the Certificate of Designation or
this Subscription Agreement, shall become binding on the Parties upon (a) the
signature of this Subscription Agreement by Oilcorp and (b) the acceptance of
the subscription by the Company.

         

        5.     
       Representations, Warranties, and Agreements of the
Undersigned.  The
undersigned hereby represents and warrants to the Company as
follows:

         

      

      (a)           The undersigned either (i) is an
“accredited investor” within the meaning of Securities and Exchange Commission
(“SEC”) Rule 501 of Regulation D, as
presently in effect, or (ii) (A) certifies that the undersigned is not
a “U.S. person” within the meaning of SEC Rule 902 of Regulation S, as presently
in effect, and that the undersigned is not acquiring the Shares for the account
or benefit of any U.S. person, (B) agrees to resell the Shares only in
accordance with the provisions of Regulation S, pursuant to registration under
the Securities Act, or pursuant to an available exemption from registration and
agrees not to engage in hedging transactions with regard to such Shares unless
in compliance with the Securities Act, (C) agrees that any certificates, if
any, for the Shares issued to the undersigned shall contain a legend to the
effect that transfer is prohibited except in accordance with the provisions of
Regulation S, pursuant to registration under the Securities Act or pursuant to
an available exemption from registration and that hedging transactions involving
such Shares may not be conducted unless in compliance with the Securities Act,
and (D) agrees that the Company is hereby required to refuse to register
any transfer of any portion of the Shares issued to the undersigned not made in
accordance with the provisions of Regulation S, pursuant to registration under
the Securities Act, or pursuant to an available exemption from
registration.

       

      (b)           The Shares are being acquired for the
undersigned’s own account for investment, with no intention of distributing or
selling any portion thereof and not with a view to any distribution thereof
within the meaning of the Securities Act, and will not be transferred by the
undersigned in violation of the Securities Act or the then applicable rules or
regulations thereunder.  No one other than the undersigned has any
interest in or any right to acquire the Shares.

      

      
        
          
             

          

          
            3

            
              

            

          

          
             

          

        

      

       

      
        (c)           By reason of the undersigned’s business
or financial experience, or that of the undersigned’s professional advisor, the
undersigned is capable of evaluating the merits and risks of an investment in
the Company and of protecting its own interests in connection with the
transaction.

         

        (d)           The undersigned has received and
carefully read and understands the Confidential Term Sheet, this Subscription
Agreement, and the Confidential Investor Questionnaire.

         

        (e)           No representations or warranties have
been made to the undersigned by the Company or any agent of said persons or
entities, other than as set forth herein.

         

      

      (f)           The undersigned has been afforded an
opportunity to ask questions of and receive answers satisfactory to the
undersigned from the Company concerning the Company, and the Company has made
available all additional information which the undersigned has
requested.

       

      (g)           The undersigned has not relied upon any
offering material or literature other than the Confidential Term Sheet, the
Confidential Investor Questionnaire, and written information (if any) furnished
or made available by the Company.

       

      (h)           The address set forth on the signature
page hereto is the undersigned’s true and correct residence, if an individual,
or principal place of business, if an entity other than an
individual.

       

      (i)           The undersigned has investigated the
acquisition of the Shares to the extent the undersigned deemed necessary or
desirable, and the Company has provided the undersigned with any assistance it
has requested in connection therewith.

       

      (j)           The undersigned has full power and
authority to make the representations referred to in this Subscription
Agreement, to purchase the Shares, to deliver and pay the Subscription Amount,
and to comply with the terms of this Subscription Agreement.

       

      (k)           The undersigned acknowledges and is
aware of the following:

       

      (i)           An investment in the Company is
speculative and involves a high degree of risk of loss.

       

      (ii)           The Shares have not been registered
under the Securities Act or any state securities laws, and the transfer thereof
is restricted by the Securities Act, and applicable state securities
laws.  The Shares will not be, and the undersigned will have no rights
to require that the Shares be, registered under the Securities
Act.  There will be no public market for the Shares, the undersigned
may not be able to avail itself of the provisions of Rule 144 of the Securities
Act with respect to the Shares, and, the undersigned may have to hold the Shares
acquired indefinitely.

      
         

        
          
             

          

          
            4

            
              

            

          

          
             

          

        

      

       

      
        (iii)           No state or federal agency has made any
finding or determination as to the fairness of the terms of the offering and
sale of the Shares.

         

        (l)           The execution and delivery of this
Subscription Agreement, the Confidential Investor Questionnaire, and any other
document contemplated hereby or thereby, the consummation of the transactions
contemplated hereby and thereby, and the performance of the undersigned’s
obligations hereunder and thereunder, will not conflict with, or result in any
violation of or default under, any provision of any charter, by-laws, trust
agreement, partnership agreement or other governing instrument applicable to the
undersigned, or any agreement or other instrument to or by which the undersigned
or the properties of the undersigned is a party or may be
bound.

         

        (m)           If executing this Subscription Agreement
in a representative or fiduciary capacity on behalf of the person, partnership,
trust, estate, corporation, or other entity for whom the undersigned is acting
in this matter, that such person, partnership, trust, estate, corporation or
other entity has full right and power to execute, deliver, and perform this
Subscription Agreement, and to become a shareholder of the Company, and that
each of the representations contained in this Subscription Agreement are true
and accurate with respect to such person, partnership, trust, estate,
corporation or other entity.

      

       

      (n)           The acceptance of the undersigned’s
Subscription Agreement together with the appropriate remittance in the form of
the Subscription Amount will not breach any applicable money laundering rules
and regulations and the undersigned undertakes to provide verification of its
identity reasonably satisfactory (on a confidential basis), to the Company
and/or any entity acting on the Company’s behalf in respect of the acceptance of
subscriptions, promptly on request.

       

      (o)           The undersigned understands that due to
money laundering requirements operating within their respective jurisdictions,
the Company, and any entity acting on the Company’s behalf, may require further
identification of the undersigned before this Subscription Agreement can be
processed.  The undersigned agrees that the Company shall be held
harmless and indemnified by the undersigned against any loss arising from the
failure to process this Subscription Agreement if such information as has been
required from the undersigned has not been provided by the
undersigned.

       

        (p)           THE UNDERSIGNED UNDERSTANDS THAT THE
LEGAL AND ECONOMIC MATTERS RELATING TO ITS INVESTMENT IN THE COMPANY ARE COMPLEX
AND THAT THE UNDERSIGNED IS FREE TO SEEK INDEPENDENT PROFESSIONAL GUIDANCE OR
COUNSEL WITH RESPECT THERETO.  THE UNDERSIGNED HAS EITHER SOUGHT SUCH
ADVICE OR COUNSEL OR DETERMINED, AFTER CAREFULLY READING THE CONFIDENTIAL
TERM SHEET, THIS
SUBSCRIPTION AGREEMENT, AND THE OTHER DOCUMENTS AND AGREEMENTS CONTEMPLATED
HEREBY AND THEREBY, TO FOREGO SUCH ADVICE.  THE UNDERSIGNED
ACKNOWLEDGES THAT COUNSEL TO THE COMPANY IS NOT ACTING AS COUNSEL TO THE
UNDERSIGNED.

        
          

          
            
               

            

            
              5

              
                

              

            

            
               

            

          

        

      

       

      
        (q)           THE UNDERSIGNED IS NOT RELYING UPON ANY
WRITTEN OR ORAL REPRESENTATION OR ADVICE FROM THE COMPANY, THE OFFICERS OR
DIRECTORS OF THE COMPANY, OR ANY OF THEIR RESPECTIVE AGENTS OR REPRESENTATIVES,
WITH RESPECT TO (i) ANY LEGAL, TAX, ECONOMIC OR OTHER CONSIDERATIONS
INVOLVED IN THE UNDERSIGNED’S INVESTMENT IN THE COMPANY, OR (ii) THE
MEANING OR EFFECT OF ANY TERMS OR CONDITIONS OF THIS SUBSCRIPTION AGREEMENT OR
ANY OTHER DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY OR
THEREBY.

         

        (r)           The undersigned has completed the
attached Confidential Investor Questionnaire, which is incorporated herein and
made a part hereof, and that the information contained therein is complete and
accurate as of the date hereof and shall be accurate as of the date of the
Closing.

      

       

      
        (s)           In
the event Oilcorp chooses to take advantage of the Debt Conversion as outlined
in the Certificate of Designation, Oilcorp agrees to release and terminate that
the Second Position Security Interest in the Biodiesel production plant at
Gebeng Industrial Park, Kuantan, Pahang (the “Plant”) interest in the Plant
once the Debt Amount (as defined in the Certificate of Designation) has been
either (i) repaid in full or (ii) converted into shares of the Company’s common
stock as outlined in the Certificate of Designation above.

         

        (t)           All
other terms of the Term Sheet agreed between the parties, if not otherwise set
forth in the Certificate of Designation or this Subscription Agreement, shall
become binding on the Parties upon (a) the signature of this Subscription
Agreement by Oilcorp and (b) the acceptance of the subscription by the
Company.

