Document:

EX-4.27

Exhibit 4.27

English Translation of Chinese Original

Agreement on Transfer of Contractual Rights under

the Production Sharing Contract on the Bagtyiarlyk Area at Amu Darya Right Bank in

Turkmenistan between CNPC International Ltd. and Beijing Amu Darya Company

This agreement (this “Agreement”) is entered into on August 28, 2009 in Beijing, by and between:

Party A: CNPC International Ltd. (“CNPCI”), a company with limited liability incorporated under the
laws of Cayman Island; and

Party B: Beijing Amu Darya Company (“Amu Darya”), a company with limited liability established
under the laws of the People’s Republic of China (“PRC”).

Whereas,

1. Party A entered into the Production Sharing Contract on the Bagtyiarlyk Area at Amu Darya Right
Bank in Turkmenistan on July 17, 2007 (the “Product Sharing Contract”), attached hereto as Appendix
1, with Turkmen State Agency for Management and Use of Hydrocarbon Resources (the “State Agency”),
and applied for and has obtained the exploration and development license, attached hereto as
Appendix 2, from the State Agency;

2. Pursuant to Article 27 of the Product Sharing Contract, Party A shall have the right to transfer
to its affiliates all or portion of any of its rights, privilege, obligation, liability or
responsibility under the Product Sharing Contract or the exploration and development license
without prior written consent of the State Agency, provided that the party transferring its rights
and obligations do not violate its obligations hereunder and the transferee shall be obligated to
comply with the terms and conditions of this Agreement;

3. Pursuant to Article 1.1.88 of the Product Sharing Contract, Party B is an affiliated company of
Party A;

4. Pursuant to the Product Sharing Contract, Party A is willing to transfer to Party B, and Party B
agrees to acquire from Party A, all the rights and obligations of Party A thereunder.

NOW THEREFORE, after friendly negotiation, the parties hereby enter into the following agreement
with respect to the transfer of the contractual rights under the Product Sharing Contract:

Article 1 Transfer of the Contractual Rights

1.1 Party A hereby transfers to Party B all its rights and obligations under the Product Sharing
Contract and the related exploration and development license, as well as the related assets and
liabilities of Party A generated from its performance of the Product Sharing Contract (hereinafter
the “Transferred Interests”).

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1.2 Party B hereby agrees to acquire the Transferred Interests, assume the rights, obligations and
liability related to the Transferred Interests in accordance with the provisions of this Agreement,
and comply with the terms and conditions of the Product Sharing Contract.

Article 2 Price and Closing of the Transfer

2.1 Party A and Party B agree to engage China Enterprise Appraisal Company to conduct appraisal for
the Transferred Interests owned by Party A in the Amu Darya Right Bank oil and gas project by
following the required valuation process, in accordance with the applicable asset valuation rules
and based on the principle of independence, objectiveness and fairness. The method adopted in such
appraisal is the present earning value method and the value type adopted therein is the market
value. Based on the appraisal result prepared by China Enterprise Appraisal Company adopting July
31, 2009 as the reference date of the appraisal, the preliminary consideration for the Transferred
Interests determined by both parties shall be USD1,186.52 million, of which USD350.52 million will
by paid by Party B in cash to Party A directly, and bank loans amounting to USD836.00 million owed
by Party A in the course of performing its obligations under the Product Sharing Contract will be
assumed by Party B. The preliminary consideration will be adjusted by reference to the final
valuation results filed with the State-owned Assets Supervision and Administration Commission and
the change in the value of the Transferred Interests during the period from the reference date of
the appraisal to the Closing Date, and the adjusted price shall be the final transfer price. Party
B shall pay the final price to Party A within 45 days from the Closing Date of the transfer of the
Transferred Interests.

