CONTRACT

CONTRACT NO.: JU2000E4-DNS-PO-

The Buyer: DALIAN SHIPBUILDING INDUSTRY (DSIC)

Address: No.1HAIFANG STREET, DALIAN, . China

Tel: (86-411) Fax: (86-411)

The Seller:

Address:

Tel: Fax:

The User: CHINA OILFIELD SERVICES LIMITED (COSL)

This Contract is made by and between the Buyer and the Seller; whereby the Buyer agrees to buy and the Seller agrees to sell the under-mentioned commodity according to the terms and conditions stipulated below:

1.DETAILS OF COMMODITIES

Should the Buyer(s) further order the same Commodity at the same year and next year, the Sellers hereby agree to provide the Commodity with same unit price and quality as describe herein.

2.COUNTRY OF ORIGIN AND MANUFACTURER

3.PACKING

Unless otherwise specified in Contract, the supplied goods shall be packed by export

standard protective measures. Such packing shall be suitable for long distance ocean

and inland transportation and well protected against dampness, moisture, shocks, rust

and rough handling so as to ensure that the goods will safely arrive at the site without any damage due to the above mentioned reasons.

The Seller shall be liable for any rust, damage and loss caused by inadequate or improper packing or protective measures provided by Seller.

The Seller shall provide the Buyer the shipping documents together with quarantine certificate for wooden packing materials. Two copies of the each packing list and the quality certificate shall be packed in each package. One copy is inside and the other outside.

Packing materials shall not allow using the wooden with skin and worm or any alive egg.

4.SHIPPING MARK

The Seller shall mark on the four adjacent sides of the each package with fadeless paint the package number or serial number of the package, gross weight, net weight, measurement, contract No., port of destination and necessary wordings such as “KEEP AWAY FROM MOISTURE”, “HANDLE WITH CARE”, “THIS SIDE UP” and “KEEP DRY” etc.

And the shipping mark: Contract No. JU2000E4-DNS-PO-

DALIAN SHIPBUILDING INDUSTRY

Dalian, HULL NO.: JU2000E-04

Destination

The Seller shall mark on two sides of each package which weight is ton or more or cubage is one cube meter or more in English with appropriate transportation marks common in international, the “center of gravity” and “point of slinging” in order to facilitate loading, discharging and handling.

5.TIME OF SHIPMENT:

6.PORT OF SHIPMENT:

7.PORT OF DESTINATION: DALIAN, the . CHINA

8.INSURANCE

a)Under EXW, FOB, FCA and C&F terms, insurance to be covered by the Buyer.

b)Under CIF and CIP, insurance to be covered by the Seller with the Buyer as the

beneficiary for 110% of invoice value of the goods shipped against all risks.

9.PAYMENT

a)By Direct Remittance (T/T)

Payment shall be effected by the Buyer, by Telegraphic Transfer within Forty-five

(45) business days upon receipt from the Seller of the goods and all supporting

documentations, specified in Clause 10 of this Contract and subject to Acceptance Report.

b)By Letter of Credit (L/C) 90%