         

      

      The foregoing representations and
warranties are true and accurate as of the date hereof and shall be true and
accurate as of the date of Closing and shall survive such
date.  If
in any respect such representation and warranties shall not be true and accurate
prior to Closing, the undersigned shall give immediate notice of such fact to
the Company at c/o Durham Jones and Pinegar, 111 East Broadway, Suite 900, Salt
Lake City, UT 84111 (Fax: (801) 415-3500), Attn: C. Parkinson Lloyd, Esq., by
facsimile or telegram with written confirmation of receipt, specifying which
representations and warranties are not true and accurate and the reasons
therefor.

       

      6.          
  Indemnification.  The undersigned
acknowledges that the undersigned understands the meaning and legal consequences
of the representations and warranties made by the undersigned herein and in the
attached Confidential Investor Questionnaire and that the Company is relying on
such representations and warranties in making its determination to accept or
reject this Subscription.  The undersigned hereby agrees to indemnify
and hold harmless the Company, its agents, and each director, officer or
employee of the Company from and against any and all loss, damage or liability
due to or arising out of a breach of any such representation or warranty of the
undersigned.

       

      
        
          
             

          

          
            6

            
              

            

          

          
             

          

        

      

       

      
        7.      
      Time; No
Revocation.  Time
shall be of the essence in this Subscription Agreement.  The
undersigned agrees that this Subscription Agreement and any agreement of the
undersigned made hereunder is irrevocable, and that this Agreement shall survive
the death or legal incapacity of the undersigned.

         

        8.    
        Notices.  All notices or other
communications given or made hereunder shall be in writing and shall be deemed
effectively given: (a) upon personal delivery to the party to be notified,
(b) when sent by confirmed telex or facsimile if sent during normal
business hours of the recipient, if not, then on the next business day,
(c) five (5) days after having been sent by registered or certified mail,
return receipt requested, postage prepaid; or (d) one (1) day after deposit
with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt, if addressed to the Company, 7251 West
Lake Mead Blvd, Suite 300, Las Vegas, Nevada, 89128, Attn: Richard Henderson, or to the undersigned at the address
set forth on the signature page hereto, or at such other place as a party may
designate by written notice to the other party in accordance with this
Section 8.

         

        9.      
      Survival of
Agreements, Representations and Warranties.  All agreements,
representations and warranties contained herein or made in writing by or on
behalf of a party hereto in connection with the transactions contemplated by
this Subscription Agreement shall survive the execution and delivery of this
Subscription Agreement, any investigation at any time made by any party, and the
sale and purchase of the undersigned’s Shares of the Company’s common stock and
payment therefor.

         

        10.           Modification
or Termination.  Neither this Subscription
Agreement nor any provisions hereof shall be waived, modified, discharged or
terminated except by an instrument in writing signed by the party against whom
any waiver, modification, discharge or termination is sought; provided, however, that if this Subscription is rejected
in full by the Company, then this Subscription Agreement shall be null and void
and of no further force and effect, and no party shall have any rights against
any other party hereunder, and the Company shall promptly return or cause to be
returned to the undersigned this Subscription
Agreement.

      

       

      11.           Successors
and Assigns.  This Subscription Agreement
shall be binding upon and inure to the benefit of the parties and their
successors and permitted assigns.  If the undersigned is more than one
person, their obligations shall be joint and several, and the agreements,
representations, warranties and acknowledgments herein contained shall be deemed
to be made by and be binding upon each such person and its successors and
assigns.  Notwithstanding the foregoing, this Subscription Agreement
is not transferable or assignable by the undersigned and any such attempted
transfer or assignment shall be null and void.

       

      12.           Complete
Agreement of the Parties.  This Subscription Agreement
and the other agreements or documents referred to herein or therein contain the
entire agreement of the parties, and there are no representations, covenants or
other agreements except as stated or referred to herein and in such other
agreements or documents.

       

      13.           Severability.  Any term or provision of
this Subscription Agreement that is invalid or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such invalidity
or unenforceability without rendering invalid or unenforceable the remaining
terms or provisions of this Subscription Agreement or affecting the validity or
enforceability of any of the terms or provisions of this Subscription Agreement
in any other jurisdiction.

      

      
        
          
             

          

          
            7

            
              

            

          

          
             

          

        

      

       

      14.           Counterparts.  This Subscription Agreement
may be executed in any number of counterparts, each of which shall be an
original but all of which taken together shall constitute one
agreement.

       

      15.           Governing
Law.  This
Agreement shall be governed by and construed under the laws of the State of
Nevada as applied to agreements among US residents entered into and to be
performed entirely within the United States.

       

      16.           General.  Signatures transmitted by
facsimile shall be effective and binding as if an original.  By
executing the signature page to this Subscription Agreement, the undersigned
agrees to be bound by the foregoing.

       

      [SIGNATURES
TO FOLLOW]

       

       

       

       

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

       

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      SUBSCRIPTION
AGREEMENT

      SIGNATURE
PAGE

       

      

       

      
        	
                Very
      truly yours,

                 

                 

                                
      Oilcorp International Limited                                                                  
           

                Print
      Subscriber’s Full Legal Name

                 

                                
      /s/                                                                                                                      
      

                Signature

                 

                                
      Ng Huat Tian,
      Director                                                                           
             

                Print
      Title of Signatory

                (if
      applicable)

                 

                                                                                                                                              
                  
      

                Social
      Security Number or Federal Employer Identification Number

                 

                             
         (603)
      7804 4843                                                                                                
      

                Telephone
      Number

                 

                      
                (603)
      7804 6212                                                                                                
      

                Facsimile
      Number

                                                                                                                         

                                                                                                                                                         
        

                Email
      Address

                 

                Residence
      Address:

                                                                                                                         
      

                                                                                                                         

                                                                                                                         

                 

                 

                Mailing
      Address (if different):

                                                                                                                                                 
                
      

                                                                                                                                                        
          

                                                                                                                                                            
      

                 

              	 
      	
                SUBSCRIPTION
      AMOUNT:

                 

                US$
      22,111,664                                                                                   

                 

                 

                NUMBER OF PREFERRED
      SHARES:
      2,211,166                         
      

                 

                Dated:
      December 2nd,
      2008

                 

                 

                WITNESSED:          /s/                                                                  
             

                                                                
      Signature

                 

                                 Koh
      Sui Ming   
                                                                         

                                               
      Print Witness’ Full Legal Name

                 

                 

                                                                                                       
                               
      

                                               
      Print
      Witness’ Full Legal Name

                 

                 

                
                   

                 

              
	 
      	 
      	 
      

      

      

      
        
          
             

          

          
            
            

            
              

            

          

          
             

          

        

      

      

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      ACCEPTANCE

       

      Renewable
Fuel Corp, a Nevada corporation (the “Company”), hereby
accepts the above Subscription Agreement and Investor’s Subscription to acquire
shares of the Company’s Series A Preferred Stock in the amounts set forth below,
upon the terms and conditions of the Subscription Agreement to which this
Acceptance is attached and of which it is a part.

       

      

      
        
          
            
              
                
                  	 
      	
                          ACCEPTED
      BY:

                        
	 
      	 
      	 
      
	 
      	
                          RENEWABLE
      FUEL CORP

                        
	 
      	
                          a
      Nevada corporation

                        
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                          By:

                        	
                          /s/
      William Van Vliet

                        
	 
      	 
      	
                          William
      Van Vliet

                        
	 	 02
      December
2008

                

              

            

          

        

      

       

      
 

      
        
          
            	 
      	
                    WITNESS:

                  	
                    /s/
      Cho Nam Sang

                  	 
      
	 
      	
                    Name: 
      Cho
      Nam Sang

                  	 
      

          

        

      

      

       

      

       

      Subscription
Accepted:

       

      Per share
price = $10.00 per Preferred Share

       

      Number of
Preferred Shares: 2,211,166                                                                      

       

      Subscription
Amount: $22,111,664  
                                                                         

       

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        APPENDIX
A

         

        FINAL
TERM SHEET

         

        

          
            
               

            

            
               

              
                

              

            

            
               

            

          

          THIS
DOCUMENT IS NOT TO BE CONSIDERED A SOLICITATION TO BUY OR SELL ANY SECURITY. THE
TERMS OUTLINED ARE SUMMARY IN NATURE, AND ANY AGREEMENT MUST BE REFLECTED IN ONE
OR MORE COMPREHENSIVE AND LEGALLY BINDING DOCUMENTS. THE PROPOSED TRANSACTION IS
ALSO SUBJECT TO DUE DILIGENCE PROCEDURES.

           

          Oilcorp
Berhad/

          Renewable
Fuel Corp

          CONFIDENTIAL
TERM SHEET

          

          Proposed
Private Placement Purchase of up to

          $22,111,664

          Regulation
D Offering of Restricted Series A Convertible Preferred Stock

          of

          Renewable
Fuel Corp, a Nevada corporation

          

           

          
            	
                    CLOSING
      DATE:

                  	
                    The
      date on which Oilcorp Berhad (the “Investor”) and Renewable Fuel Corp (the
      “Company”) enter into definitive securities purchase
      documents.