2.2 The closing hereunder shall be held on the agreed date (the “Closing Date”) within 10 days
following the satisfaction of all the following conditions:

(a) The transfer of the Transferred Interests has been approved in accordance with all the
necessary internal procedures of both parties;

(b) The Asset Appraisal Report, which serves as the basis for the pricing of the Transferred
Interests, has been confirmed by Party A and Party B, and has been filed with the competent
state-owned assets supervision and administration authorities;

(c) This Agreement and the transfer of this Transferred Interests have obtained all required
governmental approval or third party consent;

(d) Party B has registered in Turkmenistan a branch for purpose of performing the Product Sharing
Contract, and has obtained the new license issued by the State Agency; and

(e) The representations, warranties and covenants of both parties set forth hereunder shall remain
to be accurate and true as of the Closing Date.

2.3 The parties to this Agreement shall endeavor to cooperate friendly in order to ensure the
satisfaction of the above conditions as soon as possible, and shall use all reasonable efforts to
causes the consummation of the transfer of the Transferred Interests on or prior to December 31,
2009.

2.4 Any profits, income, losses and potential losses arising out of or in connection with the
Transferred Interests from the reference date of the appraisal to the Closing Date shall be assumed
by Party A.

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2.5 Party A shall deliver all the documents, files and materials related to the Product Sharing
Contract to Party B on the Closing Date in accordance with Appendix 3.

Article 3 Further Undertakings of Both Parties

3.1 Party A shall be obligated to assist Party B to deal with matters relating to the transfer of
the rights under the Product Sharing Contract in Turkmenistan, including without limitation, filing
application, coordination of the government relationship and assisting Party B to apply for the
relevant license to the State Agency.

3.2 Party A and Party B shall be obligated to take any further actions necessary for the
achievement of the purpose hereof and the subject matter contemplated hereunder, including without
limitation, the execution of any other relevant contracts or documents.

3.3 Party A undertakes that it shall keep Party B harmless from any damages resulted from any
claims, litigations or expenses in connection with the performance of its obligations and liability
hereunder prior to the closing, and Party B undertakes that it shall keep Party A harmless from any
damages resulted from any claims, litigations or expenses in connection with Party B’s performance
of its obligations and liabilities under the Product Sharing Contract.

Article 4 Amendment and Termination

4.1 In the event of change of the conditions under which Party A and Party B enter into this
Agreement, which makes one party deems it necessary to make amendment to or terminate this
Agreement, and the other party deems such amendment or termination is reasonable and feasible, both
parties may amend or terminate this Agreement in writing based on mutual agreement.

Article 5 Representations and Warranties of Party A and Party B

5.1 Representations and warranties of Party A

(a) Party A is a corporation legally established and existing under the laws of PRC;

(b) Party A has been operating its business in accordance with applicable laws and does not carry
out any business beyond its business scope approved by applicable laws;

(c) All governmental approvals and internal authorizations required for the execution of this
Agreement have been obtained, and this Agreement shall constitute an obligation binding upon Party
A after being executed by both parties;

(d) The execution of this Agreement by Party A does not violate the provisions with respect to the
transfer under the Product Sharing Contract; and

(e) The execution of this Agreement or the performance of the obligation hereunder by Party A does
not violate any other contracts to which it is a party, its articles of association or any
applicable laws, regulations or provisions.

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5.2 Representations and warranties of Party B

(a) Party B is a company with limited liability legally established as an independent legal person;

(b) Party B has been operating its business in accordance with applicable laws and does not carry
out any business beyond its business scope legally approved;

(c) All governmental approvals and internal authorizations required for the execution of this
Agreement have been obtained, and this Agreement shall constitute an obligation binding upon Party
B after being executed by both parties; and

(d) The execution of this Agreement or the performance of the obligation hereunder by Party B does
not violate any other contracts to which it is a party, its articles of association or any
applicable laws, regulations or provisions.

Article 6 Force Majeure

6.1 “Force Majeure” shall mean any event occurs after the date of this Agreement which is beyond
the reasonable control of the affected party and which is reasonably unforeseeable or unavoidable
or although foreseeable but cannot be overcome, and which makes it impossible or impractical for
such party to perform all or portion of its obligations under this Agreement, including, but not
limited to, flood, fire, drought, typhoon, earthquake and any other natural disasters, traffic
accidents, strikes, insurrection, riots and war (whether declared or not). If a party has been
prevented from performing all or portion of its obligations hereunder because of an event of Force
Majeure, the performance of such obligation shall be suspended during the affected period.