                     

                  
	
                    SECURITIES
      OFFERED:

                  	
                    Series
      A Convertible Preferred Stock of the Company pursuant to the terms set
      forth herein.

                     

                  
	
                    PURCHASE
      PRICE;

                  	 
      
	
                    PAYMENT

                  	
                    The
      aggregate purchase price shall be $22,111,664 (the “Investment
      Amount”).  Investor shall have the right to pay the Investment
      Amount in cash or through conversion of existing obligations of the
      Company at
      the same price per share as cash, at the sole discretion of the
      Company.

                     

                  
	
                    CONVERTIBLE

                  	 
      
	
                    INSTRUMENT:

                  	
                    $22,111664
      aggregate purchase price of the Series A Convertible Preferred Stock (the
      “Preferred Stock”) of the Company, at a per share price of $10.00 per
      share.  The Conversion Price for conversion either into Common
      Stock or debt (as described below) of the Preferred Stock is
      $1.00.

                     

                  
	
                    AUTOMATIC

                  	 
      
	
                    CONVERSION:

                  	
                    If,
      at any time during the twelve months following the purchase of the
      Preferred Stock (the “Initial Conversion Period”), the Company’s common
      stock begins trading on a stock exchange, market, or other trading
      facility, the issued and outstanding Preferred Stock will immediately
      convert, on a one (1) share of Preferred Stock for ten (10) shares of
      common stock basis, into shares of common
stock.

                  

          

          
            
               

            

            
               

              
                

              

            

            
               

            

          

           

          
            
              	 
      	
                      Following
      the Initial Conversion Period and until such time as the Preferred Stock
      has been converted into debt (as described immediately below) (the
      “Subsequent Conversion Period”), if the Company’s common stock begins
      trading on a stock exchange, market, or other trading facility, the issued
      and outstanding Preferred Stock will immediately convert, on a one (1)
      share of Preferred Stock for ten (10) shares of common stock basis, into
      shares of common stock.

                       

                    
	
                      OPTIONAL

                    	 
      
	
                      CONVERSION:

                    	
                      At
      any time following the Initial Conversion Period, provided that Company’s
      common stock is not trading on a stock exchange, market, or other trading
      facility resulting in the automatic conversion as described above, the
      Investor shall have the right, but not the obligation, to convert all, but
      not less than all, of the shares of Preferred Stock into a debt obligation
      (the “Debt Amount”) of the Company (the “Debt Conversion”).  If
      the Investor chooses to take advantage of the Debt Conversion, the Company
      will pay interest on the principal amount of the debt at a rate of 8%,
      payable quarterly in arrears, by issuing shares of the Company’s common
      stock at a conversion/purchase rate of $1.00 per share.

                       

                    
	 
      	
                      If
      the Investor chooses to take advantage of the Debt Conversion, the
      Investor shall have the right to receive from the Company fifty percent
      (50%) of the Company’s Net Income After Taxes (as
      defined in the Company’s annual audited financial statements) until
      the full amount of the Debt Amount has been repaid or until the Company’s
      common stock begins trading on a stock exchange, market, or other trading
      facility, at which time the remaining outstanding Debt Amount shall
      automatically convert into shares of the Company’s common stock at a
      conversion price of $1.00.

                       

                    
	
                      SECURITY
      INTEREST:

                    	
                      If
      the Investor chooses to take advantage of the Debt Conversion, the Company
      shall grant to the Investor a second position security interest (the
      “Second Position Security Interest”) in the Biodiesel production plant at
      Gebeng Industrial Park, Kuantan, Pahang (the “Plant”), and the Company
      shall take all steps necessary to secure and perfect Oilcorp’s security
      interest in the Plant;  provided,
      however, that once the Debt Amount (as defined above) has been
      either (i) repaid in full or (ii) converted into shares of the Company’s
      common stock as outlined above, the Second Position Security Interest
      shall be terminated and released and shall be of no further force and
      effect.

                    

            

          

          
            
               

            

            
               

              
                

              

            

            
               

            

          

           

          
            
              	
                      INTEREST:

                    	
                      Eight
      percent (8%) interest payable quarterly in arrears in shares of common
      stock of the Company, on the terms set forth below.  Interest
      shall be not be payable during the Initial Conversion Period, and shall
      begin to accrue during the Subsequent Conversion Period, commencing on the
      first anniversary of the closing of the purchase of the Preferred Stock,
      unless such Preferred Stock has been converted into shares of the
      Company’s common stock, as set forth below.  Assuming no
      conversion has taken place, beginning on the first anniversary of the
      purchase of the Preferred Stock, the Company will pay 8% on the
      outstanding unconverted and unpaid balance of the
    Investment.

                    
	 
      	 
      
	 
      	
                      As
      noted above, if the Investor chooses to take advantage of the Debt
      Conversion, the Company will pay interest on the principal Debt Amount at
      a rate of 8%, payable quarterly in arrears, by issuing shares of the
      Company’s common stock at a conversion/purchase rate of $1.00 per
      share.  If the Investor does not choose the Debt Conversion, the
      Company will pay interest on the Investment Amount at a rate of 8%,
      payable quarterly in arrears, by issuing shares of the Company’s common
      stock at a conversion/purchase rate of $1.00 per share.

                    
	 
      	 
      
	
                      CONVERSION

                    	 
      
	
                      PRICE:

                    	
                      The
      Preferred Stock will be convertible into shares of the Company’s common
      stock (upon an Automatic Coversion) or debt (upon an Optional Conversion)
      at a conversion price of $1.00.

                       

                    
	
                      CONDITIONS

                    	 
      
	
                      TO
      CLOSING:

                    	
                      Closing
      is subject to conditions precedent including the following:

                       

                    
	 
      	
                      (1)
      satisfactory completion of legal, accounting, IP, and other due
      diligence;

                       

                    
	 
      	
                      (2)
      approval by a majority of the shareholders of Oilcorp Berhad, if
      required.

                       

                    
	 
      	
                      (3)
      full implementation of the Company’s Stock Option program for key
      employees of the Company.

                       

                    

            

          

          
            
               

            

            
               

              
                

              

            

            
               

            

          

           

          
            
              	
                      CONFIDENTIALITY:

                    	
                      Except
      as required by law or regulation, the contents of this Term Sheet , or the
      fact that one has been issued, will not be publicly disclosed (in forms
      such as press releases, public filings, etc.) without the prior permission
      of Oilcorp Berhad.

                       

                    
	
                      OTHER
      TERMS:

                    	
                      As
      required by the Investors, the definitive transaction agreements may
      contain other terms not specified above that are agreed to by the
      Company.

                       

                    
	 
      	
                      The
      offering is also subject to the negotiation and execution of definitive
      legal documentation, the terms of which may vary from the terms of this
      Term Sheet and the satisfactory due diligence investigation of the
      Investors.  The Investor, alone or together with its counsel or
      advisors, should review such documentation for itself. The terms of such
      final documentation will represent all of the agreements between the
      Company and the Investors.

                    

            

          

          

          ACCEPTED
AND AGREED TO

          this
2nd
day of December, 2008.

          

          OILCORP
BERHAD

           

           

          By:  /s/

          Name: Ng
Huat Tian

          Title:  Director

          

          

          

          RENEWABLE
FUEL CORP

          

          

          

          By: /s/
William VanVliet

          Name:
William Van Vliet

          Title:  Chairmanrenewablefuelcorpf10ex10-11.htm

    
      

      

      Exhibit 10.11

    
       

      
        
          
            	
                     

                    CONFIDENTIAL
      INVESTOR QUESTIONNAIRE

                     

                    RENEWABLE
      FUEL CORP

                    a
      Nevada corporation

                     

                     

                  

          

        

      

       

      
        
 

      

    

    
       

      INSTRUCTIONS:

       

      
        	
                 
      

              	
                1.

              	
                In
      order to assure compliance with applicable federal law, it is necessary to
      obtain information regarding the financial position and experience of
      investors in the Company.  Please complete this Confidential
      Investor Questionnaire.

              

      

       

      
        	
                 
      

              	
                2.

              	
                Please
      return the completed Confidential Investor Questionnaire
    to:

              

      

       

      C.
Parkinson Lloyd, Esq.

       

      c/o
Durham Jones & Pinegar

       

      111 East
Broadway

       

      Suite
900

       

      Salt Lake
City, UT 84111

       

      Telephone:   (801)
415-3000

       

      Facsimile:   (801)
415-3500

       

      Email:   plloyd@djplaw.com

       

      
        	
                 
      

              	
                3.

              	
                Capitalized
      terms not otherwise defined herein shall have the meaning ascribed to them
      in the Subscription Agreement.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      PART
I.                      GENERAL
INFORMATION (ATTACH ADDITIONAL SHEETS IF NECESSARY)

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	 
      	
                                    To
      be completed by all Investors.

                                     

                                  
	
                                     

                                  	
                                    1.

                                  	
                                    Name:

                                  	
                                    Plant
      Offshore Group Limited

                                  
	 
      	 
      	 
      	 
      
	 	 	 
	
                                     

                                  	
                                    2.

                                  	
                                    Address:

                                  
	 
      	 
      	 
      	
                                    Business:

                                  	
                                    No.
      34, Jalan SS6/8, Kelana Jaya, 47301 Petaling Jaya, Selangor,
      Malaysia

                                  
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                                    Registered:

                                  	
                                    24-38
      Hill Street, St. Helier, Jersey, JE4 8PN, Channel
  Islands

                                  
	 
      	 
      	 
      	 
      	 
      
	 
      	
                                    Note:  The
      Company may deliver time-sensitive documents by Federal
      Express.  Please provide the Partnership with a street address
      since Federal Express will not deliver to post office
    boxes.

                                  
	 	 	 
	
                                     

                                  	
                                    3.

                                  	
                                    Telephone:

                                  
	 
      	 
      	 
      	
                                    Business:

                                  	
                                    (603)
      7805 5001

                                  
	 
      	 
      	 
      	
                                    Residence:

                                  	
                                    (    )
      Not Applicable

                                  
	 	 	 	 
	
                                     

                                  	
                                    4.

                                  	
                                    Date
      of Birth:

                                  	
                                    Not
      Applicable

                                  
	
                                     

                                  	
                                     

                                  	
                                    (to
      be completed by individual Investors)

                                     

                                  
	
                                     

                                  	
                                    5.

                                  	
                                    Marital
      status:

                                  	
                                    Not
      Applicable

                                  
	
                                     

                                  	
                                     

                                  	
                                    (to
      be completed by individual
Investors)

                                  

                          

                        

                      

                    

                     

                    
                      
                        
                          	
                                   

                                	
                                  6.

                                	
                                  Social
      Security Number or Federal Employer Identification Number:

                                	
                                  Not
      Applicable

                                

                        

                         

                        
                          	
                                   

                                	
                                  7.

                                	
                                  The
      undersigned is (check the applicable subparagraph):

                                
	 
      	 
      	o  	
                                  A
      United States Person; or

                                
	 
      	 
      	x  	
                                  A
      non-United States
Person.

                                

                        

                      

                    

                  

                

              

            

          

        

      

       

      For
purposes of this Confidential Investor Questionnaire, “United States Person” or
“U.S. Person” means (A) any natural person resident in the United States;
(B) any partnership or corporation organized or incorporated under United
States laws; (C) any estate of which any executor or administrator is a
U.S. Person; (D) any trust of which any trustee is a U.S. Person;
(E) any agency or branch of a foreign entity located in the United States;
(F) any non-discretionary account (other than an estate or trust) held by a
dealer or other fiduciary for the benefit of a U.S. Person; (G) any
discretionary account (other than an estate or trust) held by a dealer or other
fiduciary incorporated or resident in the United States; and (H) any
partnership or corporation organized or incorporated under the laws of any
foreign jurisdiction and formed by a U.S. Person principally for the purpose of
investing in unregistered securities (unless owned by accredited investors who
are not natural persons, estates or trusts).  A “non-United States
Person” means any person other than a United States
Person.
 

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      PART
II.                      INVESTMENT
REPRESENTATIONS

       

      
        
          
            
              
                
                  	 
      	
                          To
      be completed by all Investors.

                           

                        
	
                          A.

                        	
                          Legal Structure of
      Investor (INDIVIDUALS
      SHOULD SKIP)

                           

                        
	
                           

                           

                        	
                          1.

                           

                        	
                          The
      Investor has been duly formed and is validly existing and has full power
      and authority to invest in the Partnership.  The person signing
      on behalf of the undersigned has the authority to execute and deliver the
      Subscription Agreement on behalf of the Investor and to take other actions
      with respect thereto.

                           

                        
	
                           

                        	
                          2.

                        	
                          Indicate
      the form of entity of the undersigned:

                           

                        
	 
      	 
      	o  	
                          Limited
      Partnership

                           

                        
	 
      	 
      	o  	
                          General
      Partnership

                           

                        
	 
      	 
      	x  	
                          Corporation

                           

                        
	 
      	 
      	o  	
                          Limited
      Liability Company

                           

                        
	 
      	 
      	o  	
                          Revocable
      Trust (If the trust does not have $5 million in assets or if the trust was
      specifically formed for the purpose of this investment, identify each
      grantor and indicate under what circumstances the trust is revocable by
      the grantor.  Also indicate the category in Section B below that
      describes how each such grantor is qualified as an “Accredited
      Investor”):

                        
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                          (Continue
      on a separate piece of paper, if necessary.)

                           

                        
	 
      	 
      	o  	
                          Other
      type of Trust (indicate type of trust and, for trusts other than pension
      trusts, name the grantors and beneficiaries):

                        
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
                          (Continue
      on a separate piece of paper, if necessary.)

                           

                        
	 
      	 
      	o  	
                          Other
      form of organization (indicate form of
  organization):

                        

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                   

                  
                    	
                             

                          	
                            3.

                          	
                            The
      approximate date the undersigned entity was formed:

                          	
                            14
      March 2007

                          
	 	 	 	 
	
                             

                          	
                            4.

                          	
                            State
      of principal place of business:

                          	
                            Malaysia

                          
	 	 	 	 
	
                             

                          	
                            5.

                          	
                            Country
      of organization:

                          	
                            Jersey,
      Channel
Islands

                          

                  

                

              

            

          

        

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      
      

      
        	
                B.

              	
                Verification of Status
      as an “Accredited Investor”

              

      

       

      In order
for the Partnership to offer and sell the Interests in conformity with state and
federal securities laws, the following information must be obtained regarding
your investor status.

       

      If an
INDIVIDUAL, please
answer the following items:

       

      
        
          
            
              
                
                  	 	
                          o

                          True

                           

                        	
                          o

                          False

                        	
                          (1)  
      The Investor is a natural person whose net worth, either individually or
      jointly with such Investor’s spouse, exceeds
$1,000,000;

                        
	 	
                          o

                          True

                           

                        	
                          o

                          False

                        	
                          (2)  
      The Investor is a natural person who had an income in excess of $200,000,
      or joint income with such Investor’s spouse in excess of $300,000, in each
      of the two most recent years and reasonably expects to have income
      reaching the same level in the current year;

                        
	 	
                          o

                          True

                           

                        	
                          o

                          False

                        	
                          (3)  
      The Investor is a director, executive officer, or manager of the
      Company.

                        

                

              

            

          

        

      

      The term
“net worth” means the excess of total assets over total
liabilities.  In calculating “net worth,” the undersigned may include
the estimated fair market value of the Investor’s principal residence as an
asset.

       

      In
determining individual “income,” the Investor should (i) add to the
Investor’s individual adjusted gross income (exclusive of any spousal income)
any amounts attributable to tax exempt income received, losses claimed as a
member in any limited partnership, deductions claimed for depletion,
contributions to an IRA or Keogh retirement plan to the extent vested, alimony
payments, and any amount by which income from long-term capital gains has been
reduced in arriving at adjusted gross income and (ii) subtract from the
Investor’s individual adjusted gross income any unrealized capital
gain.

       

      If NOT AN
INDIVIDUAL (e.g. partnership, corporation, or limited liability
company),
please check each category that is applicable:

       

      
        	
                 
      o

              	
                (1)

              	 	
                The
      Investor is a corporation, a partnership, a limited liability company, a
      Massachusetts or similar business trust, or an organization described in
      Section 501(c)(3) of the Internal Revenue Code, not formed for the
      specific purpose of acquiring the Interest, with total assets in excess of
      $5,000,000;

              

      

       

      
        	
                o

              	
                (2)

              	 	
                The
      Investor is a bank as defined in Section 3(a)(2) of the Securities Act, or
      a savings and loan association or other institution as defined in
      Section 3(a)(5)(A) of the Securities Act, whether acting in its
      individual or fiduciary capacity;

              

      

       

      
        	
                o

              	
                (3)

              	 	
                The
      Investor is a broker or dealer registered pursuant to Section 15 of the
      Securities Exchange Act of 1934;

              

      

       

      
        	
                o

              	
                (4)

              	 	
                The
      Investor is an insurance company as defined in Section 2(13) of the
      Securities Act;

              

      

       

      
        	
                o

              	
                (5)

              	 	
                The
      Investor is an investment company registered under the Investment Company
      Act of 1940 or a business development company as defined in Section
      2(a)(48) of that Act;

              

      

       

      
        	
                o

              	
                (6)

              	 	
                The
      Investor is a Small Business Investment Company licensed by the U.S. Small
      Business Administration under Section 301(c) or (d) of the Small Business
      Investment Act of 1958;

              

      

       

      
        	
                o

              	
                (7)

              	 	
                The
      Investor is a plan established and maintained by a state, its political
      subdivisions, or any agency or instrumentality of a state or its political
      subdivisions, for the benefit of its employees, and such plan has total
      assets in excess of $5,000,000;