6.2 The party claiming an event of Force Majeure shall notify the other party of such event in
writing within the shortest possible time, and shall deliver in person or by registered air mail to
the other party appropriate evidence proving the occurrence and the duration of the Force Majeure
event within fifteen (15) days following the occurrence of such an event. The affected party
claiming that it is impossible or impractical for it to perform its obligations under this
Agreement due to the event of Force Majeure shall be obligated to endeavor all reasonable efforts
to minimize or remove the effects of such Force Majeure.

6.3 Upon occurrence of the Force Majeure event, the parties shall immediately negotiate in good
faith with respect to the performance of this Agreement; and upon termination or removal of the
effect of the Force Majeure event, both parties shall immediately resume performance of their
respective obligations hereunder.

Article 7 Miscellaneous

7.1 Unless otherwise agreed hereunder, neither party may transfer all or portion of its rights or
obligations under this Agreement without prior written consent of the other party.

7.2 This Agreement and the Appendices attached hereto constitute the entire agreement of the
parties hereto with respect to the subject matter hereof and supersede all prior agreements,
contracts, undertakings and communications, both written and oral, between the parties with respect
to the subject matter hereof.

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7.3 If any term or provision of this Agreement is invalid, illegal or incapable of being enforced,
all other terms and provisions of this Agreement shall nevertheless remain in full force and
effect.

7.4 This Agreement may not be amended or modified except by an instrument in writing signed by the
respective authorized representatives of both parties and being approved by both parties by taking
appropriate corporate action.

7.5 Unless otherwise provided, the failure or delay of either party hereto to assert any of its
rights, power or privilege hereunder, or the performance of single or portion of such rights, power
or privilege, shall not constitute a waiver of any of other rights, power or privilege hereunder.

7.6 The appendices are an integral part of this Agreement and shall have the same binding effect as
if it has been incorporated into this Agreement.

Article 8 Communications

8.1 All notices and other communications hereunder shall be written in Chinese and Russian, and
shall be sent by personal delivery or in registered mail or by facsimile to the respective parties
hereto at the following addresses. The date of service of notices shall be determined as the
follows:

(a) The date of service of notices shall be the date of delivery if by personal delivery;

(b) The date of service of notices by registered mail shall be the 7th day after the
notice is being delivered to postal services (as indicated by the postmark), and if such
7th day is a Sunday or a public holiday, it shall be postponed to the next working day;

(c) The notices sent by facsimile shall be deemed to have been duly delivered upon the completion
of the transmission of the facsimile, provided that the sender shall deliver the electronic
answerbacks produced by the fax machine for such notice sent by facsimile to prove that such
notices have been successfully delivered to the other party.

The address and the fax number of each party are as follows:

If to the CNPC International Ltd.:

Block D, No. 6-1 Fuchengmen Beidajie,

Xicheng District, Beijing 100034,

China

Fax: 010-5855 1000

If to Beijing Amu Darya Company:

Tower B, Lanhua International Plaza,

No. 19 Anyuan, Anhuibeili,

Chaoyang District, Beijing 100101,

China

Fax: 010-5817 9276

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8.2 If any party changes its address or fax number, it shall promptly inform the other party of the
same in accordance with this Article 8.

Article 9 Governing Law and Dispute Resolution

9.1 This Agreement shall be construed in accordance with laws of Turkmenistan.

9.2 Any dispute arising out of or in connection with this Agreement shall be resolved by Party A
and Party B through friendly negotiation. In case of failure of such negotiation, either Party A
or Party B may refer such dispute to Beijing Arbitration Committee for arbitration in accordance
with the then effective arbitration rule. An arbitral award is final and binding upon both parties.

Article 10 Supplementary Provision

10.1 This Agreement shall be written in both Chinese and Russian with two language versions of the
same legal effect. In case of any discrepancy between the two versions in respect of the
construction or the enforcement of this Agreement and the appendices hereto, the Chinese version
shall prevail.

10.2 Each of the Chinese and Russian versions of this Agreement shall be executed in nine (9)
copies, which shall become effective upon the execution by the respective authorized
representatives of each party and the affixation of the corporate seal thereof.

10.3 The appendices hereto shall be an integral part of this Agreement, which shall have the same
legal effect with this Agreement.

Party A: CNPC International Ltd.

Authorized representative: /s/ [          ]

(corporate seal)

Party B: Beijing Amu Darya Company

Authorized representative: /s/ [          ]

(corporate seal)

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Appendix 1

The Production Sharing Contract on the Bagtyiarlyk area at Amu Darya Right Bank in Turkmenistan
between Turkmen State Agency for Management and Use of Hydrocarbon Resources and CNPC International
Ltd.

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Appendix 3

Scope of the assets involved in the business of exploration and exploitation under the Amu Darya
project

The scope of the assets involved in the business of exploration and exploitation under the Amu
Darya project includes the assets of Party A for the business of exploration and exploitation (see
the Asset Appraisal Report for details), including, but not limited to, the assets related to the
business of exploration and exploitation and the assets, liabilities and interests relating
thereto, which include:

1. buildings and other structures, vehicles, machinery equipment and auxiliary equipment, oil-gas
well, gas processing plant, gathering line and export pipeline owned by Party A;

2. the rights and obligations under the contracts and agreements, including the amendments and
supplements thereto, entered into by Party A in connection with the business of exploration and
exploitation under the Amu Darya project, including title to buildings and any guarantee with
respect to such contracts and agreements;

3. the entire interests under all permits, licenses, approval certificates, certificates, power of
attorney and any other similar documents held or obtained by Party A, subject to the transfer of
the same is permitted by applicable law;

4. rights of claim, set-off rights or any other similar rights of Party A against any third party,
in each case, relating to or arising from the assets involved in the business of exploration and
exploitation;

5. any business records, accounting records, operating records, operating data, operating
statistics, specifications, maintenance manual, training manual in connection with the assets
involved in the business of exploration and exploitation, and relevant technical records,
materials, drawings, manuals and books, as well as records of research and development projects and
any other know-how, no matter kept in written or electronic hardware or otherwise; and

6. Any other assets recorded in the Asset Appraisal Report. The parties agree that in case of any
different understanding with respect to the assets for the business of exploration and
exploitation, the records under the Asset Appraisal Report shall prevail.

8EX-4.28

Exhibit 4.28

English Translation of Chinese Original

	 	 	 

	 

	 	Listing No.: G309SH1004300
	 
	 	 
	 

	 	Contract No.:

Shanghai Municipality

Equity Transfer Agreement

Formulated by

Shanghai Municipal Administration of Industry and Commerce

Shanghai Property Rights Exchange Administration Office

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Instruction for Use

1. This form agreement is formulated in accordance with the Contract Law of the People’s Republic
of China, the Interim Administrative Measures on the Transfer of State Owned Property Rights of
Enterprises and the Measures on the Administration of Shanghai Municipal Property Right Exchange
Market.

2. In order to protect the rights and interests of the parties to this agreement, the parties shall
be prudent in the execution of this agreement and shall endeavor to make the provisions of the
agreement flawless. With respect to the terms and conditions in this form agreement that the
parties intend to include in their specific agreement, the parties must use explicit language to
describe such terms and conditions; with respect to other terms not to be included, the parties
shall insert such expression as “Such term is not applicable to this Agreement” or “It is not
required to reach any agreement with respect to such term in this Agreement”.

3. Transferor refers to the owner, the contributor or disponer of the asset to be transferred.

4. Transferee refers to any legal person, individual or other organization who acquires the
property rights by way of agreement, electronic competitive bidding or bid evaluation through the
Shanghai United Assets and Equity Exchange.

5. Brief description of the parties to the agreement: the parties shall provide such information as
required by this form agreement, and the description of the type of organization of the transferor
and the transferee shall be consistent with that under their respective business license. If the
transferor and/or the transferee are/is (an) individual person(s), then their name, nationality,
identification number (passport number), address of domicile, zip code, telephone number and bank
account are required to be provided herein.