              

      

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      
        	
                o

              	
                (8)

              	 	
                The
      Investor is an employee benefit plan within the meaning of the Employee
      Retirement Income Security Act of 1974, and (i) the investment decision is
      made by a plan fiduciary, as defined in Section 3(21) of such Act, which
      is either a bank, savings and loan association, insurance company, or
      registered investment adviser, or (ii) the employee benefit plan has total
      assets in excess of $5,000,000 or, (iii) if a self-directed plan, the
      investment decisions are made solely by persons that are accredited
      investors;

              

      

       

      
        	
                o

              	
                (9)

              	 	
                The
      Investor is a private business development company as defined in Section
      202(a)(22) of the Investment Advisers Act of
  1940;

              

      

       

      
        	
                o

              	
                (10)

              	
                 

              	
                The
      Investor is a manager of the
Partnership;

              

      

       

      
        	
                o

              	
                (11)

              	 	
                The
      Investor is a trust, with total assets in excess of $5,000,000, not formed
      for the specific purpose of acquiring the Interest, whose purchase is
      directed by a sophisticated person who has such knowledge and experience
      in financial and business matters that such person is capable of
      evaluating the merits and risks of investing in the
      Partnership;

              

      

       

      
        
          	
                  o

                	
                  (12)

                	 	
                  The
      Investor is an entity in which all of the equity owners qualify under any
      of the above categories (including the categories for individuals listed
      in the immediately preceding section).  If the undersigned
      belongs to this investor category only, list the equity owners of the
      undersigned, and the investor category which each such equity owner
      satisfies:

                
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	
                  (Continue
      on a separate piece of paper, if
necessary.)

                

        

      

       

       

      
        	
                C.

              	
                Verification of Status
      as an Employee Benefit Plan (SKIP
      IF AN INDIVIDUAL):

              

      

       

      The
undersigned is:

       

      
        	 	
                o

                True

                 

              	
                o

                False

              	
                (1)  
      an employee benefit plan (as defined in section 3(3) of ERISA), whether or
      not it is subject to the provisions of Title I of ERISA;
  or

              
	 	
                o

                True

                 

              	
                o

                False

              	
                (2)  
      a plan described in section 4975(e)(1) of the Internal Revenue Code;
      or

              
	 	
                o

                True

              	
                o

                False

              	
                (3)  
      an entity which is deemed to be a “benefit plan investor” under the Final
      Regulation of the Department of Labor, published in the Federal Register
      on November 13, 1986 (the “Final Regulation”) because its underlying
      assets include “plan assets” by reason of a plan’s investment in the
      entity (including, by way of example only, a partnership not qualifying as
      an operating company within the meaning of the Final Regulation, which is
      25% or more owned by entities described in (1) or (2) above).

                 

              

      

      If the
Investor is an Employee Benefit Plan (the “Plan”) within the meaning of
Title I of the Employee Retirement Income Security Act of
1974:

       

      
        	 	
                o

                True

              	
                o

                False

              	
                The
      investment in the Partnership is a permitted investment under the
      documents and instruments governing the
Plan.

              

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      THE
UNDERSIGNED AGREES TO NOTIFY THE COMPANY IMMEDIATELY IF ANY  RESPONSE
ABOVE BECOMES INACCURATE AT ANY TIME, INCLUDING ANY TIME FOLLOWING THE
CLOSING.  If
the undersigned is uncertain as to the correct response above, the undersigned
should consult with its legal counsel in completing its response above, or
should contact C. Parkinson Lloyd, Esq. at (801) 415-3000, counsel to the
Company.

       

      

       

      
        	
                Executed
      on:  24 September
      2008                                                                        
                                       

                                                                                      
       Date

                 

                Plant Offshore Group
      Limited                                                                                          
                    
            

                                                                        
      Print Name of Investor

                 

                By
      /s/                                                                                                                                     
                          

                                                                         
                 
      Signature

                 

                 Hang Chin Juan,
      Managing Director & Chief Executive Officer, Plant Offshore Group
      Limited

                                                            
        Print Name of Signatory and Title

                 

                WITNESS::   /s/                                                                                                                                        
      

                                                                                      
      Signature

                 

                Pey Chee Hian,
      Executive Director, Plant Offshore Group
      Limited                                                  
      

                                                                          
      Print Name of Witness

              

      

       

      * * * *
*

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      ANNEX A

       

      The
relevant section of Rule 13d-3 of the Securities and Exchange Act of 1934 as
amended, as referred to in Section C of Part II of the Confidential Investor
Questionnaire, provides:

       

      (a)           ...
“[a] beneficial owner of a security includes any person who, directly or
indirectly, through any contract, arrangement, understanding, relationship, or
otherwise has or shares:

       

      (1)           Voting
power which includes the power to vote, or to direct the voting of, such
security; and/or

       

      (2)           Investment
power which includes the power to dispose, or to direct the disposition of, such
security.

       

      (b)           Any
person who, directly indirectly, creates or uses a trust, proxy, power of
attorney, pooling arrangement or any other contract, arrangement, or device with
the purpose or effect of divesting such person of beneficial ownership of a
security or preventing the vesting of such beneficial ownership as part of a
plan or scheme to evade the reporting requirements of Section 13(d) or 13(g) of
the Act shall be deemed for purposes of such sections to be the beneficial owner
of such security.

       

      (c)           All
securities of the same class beneficially owned by a person, regardless of the
form which such beneficial ownership takes, shall be aggregated in calculating
the number of shares beneficially owned by such person.

       

      (d)           Notwithstanding
the provisions of paragraphs (a) and (b) of this rule:

       

      (1)           (i)    A
person shall be deemed to be the beneficial owner of a security, subject to the
provisions of paragraph (b) of this rule, if that person has the right to
acquire beneficial ownership of such security within 60 days, including but not
limited to any right to acquire:

       

      (A)           through
the exercise of any option, warrant or right;

       

      (B)           through
the conversion of a security;

       

      (C)           pursuant
to the power to revoke a trust, discretionary account, or similar arrangement;
or

       

      (D)           pursuant
to the automatic termination of a trust, discretionary account or similar
arrangement; provided, however; any person who acquires a security or power
specified in paragraph (A), (B) or (C) above, with the purpose or effect of
changing or influencing the control of the issuer, or in connection with or as a
participant in any transaction having such purpose or effect, immediately upon
such acquisition shall be deemed to be the beneficial owner of the securities
which may be acquired through the exercise or conversion of such security or
power.  Any securities not outstanding which are subject to such
options, warrants, rights or conversion privileges shall be deemed to be
outstanding for the purpose of computing the percentage of outstanding
securities of the class owned by such person but shall not be deemed to be
outstanding for the purpose of computing the percentage of the class by any
other person.

       

      (2)           A
member of a national securities exchange shall not be deemed to be a beneficial
owner of securities held directly or indirectly by it on behalf of another
person solely because such member is the record holder of such securities and,
pursuant to the rules of such exchange, may direct the vote of such securities,
without instruction, on other than contested matters or matters that may affect
substantially the rights or privileges of the holders of the securities to be
voted, but is otherwise precluded by the rules of such exchange from voting
without instruction.

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

       

      (3)           A
person who in the ordinary course of business is a pledgee of securities under a
written pledge agreement shall not be deemed to be the beneficial owner of such
pledged securities until the pledgee has taken all formal steps necessary which
are required to declare a disposition of such pledged securities will be
exercise, provided
that: (i) the pledge agreement is ‘bona fide’ and was not
entered into with the purpose nor with the effect of changing or influencing the
control of the issuer, nor in connection with any transaction having such
purpose or effect, including any transaction subject to Rule 13d-3(b); (ii) the
pledgee is a person specified in Rule 13d-1(b)(1)(ii), including persons meeting
the conditions set forth in paragraph (G) thereof; and (iii) the pledgee
agreement, prior to default, does not grant to the pledgee:  (A) the
power to vote or to direct the vote of the pledged securities; or (B) the power
to dispose or direct the disposition of the pledged securities, other than the
grant of such power(s) pursuant to a pledge agreement under which credit is
extended subject to Regulation T and in which the pledgee is a broker or dealer
registered under Section 15 of the Act.

       

      (4)           A
person engaged in business as an underwriter of securities who acquires
securities through his participation in good faith in a firm commitment
underwriting registered under the Securities Act of 1933 shall not be deemed to
be the beneficial owner of such securities until the expiration of forty days
after the date of such acquisition.

       

      * * * *
*

      

       

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

       

      
        
             

            
              

              

            

          
  SUBSCRIPTION
AGREEMENT 

      

       

      
        

        

      

       

      

      PRIVATE
PLACEMENT OF SHARES OF SERIES A PREFERRED STOCK

      OF

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      NEITHER
THE SHARES OF PREFERRED STOCK NOR THE SHARES OF COMMON STOCK UNDERLYING THE
PREFERRED STOCK (COLLECTIVELY, THE “SECURITIES”) REFERRED
TO IN THIS SUBSCRIPTION AGREEMENT HAVE BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR
THE SECURITIES LAWS OF ANY OTHER JURISDICTION.  SUCH SECURITIES ARE
BEING OFFERED AND SOLD IN RELIANCE UPON EXEMPTIONS PROVIDED BY THE SECURITIES
ACT.