6. The subject matter of the transfer refers to the all or partial property right legitimately
owned by a legal person, individual person or any other organizations, including without
limitation, the land use right, houses and buildings, equipment, vehicles and technical projects,
trademark rights, and patent rights.

7. Transfer price: With respect to the transfer price of any state-owned property rights, it shall
be fixed on the basis of the asset evaluation of such state-owned property. Any fixing of price by
way of competitive bidding or agreement without going through asset evaluation is typically
applicable to the transfer of non-state-owned property rights.

8. Employee settlement related to the transfer: The parties shall reach agreement with respect to
the settlement of the employees of the transferor pursuant to the relevant regulations. If the
employee settlement falls under the circumstances set forth under the Interim Administrative
Measures on the Transfer of State Owned Property Rights of Enterprises, a resolution in respect of
the employee settlement plan passed by the employees’ general meeting shall be attached to this
agreement.

9. Assumption of creditor’s rights and liabilities in relation to the transfer refers to the
handling of the creditor’s rights and debts, including the arrears of wages to the employees, of
the target company. If it falls under the circumstances set forth under the Interim Administrative
Measures on the Transfer of State Owned Property Rights of Enterprises, the

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relevant agreement in respect of such creditor’s rights or debts agreed by the creditor(s)
(financial institutions) in writing shall be attached to this agreement.

10. Disposal of assets refers to the disposal of the actual objects, including without limitation,
the land use right, houses and buildings, equipment, vehicles, technical projects, trademark rights
and patent rights, in accordance with the specific agreement with respect to such different
objects.

11. Reference date of the transfer refers to the date as of which the value of the subject matter
of the transfer is determined.

12. Liability for breach of contract: In case the parties reach an agreement on both liquidated
damages and deposit, the non-defaulting party may choose to apply either the liquidated damages or
deposit in the event of any breach of contract by the other party.

13. Dispute resolution: In addition to negotiation and mediation, the parties may submit the
dispute to an arbitral tribunal or a court; provided, however, the parties shall not stipulate
other means of dispute resolution if they have determined to choose arbitration as dispute
settlement.

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Parties and Property Right Brokers to this Agreement

Transferor (hereinafter “Party A”): Daqing Petroleum Administrative Bureau

Domicile address: Longnan, Ranghulu District, Daqing City

Legal representative: Wang, Yongchun

Form of organization: State ownership

Registered capital: RMB 36.355 billion

Tel:                                 Fax:

Property Right Brokerage Organizations: Shanghai WBSA Consultation Service Co., Ltd.

Tel: 5158 0276           Fax: 51580277           136 5192 7179

Email:
shwwwcalth@126.com; shcljixu@126.com

Transferee (hereinafter “Party B”): PetroChina Kunlun Gas Limited

Domicile address: East of Dugezhuang Village, Renhe, Shunyi District, Beijing

Legal representative: Xiang, Pingsheng

Form of organization: company with limited liability solely funded by a legal person

Registered capital: RMB 3.06 billion

Tel: 8483 6375           Fax: 8483 6374

Property Right Brokerage Organizations: Beijing Zhongqitongcheng Investing Consultation Ltd.

Tel: 010-6398 1677

In accordance with the laws and regulations of the People’s Republic of China and relevant
provisions, Party A and Party B hereby enter into this agreement (this “Agreement”) based on the
principle of mutual equality, fairness, voluntary compliance and good faith.

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Whereas:

1. Daqing Oilfield Zhongqing Gas Holding Co., Ltd. was established on September 30, 2005 with a
registered capital of RMB 1 billion, contributed by Daqing Petroleum Administrative Bureau,
accounting for 100% of its registered capital.

2. As shown from the Asset Appraisal Report (Zhong Qi Hua Ping Bao Zi (2009) No. 267) and the
Filing Form for the Appraisal of State-owned Asset issued by Beijing Zhongqitongcheng Investing
Consultation Ltd., as of March 31, 2009, the total assets of Daqing Oilfield Zhongqing Gas Holding
Co., Ltd. amounted to RMB 1,360,671,300, the total liabilities amounted to RMB 272,607,100, and the
net assets was RMB 1,088,064,200.