       

      A
PURCHASER OF SECURITIES SHOULD BE PREPARED TO BEAR THE ECONOMIC RISK OF THE
INVESTMENT FOR AN INDEFINITE PERIOD OF TIME BECAUSE THE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OR THE LAWS OF ANY OTHER JURISDICTION, AND,
THEREFORE, CANNOT BE SOLD UNLESS THEY ARE SUBSEQUENTLY REGISTERED OR AN
EXEMPTION FROM REGISTRATION IS AVAILABLE.  THE ISSUER IS NOT OBLIGATED
TO REGISTER THE SECURITIES UNDER THE SECURITIES ACT OR THE LAWS OF ANY OTHER
JURISDICTION.  INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO
BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF
TIME.

       

      THESE
SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE
COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY
OR ADEQUACY OF THE OFFERING MATERIALS.  ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.

       

       

      CAREFULLY
REVIEW AND FOLLOW THE INSTRUCTIONS

      IMMEDIATELY
BEHIND THIS COVER PAGE.

       

      INCOMPLETE
SUBSCRIPTION AGREEMENTS

      AND
CONFIDENTIAL INVESTOR QUESTIONNAIRES

      WILL
BE RETURNED TO SUBSCRIBERS FOR COMPLETION. 

       

      

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      INSTRUCTIONS
TO SUBSCRIBERS

       

      In order
to subscribe for shares of Series A Preferred Stock of Renewable Fuel Corp, a
Nevada Corporation (the “Company”), please do the following:

       

      1.        
    Please Read and Complete the
Subscription Agreement in Its Entirety.  It contains certain
statements and certain representations required to be made by each
investor.  Complete, date and sign and have witnessed the two signature pages
of the Subscription Agreement.

       

      2.     
       Please Read and Complete the
Confidential Investor Questionnaire.  The information is
intended to establish among other things, whether you are an “accredited
investor” within the meaning of the Securities Act of 1933, as
amended.  Complete, date and sign and have witnessed the signature
page of the Confidential Investor Questionnaire.

       

      3.      
      Please Read and Complete the
Appropriate Internal Revenue Service Form.  The Form W-9
(Request for Tax Identification Number and Certification) must be completed if
you are a U.S. person, corporation, partnership, limited liability company,
trust, or other entity.  If you are not a U.S. person, corporation,
partnership, limited liability, trust or other entity, then please complete and
return either Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for
United States Tax Withholding), Form W-8ECI (Certificate of Foreign Person’s
Claim for Exemption From Withholding on Income Effectively Connected With the
Conduct of a Trade or Business in the United States), Form W-8EXP (Certificate
of Foreign Government or Other Foreign Organization for United States Tax
Withholding) or Form W-8IMY (Certificate of Foreign Intermediary, Foreign
Flow-Through Entity, or Certain U.S. Branches for United States Tax
Withholding), whichever is appropriate.  The information contained on
these forms will be used by the Company in filing its U.S. federal, state and
local income tax and information returns.

       

      4.       
     Please Read the Confidential
Private Placement Memorandum.  The Confidential Private
Placement Memorandum provides important information about the Company, risks
related to the business of the Company and of investing in the Company, and
other information you should consider before subscribing to purchase shares of
the Company’s securities.

       

      5.        
    Return
Documents.  Please return (a) the completed Subscription
Agreement with two signed and witnessed signature pages, (b) the completed,
signed and witnessed Confidential Investor Questionnaire, and (c) the
completed and signed Form W-9, W-8BEN, W-8ECI, W-8EXP or W-8IMY, which ever is
appropriate, to:

       

      C.
Parkinson Lloyd, Esq.

      c/o
Durham Jones & Pinegar

      111 East
Broadway

      Suite
900

      Salt Lake
City, UT 84111

      Telephone:   (801)
415-3000

      Facsimile:   (801)
415-3500

      Email:   plloyd@djplaw.com

      
        
           

        

        
          i

          
            

          

        

        
           

        

      

       

      FOLLOWING
REVIEW OF THE SUBSCRIPTION AGREEMENT, QUESTIONNAIRES AND ATTACHMENTS, WHERE
APPLICABLE, BY DURHAM JONES & PINEGAR, THE SUBSCRIPTION AGREEMENT WILL BE
FORWARDED TO THE PRESIDENT OF THE COMPANY FOR ACCEPTANCE IN THE SOLE DISCRETION
OF THE COMPANY.

       

      INCOMPLETE SUBSCRIPTION
AGREEMENTS WILL BE RETURNED TO SUBSCRIBERS FOR COMPLETION.

       

      6.        
    Wire Transfer
Instructions.  Please arrange for a wire of immediately
available funds in the amount of your initial capital contribution on the date
of the Closing (as defined in Section 0 of the Subscription Agreement) into the Company’s bank account
in accordance with the following wire transfer instructions:

       

      
        
          
            
              
                
                  
                    
                      
                        
                          	 
      	
                                  Account
      Name:

                                	
                                  Renewable
      Fuel Corp

                                	 
      
	 	 	 	 
	 
      	
                                  Reference:

                                	
                                  [Insert
      Name of Subscriber]

                                	 
      
	 	 	 	 
	 
      	
                                  Bank:

                                	
                                  CitiBank

                                	 
      
	 	 	 	 
	 
      	
                                  Account
      Number:

                                	 
      	 
      
	 	 	 	 
	 
      	
                                  ABA/Transit
      No.:

                                	 
      	 
      

                        

                         

                      

                    

                  

                

              

            

          

        

      

      7.       
     Questions.  If
you have questions about completing the Subscription Agreement, please contact
C. Parkinson Lloyd, Esq. of Durham Jones & Pinegar, legal counsel for the
Company, at (801) 415-3000.

       

      ALL
INFORMATION SHOULD BE TYPED OR PRINTED IN INK.

      ANY
CORRECTIONS MUST BE INITIALED.

       

      PLEASE
NOTIFY THE COMPANY IMMEDIATELY IF THE INFORMATION YOU SUPPLY BECOMES INACCURATE
AT ANY TIME, INCLUDING ANY TIME FOLLOWING THE CLOSING.

       

      
        
           

        

        
          ii

          
            

          

        

        
           

        

      

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      SUBSCRIPTION
AGREEMENT

       

      
        
          
            
              
                	
                        TO: 

                      	
                        Renewable
      Fuel Corp

                      
	 	      
                        c/o
      Durham Jones & Pinegar, P.C.

                      
	 	111
      East Broadway, Suite 900
	 	Salt
      Lake City, Utah 84111
	 	Attn:    C.
      Parkinson Lloyd,
Esq.

              

            

          

        

      

       

      Ladies
and Gentlemen:

       

      The
undersigned subscribing investor (the “Investor” or the
“undersigned”)
understands that (a) Renewable Fuel Corp, a newly formed Nevada corporation
(the “Company”), has been
formed pursuant to Nevada corporate law, and (b) the Company is offering
shares of its Series A Convertible Preferred Stock (the “Shares”) to certain
qualified investors, at a per share price of $10.00 per share.  The
undersigned has been provided with the Confidential Private Placement Memorandum
(the “PPM”), as
well as the Certificate of Designation of Rights and Preferences of the Series A
Preferred Stock (the “Certificate of
Designation”).  Capitalized terms used but not defined in this
Subscription Agreement (the “Subscription
Agreement”) shall have the respective meanings given them in the PPM or
the Certificate of Designation, as applicable.

       

      1.          
  Subscription.  Subject to the terms and
conditions hereof, the undersigned hereby tenders this subscription (the
“Subscription”) in the amount set forth on the
undersigned’s signature page hereto or such lesser amount as the President of
the Company shall choose to accept pursuant to Section 0 below.  By signing below, the
undersigned acknowledges and agrees to the terms, conditions, rights, and
preferences of the Series A Preferred Stock as set forth in the Certificate of
Designation.

       

      2.        
    Acceptance
of Subscription.  It is understood and agreed
that this Subscription Agreement is made subject to the following terms and
conditions:

       

      (a)           The President of the Company shall have
the right to accept or reject this Subscription, in whole or in part, in its
sole and absolute discretion.  This Subscription shall be deemed to be
accepted and in the amount stated by the President of the Company when signed by
the President of the Company.  If the President of the Company chooses
to accept only part of the Subscription amount, then the President of the
Company shall be authorized to revise the amount indicated as the Subscription
on the undersigned’s signature page to this Subscription Agreement and shall
notify the undersigned in writing of such revision promptly after the
Closing.

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

       

      3.  
          Closing;
Conditions to Closing.

       

      (a)           Time and
Place of Closing.  The closing of the sale and
purchase of the undersigned’s Shares (the “Closing”) shall take place at the offices of
the Company on such date and at such time as shall be selected by the President
of the Company (the “Closing
Date”).

       

      (b)           Undersigned’s
Conditions to Closing.  The undersigned’s
obligations hereunder are subject to the fulfillment, prior to or at the
Closing, of each of the following conditions:

       

      (i)           The Company’s acceptance of the
undersigned’s Subscription.

       

      (c)           Company’s
Conditions to Closing.  The Company’s obligations
hereunder are subject to acceptance by the President of the Company of the
undersigned’s Subscription, and to the fulfillment, prior to or at the Closing,
of each of the following conditions:

       

      (i)           The representations and warranties of
the undersigned contained in this Subscription Agreement shall be true and
correct at the Closing.

       

      (ii)           All proceedings in connection with the
transactions contemplated hereby and all documents and instruments incident to
such transactions shall be satisfactory in substance and form to the Company and
Durham Jones & Pinegar, its counsel, and the Company and its counsel shall
have received all such counterpart originals or certified or other copies of
such documents as the Company may reasonably request.

       

      (d)           Subscription
Amount Payable at Closing.  The undersigned’s
Subscription Amount shall be due and payable at the Closing.

       

      4.      
      Representations
and Warranties by the Company.  The Company represents,
warrants and agrees as follows:

       

      (a)           The Company is duly and validly
organized and validly existing as a corporation under the laws of the State of
Nevada, and has all requisite power and authority under its Articles of
Incorporation, as amended, and such laws to conduct its business as described in
the Articles of Incorporation.

       

      (b)           The Company is not in violation of any
term of its Articles of Incorporation or Bylaws or this Subscription Agreement
nor is it in material violation of any term of any other mortgage, indenture,
contract, agreement, instrument, judgment, decree, order, statute, rule or
regulation which is applicable or to which it is bound.

       

      (c)           Neither the execution and delivery of
this Subscription Agreement or any other agreement or document contemplated
hereby or thereby, nor the offer, issuance or sale of the Shares, requires any
consent, approval or authorization from, or filing, registration or
qualification with, any federal, state or local governmental or regulatory
authority in the United States (including, without limitation, registration
under the Securities Act of 1933, as amended (the “Securities
Act”)) on the part of the
Company, except for compliance by the Company with Regulation D (“Regulation
D”) promulgated under the
Securities Act and the requirements of any applicable state securities
(“Blue
Sky”) laws, all of which
filings required to be made prior to the Closing have been or will have been
made.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

       

      (d)           There are no actions, proceedings or
investigations pending or threatened against the Company (or any basis therefor
known to the Company).

       

      5.         
   Representations
and Warranties of the Undersigned.  The undersigned hereby
represents and warrants to the Company as follows:

       

      (a)           The undersigned either (i) is an
“accredited investor” within the meaning of Securities and Exchange Commission
(“SEC”) Rule 501 of Regulation D, as
presently in effect, or (ii) (A) certifies that the undersigned is not
a “U.S. person” within the meaning of SEC Rule 902 of Regulation S, as presently
in effect, and that the undersigned is not acquiring the Shares for the account
or benefit of any U.S. person, (B) agrees to resell the Shares only in
accordance with the provisions of Regulation S, pursuant to registration under
the Securities Act, or pursuant to an available exemption from registration and
agrees not to engage in hedging transactions with regard to such Shares unless
in compliance with the Securities Act, (C) agrees that any certificates, if
any, for the Shares issued to the undersigned shall contain a legend to the
effect that transfer is prohibited except in accordance with the provisions of
Regulation S, pursuant to registration under the Securities Act or pursuant to
an available exemption from registration and that hedging transactions involving
such Shares may not be conducted unless in compliance with the Securities Act,
and (D) agrees that the Company is hereby required to refuse to register
any transfer of any portion of the Shares issued to the undersigned not made in
accordance with the provisions of Regulation S, pursuant to registration under
the Securities Act, or pursuant to an available exemption from
registration.

       

      (b)           The Shares are being acquired for the
undersigned’s own account for investment, with no intention of distributing or
selling any portion thereof and not with a view to any distribution thereof
within the meaning of the Securities Act, and will not be transferred by the
undersigned in violation of the Securities Act or the then applicable rules or
regulations thereunder.  No one other than the undersigned has any
interest in or any right to acquire the Shares.

       

      (c)           By reason of the undersigned’s business
or financial experience, or that of the undersigned’s professional advisor, the
undersigned is capable of evaluating the merits and risks of an investment in
the Company and of protecting its own interests in connection with the
transaction.

       

      (d)           The undersigned has received and
carefully read and understands the Confidential Private Placement Memorandum,
this Subscription Agreement, and the Confidential Investor
Questionnaire.

       

      (e)           No representations or warranties have
been made to the undersigned by the Company or any agent of said persons or
entities, other than as set forth herein.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

       

      (f)           The undersigned has been afforded an
opportunity to ask questions of and receive answers satisfactory to the
undersigned from the Company concerning the Company, and the Company has made
available all additional information which the undersigned has
requested.

       

      (g)           The undersigned has not relied upon any
offering material or literature other than the Confidential Private Placement
Memorandum, the Confidential Investor Questionnaire, and written information (if
any) furnished or made available by the Company.

       

      (h)           The address set forth on the signature
page hereto is the undersigned’s true and correct residence, if an individual,
or principal place of business, if an entity other than an
individual.

       

      (i)           The undersigned has investigated the
acquisition of the Shares to the extent the undersigned deemed necessary or
desirable, and the Company has provided the undersigned with any assistance it
has requested in connection therewith.

       

      (j)           The undersigned has full power and
authority to make the representations referred to in this Subscription
Agreement, to purchase the Shares, to deliver and pay the Subscription Amount,
and to comply with the terms of this Subscription Agreement.

       

      (k)           The undersigned acknowledges and is
aware of the following:

       

      (i)           An investment in the Company is
speculative and involves a high degree of risk of loss.

       

      (ii)           The Shares have not been registered
under the Securities Act or any state securities laws, and the transfer thereof
is restricted by the Securities Act, and applicable state securities
laws.  The Shares will not be, and the undersigned will have no rights
to require that the Shares be, registered under the Securities
Act.  There will be no public market for the Shares, the undersigned
may not be able to avail itself of the provisions of Rule 144 of the Securities
Act with respect to the Shares, and, the undersigned may have to hold the Shares
acquired indefinitely.

       

      (iii)           No state or federal agency has made any
finding or determination as to the fairness of the terms of the offering and
sale of the Shares.

       

      (l)           The execution and delivery of this
Subscription Agreement, the Confidential Investor Questionnaire, and any other
document contemplated hereby or thereby, the consummation of the transactions
contemplated hereby and thereby, and the performance of the undersigned’s
obligations hereunder and thereunder, will not conflict with, or result in any
violation of or default under, any provision of any charter, by-laws, trust
agreement, partnership agreement or other governing instrument applicable to the
undersigned, or any agreement or other instrument to or by which the undersigned
or the properties of the undersigned is a party or may be
bound.

       

      (m)           If executing this Subscription Agreement
in a representative or fiduciary capacity on behalf of the person, partnership,
trust, estate, corporation, or other entity for whom the undersigned is acting
in this matter, that such person, partnership, trust, estate, corporation or
other entity has full right and power to execute, deliver, and perform this
Subscription Agreement, and to become a shareholder of the Company, and that
each of the representations contained in this Subscription Agreement are true
and accurate with respect to such person, partnership, trust, estate,
corporation or other entity.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

       

      (n)           The acceptance of the undersigned’s
Subscription Agreement together with the appropriate remittance in the form of
the Subscription Amount will not breach any applicable money laundering rules
and regulations and the undersigned undertakes to provide verification of its
identity reasonably satisfactory (on a confidential basis), to the Company
and/or any entity acting on the Company’s behalf in respect of the acceptance of
subscriptions, promptly on request.

       

      (o)           The undersigned understands that due to
money laundering requirements operating within their respective jurisdictions,
the Company, and any entity acting on the Company’s behalf, may require further
identification of the undersigned before this Subscription Agreement can be
processed.  The undersigned agrees that the Company shall be held
harmless and indemnified by the undersigned against any loss arising from the
failure to process this Subscription Agreement if such information as has been
required from the undersigned has not been provided by the
undersigned.

       

      (p)           THE UNDERSIGNED UNDERSTANDS THAT THE
LEGAL AND ECONOMIC MATTERS RELATING TO ITS INVESTMENT IN THE COMPANY ARE COMPLEX
AND THAT THE UNDERSIGNED IS FREE TO SEEK INDEPENDENT PROFESSIONAL GUIDANCE OR
COUNSEL WITH RESPECT THERETO.  THE UNDERSIGNED HAS EITHER SOUGHT SUCH
ADVICE OR COUNSEL OR DETERMINED, AFTER CAREFULLY READING THE CONFIDENTIAL
PRIVATE PLACEMENT MEMORANDUM, THIS SUBSCRIPTION AGREEMENT, AND THE OTHER
DOCUMENTS AND AGREEMENTS CONTEMPLATED HEREBY AND THEREBY, TO FOREGO SUCH
ADVICE.  THE UNDERSIGNED ACKNOWLEDGES THAT COUNSEL TO THE COMPANY IS
NOT ACTING AS COUNSEL TO THE UNDERSIGNED.