3. The parties hereto have respectively obtained due authorization for the transfer of the 100%
equity interests of Daqing Oilfield Zhongqing Gas Holding Co., Ltd.

Article 1 Subject Matter of the Equity Transfer

Party A shall transfer to Party B all the equity interests it holds in Daqing Oilfield Zhongqing
Gas Holding Co. with consideration.

Article 2 Transfer Price

The price for the transfer of the equity interests described in the above Article 1 by Party A to
Party B shall be RMB ONE BILLION EIGHTY-EIGHT MILLION SIXTY-FOUR THOUSAND AND TWO HUNDRED (RMB
1,088,064,200).

Article 3 Transfer Method

After the filing of the asset appraisal report of the above equity interests to be transferred, the
Transferor shall adopt the method of open auction to determine the transferee and the transfer
price, and then enter into a contract with the transferee with respect to the transfer of the
equity interests.

Article 4 Employee Settlement relating to the Equity Transfer

Upon mutual agreement between Party A and Party B, the parties shall take the following method to
settle the employee involved in the transfer:

This term is not applicable to this Agreement.

Article 5 Assumption of the Creditor’s Rights and Liabilities in relation to the Equity Transfer

Upon mutual agreement between Party A and Party B, the parties agree that the creditor’s rights and
liabilities of the target company incurred prior to the equity transfer shall be succeeded by
Daqing Oilfield Zhongqing Gas Holding Co., Ltd..

Article 6 Disposal of the Assets Involved in the Equity Transfer

Upon mutual agreement between Party A and Party B, the parties agree to dispose the assets involved
in the equity transfer as the follows:

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This term is not applicable to this Agreement.

Article 7 Upon mutual agreement between Party A and Party B, the total consideration for the equity
transfer shall be paid in a lump sum, and the term and condition of the payment shall be as
follows:

1. The RMB 300 million which has been paid as performance guarantee by Party B shall be made as
performance deposit upon the execution of this Agreement, which shall be formed as part of the
total consideration for the equity transfer.

2. Since both Party A and Party B are subsidiaries of China National Petroleum Corporation, and in
accordance with Article 41 of the Operational Rules of the Transactions Involving State-owned
Equity, which provides that “If the parties to the transaction are under the common control of same
controller, then after the verification of such fact by the relevant equity exchange, the
transaction price may be settled over-the-counter.”, Party B shall remit the total consideration
(including the amount of performance guarantee which has been paid by Party B) for the equity
transfer in a lump sum to the account designated by Party A within 10 working days following the
execution of this Agreement.

Article 8 Closing

1. Party A shall, after the execution of this Agreement, consummate the closing in accordance with
the Equity Transfer Document within 90 days following the issuance of the same.

2. The Transferor shall deliver the Capital Contribution Certificate or the changed register of
shareholders issued by the target company to the Transferee at the closing date, and cause and
assist the target company to handle the formalities in respect of the change of the equity interest
with the competent administration of commerce and industry.

3. The Transferor shall transfer to the Transferee or the target company all the materials in its
possession as of the closing date, including without limitation, the asset list, financial
statement and files.

4. The Transferee will obtain the target equity interest and all rights and interests derived
therefrom from the date of closing in accordance with applicable PRC laws and regulations, and
enjoy the rights and assume the obligations under applicable laws and regulations and the articles
of association.

Article 9 Change of Certificate of Title

Party A shall cooperate with Party B to go through the formalities in respect of change of the
certificate of title of the transferred property within 90 days following the issuance of the
transaction document by Shanghai United Assets and Equity Exchange.

Article 10 Taxes and Fees Involved in the Transfer

All the taxes involved in the transfer shall be paid in accordance with the relevant PRC laws and
regulations.

Party A and Party B agree that they shall only be responsible for their own fees relating to the
transfer.

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Article 11 Default Liabilities

1. Any party who breaches this Agreement shall assume default liability. If Party A breaches this
Agreement and makes it unable to be performed, it shall repay the deposit in double to Party B. If
Party B breaches this Agreement and makes it unable to be performed, it shall not have the right to
request Party A to return the deposit.