       

      (q)           THE UNDERSIGNED IS NOT RELYING UPON ANY
WRITTEN OR ORAL REPRESENTATION OR ADVICE FROM THE COMPANY, THE OFFICERS OR
DIRECTORS OF THE COMPANY, OR ANY OF THEIR RESPECTIVE AGENTS OR REPRESENTATIVES,
WITH RESPECT TO (i) ANY LEGAL, TAX, ECONOMIC OR OTHER CONSIDERATIONS
INVOLVED IN THE UNDERSIGNED’S INVESTMENT IN THE COMPANY, OR (ii) THE
MEANING OR EFFECT OF ANY TERMS OR CONDITIONS OF THIS SUBSCRIPTION AGREEMENT OR
ANY OTHER DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY OR
THEREBY.

       

      (r)           The undersigned has completed the
attached Confidential Investor Questionnaire, which is incorporated herein and
made a part hereof, and that the information contained therein is complete and
accurate as of the date hereof and shall be accurate as of the date of the
Closing.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

       

      The foregoing representations and
warranties are true and accurate as of the date hereof and shall be true and
accurate as of the date of Closing and shall survive such
date.  If
in any respect such representation and warranties shall not be true and accurate
prior to Closing, the undersigned shall give immediate notice of such fact to
the Company at c/o Durham Jones and Pinegar, 111 East Broadway, Suite 900, Salt
Lake City, UT 84111 (Fax: (801) 415-3500), Attn: C. Parkinson Lloyd, Esq., by
facsimile or telegram with written confirmation of receipt, specifying which
representations and warranties are not true and accurate and the reasons
therefor.

       

      6.          
  Indemnification.  The undersigned
acknowledges that the undersigned understands the meaning and legal consequences
of the representations and warranties made by the undersigned herein and in the
attached Confidential Investor Questionnaire and that the Company is relying on
such representations and warranties in making its determination to accept or
reject this Subscription.  The undersigned hereby agrees to indemnify
and hold harmless the Company, its agents, and each director, officer or
employee of the Company from and against any and all loss, damage or liability
due to or arising out of a breach of any such representation or warranty of the
undersigned.

       

      7.      
      Time; No
Revocation.  Time
shall be of the essence in this Subscription Agreement.  The
undersigned agrees that this Subscription Agreement and any agreement of the
undersigned made hereunder is irrevocable, and that this Agreement shall survive
the death or legal incapacity of the undersigned.

       

      8.    
        Notices.  All notices or other
communications given or made hereunder shall be in writing and shall be deemed
effectively given: (a) upon personal delivery to the party to be notified,
(b) when sent by confirmed telex or facsimile if sent during normal
business hours of the recipient, if not, then on the next business day,
(c) five (5) days after having been sent by registered or certified mail,
return receipt requested, postage prepaid; or (d) one (1) day after deposit
with a nationally recognized overnight courier, specifying next day delivery,
with written verification of receipt, if addressed to the Company, 7251 West
Lake Mead Blvd, Suite 300, Las Vegas, Nevada, 89128, Attn: Richard Henderson, or to the undersigned at the address
set forth on the signature page hereto, or at such other place as a party may
designate by written notice to the other party in accordance with this
Section 8.

       

      9.      
      Survival of
Agreements, Representations and Warranties.  All agreements,
representations and warranties contained herein or made in writing by or on
behalf of a party hereto in connection with the transactions contemplated by
this Subscription Agreement shall survive the execution and delivery of this
Subscription Agreement, any investigation at any time made by any party, and the
sale and purchase of the undersigned’s Shares of the Company’s common stock and
payment therefor.

       

      10.           Modification
or Termination.  Neither this Subscription
Agreement nor any provisions hereof shall be waived, modified, discharged or
terminated except by an instrument in writing signed by the party against whom
any waiver, modification, discharge or termination is sought; provided, however, that if this Subscription is rejected
in full by the Company, then this Subscription Agreement shall be null and void
and of no further force and effect, and no party shall have any rights against
any other party hereunder, and the Company shall promptly return or cause to be
returned to the undersigned this Subscription Agreement.

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

       

      11.           Successors
and Assigns.  This Subscription Agreement
shall be binding upon and inure to the benefit of the parties and their
successors and permitted assigns.  If the undersigned is more than one
person, their obligations shall be joint and several, and the agreements,
representations, warranties and acknowledgments herein contained shall be deemed
to be made by and be binding upon each such person and its successors and
assigns.  Notwithstanding the foregoing, this Subscription Agreement
is not transferable or assignable by the undersigned and any such attempted
transfer or assignment shall be null and void.

       

      12.           Complete
Agreement of the Parties.  This Subscription Agreement
and the other agreements or documents referred to herein or therein contain the
entire agreement of the parties, and there are no representations, covenants or
other agreements except as stated or referred to herein and in such other
agreements or documents.

       

      13.           Severability.  Any term or provision of
this Subscription Agreement that is invalid or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such invalidity
or unenforceability without rendering invalid or unenforceable the remaining
terms or provisions of this Subscription Agreement or affecting the validity or
enforceability of any of the terms or provisions of this Subscription Agreement
in any other jurisdiction.

       

      14.           Counterparts.  This Subscription Agreement
may be executed in any number of counterparts, each of which shall be an
original but all of which taken together shall constitute one
agreement.

       

      15.           Governing
Law.  This
Agreement shall be governed by and construed under the laws of the State of
Nevada as applied to agreements among US residents entered into and to be
performed entirely within the United States.

       

      16.           General.  Signatures transmitted by
facsimile shall be effective and binding as if an original.  By
executing the signature page to this Subscription Agreement, the undersigned
agrees to be bound by the foregoing.

       

      [SIGNATURES
TO FOLLOW]

       

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      SUBSCRIPTION
AGREEMENT

      SIGNATURE
PAGE

       

      

       

      
        	
                Very
      truly yours,

                 

                 

                Plant
      Offshore Group Limited                                                                                       
      

                Print
      Subscriber’s Full Legal Name

                 

                /s/                                                                                                                                      
      

                Signature

                 

                Managing
      Director & Chief Executive Officer, Plant Offshore Group
      Limited       

                Print
      Title of Signatory

                (if
      applicable)

                 

                                                                                                                                              
                  
      

                Social
      Security Number or Federal Employer Identification Number

                 

                (603)
      7805
      5001                                                                                                                
      

                Telephone
      Number

                 

                (603)
      7804
      4275                                                                                                                
      

                Facsimile
      Number

                                                                                                                         

                                                                                                                                                         
        

                Email
      Address

                 

                Residence
      Address:

                                                                                                                         
      

                                                                                                                         

                                                                                                                         

                 

                 

                Mailing
      Address (if different):

                No 34, Jalan SS6/8,
      Kelana Jaya, 47301,  Petaling Jaya, Selangor,
      Malaysia         
      

                                                                                                                                                           
      

                 

              	 
      	
                SUBSCRIPTION
      AMOUNT:

                 

                US$
      9,171,682                                                                                   
       

                 

                 

                NUMBER OF PREFERRED
      SHARES:
      917,168                           
      

                 

                Dated:
      September 24, 2008

                 

                 

                WITNESSED:  /s/                                                                                
      

                                                                
      Signature

                 

                Pey
      Chee
      Hian                                                                                    
       

                                               
      Print Witness’ Full Legal Name

                 

                 

                Executive
      Director, Plant Offshore Group
      Limited                         
      

                                                   
      Print Title of Signatory

                 

                 

                 

                 

                 

              
	 
      	 
      	 
      

      

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      RENEWABLE
FUEL CORP

      a
Nevada corporation

       

      ACCEPTANCE

       

      Renewable
Fuel Corp, a Nevada corporation (the “Company”), hereby
accepts the above Subscription Agreement and Investor’s Subscription to acquire
shares of the Company’s Series A Preferred Stock in the amounts set forth below,
upon the terms and conditions of the Subscription Agreement to which this
Acceptance is attached and of which it is a part.

       

      

      
        
          
            
              	 
      	
                      ACCEPTED
      BY:

                    
	 
      	 
      	 
      
	 
      	
                      RENEWABLE
      FUEL CORP

                    
	 
      	
                      a
      Nevada corporation

                    
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                      By:

                    	
                      /s/
      William Van Vliet

                    
	 
      	 
      	
                      William
      Van Vliet

                    

            

          

        

      

       

      
 

      
        
          
            	 
      	
                    WITNESS:

                  	
                    /s/
      Tan Yee Hean

                  	 
      
	 
      	
                    Name: 
      Tan
      Yee Yean

                  	 
      

          

        

      

      

       

      

       

      Subscription
Accepted:

       

      Per share
price = $10.00 per Preferred Share

       

      Number of
Preferred Shares: 917,168                                                                      

       

      Subscription
Amount: $9,171,682

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]