If Party A and Party B agree to terminate this Agreement, Party A shall return the deposit to Party
B.

2. Party A and Party B may negotiate the method of compensation.

Article 12 Dispute Resolution

In the event of any disputes arising during the performance of this Agreement, Party A and Party B
may solve such dispute through negotiation, or apply to Shanghai United Assets and Equity Exchange
or Shanghai Property Rights Exchange Administration Office for mediation, or file a lawsuit with
competent court where the target company locates.

Article 13 Amendment and Termination

The parties may amend or terminate this Agreement in the event of the following events:

1. The parties agree to terminate this Agreement due to change of the relevant circumstances,
provided that such termination will not prejudice the national and public interests.

2. All the obligations of the parties hereunder are unable to be performed due to any force majeure
event.

3. One party fails to perform its obligations hereunder during the term of this Agreement for
causes accepted by the other party.

4. Any event of termination agreed herein occurs.

If Party A and Party B agree to terminate this Agreement, Party A shall repay the amount paid by
Party B in full.

In case of any amendment or termination of this Agreement, Party A and Party B and their respective
Property Right Brokerage Organizations shall enter into a separate agreement with respect to such
amendment or termination, and shall file such agreement to Shanghai United Assets and Equity
Exchange.

Article 14 Covenants of Party A and Party B

1. Party A undertakes to Party B that the equity interest transferred to Party B is true and
complete, and Party A does not conceal any of the following:

(a) any seizure by relevant governmental authority against the equity interests ;

(b) any security created on the subject interests or assets;

(c) any concealment of assets;

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(d) any pending legal proceedings;

(e) any other matters affecting the truthfulness and completeness of the property right.

2. Party B undertakes to Party A that:

(a) it is a transferee qualified under the announcement of the property right transfer, has full
legal capacity to purchase the property rights and does not commit any fraudulent conduct;

(b) it completely accepts the audit report and the asset appraisal report in connection with the
property right transfer and the disclosure made thereunder, and has finished all the due diligence
with respect to such transfer; and it is willing to accept all the disclosure made under the
announcement of the transfer of the property right at its sole discretion, based on the forgoing
reports and disclosure made thereunder;

3. Neither party may disclose this Agreement without prior written consent of the other party.

Article 15 Miscellaneous

Any matters not included herein shall be agreed by Party A and Party B separately after
negotiation.

This Agreement shall become effective upon (i) the execution by Party A and Party B and their
respective Property Right Brokerage Organizations, and the affixation of the corporate seal
thereof, and (ii) the examination by Shanghai United Assets and Equity Exchange and affixation of
the seal thereof, as well as its issuance of the property right transfer document.

If the laws and regulations provide any other requirement on the effectiveness of this Agreement,
such provisions shall be complied with.

The “Instruction for Use” and any other required attachments hereto shall have the same legal
effect as this Agreement.

This Agreement shall be executed in thirteen copies, with each of Party A and Party B to hold four,
the target company to hold one, each of the Property Right Brokerage Organizations of Party A and
Party B to hold one, Shanghai United Assets and Equity Exchange to hold one, and the administration
of commerce and industry where the target company registered with to hold one.

(End of the text)

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(Signature page)

	 	 	 

	Transferor (Party A)

	 	Transferee (Party B)
	 
	 	 
	Daqing Petroleum Administrative
Bureau

	 	PetroChina Kunlun Gas Limited
	 
	 	 
	Seal or signature by the legal

representative or authorized

representative:

	 	Seal or signature by the legal

representative or authorized

representative:
	 
	 	 
	/s/

	 	/s/ Xiang, Pingsheng
	 
	 	 
	 
	 	 
	Broker

	 	Broker
	 
	 	 
	(seal or signature)

	 	(seal or signature)
	 
	 	 
	 
	 	 
	Property Right Brokerage Organization

	 	 Property Right Brokerage Organization
	 
	 	 
	(seal)

	 	(seal)

Dated December 30, 2009

Shanghai United Assets and Equity Exchange

(seal for transaction contract review)

Dated December 31, 2009

9

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