SALES AND PURCHASE AGREEMENT

ON Diesel D2 Russian Gasoil L-0.2-62 Gost 305-82 Contract spot

Company Name : OLEUM SULTAN Pte. Ltd

Company Registration : 201722868W
Company Address : 8 WILKIE ROAD #03-01 WILKIE EDGE SINGAPORE
City : Singapore
Postal Code : 228095
COUNTRY : Singapore
Represented by : Dedi Purmana
Title : Ceo
E-mail : dedi@oleumsultan.co.sg /admin@oleumsultan.com.sg
Telephone : +62811 1098789 / +6281220323904
Personal ID No : B6901324
Herein referred as the “SELLER”
AND

Company Name :
Company Registration :
Company Address :
City :
Postal Code :
COUNTRY :
Represented by :
Title :
E-mail :
Telephone :
Personal ID No :
Herein referred to as the “BUYER,
CONTRACT NUMBER: OS/ MEC /D2/100.000 MT-SPOT-S/23052019/01

This Contract is made and entered into and executed by and between the company OLEUM SULTAN PTE. LTD ,
hereinafter referred to as the ”Seller” represented by Mr.Dedi Purmana, (Ceo), acting on the basis of the
Memorandum of Association, on the one hand,
And
The company ................ Hereinafter referred to as the «Buyer», represented by
Mr............ (President Director), acting on the basis of Corporate Resolution, on the other hand, together hereinafter
referred to as the “Parties”, as follows:

WHERE AS: The seller has agreed to sell petroleum product Diesel D2 Russian Gasoil L-0.2-62 Gost 305-82 of
Russian Export Grade to the buyer, the buyer has also agreed with full corporate authority and responsibility to buy
under the specified terms, conditions and procedures as stipulated in this S.P.A.
NOW therefore the parties agree as follows:It is being understood that each party may be referred to herein individually
as a “PARTY” or collectively as “PARTIES”.

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PRODUCT: Petroleum Product of Diesel D2 Russian Gasoil L-0.2-62 Gost 305-82 Standard
Grade of Russian Federation with quality and quantity to be determined by the
buyers authorized inspection agency.

QUANTITY: 50.000 MT SPOT DEAL

PRICE: GROSS USD 520 / NETT USD 510

COMMISSION: Seller pays commission: $10/MT

DELIVERY: Ship to Storage

TITLE TO THE The title to the goods here under shall pass from the seller to the buyer as the cargo
GOODS: is fully paid for.

DOCUMENTS: 1. Seller’s Draft contract + proof of product

PAYMENT: Payment of the goods under this contract is to be effected in US Dollars to seller’s
account as in the SPA. Payment is to be made immediately after transshipment
within the next morning

CURRENT Singapore Waters

PORT/POSITION

NEW
DESTINATION PORT
PROCEDURES: 1. Buyer 100% agreed with OJSC RN-Nakhodkanefteprodukt Refinery’ procedures.
2. Buyer issues ICPO.
3. Seller Send SPA
4. Both parties signs SPA and seal it
5. Seller issues partial POP including
a. Current Bill of Lading (To enable buyer spot the vessel/cargo’s location)
b. Product availability
c. Product Passport
d. Refiner commitment to supply product
e. Refinery insurance certificate from refinery’s insurance company to guarantee
the trial shipment delivery
f. Vessel Manifest

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 6. After verification. partial POP documents above, Buyer will pay 10 % of total
product value (50,000 MT Diesel D2)
a. buyer ESROW ACCOUNT USD 200.000 ,seller give 1 x 24 hours after buyer
sees the complete document for verification to make a decision to buy or
cancel .

7. Seller shall issue full POP to buyer via bank to bank

a. Copy license to export, issued by the department of the ministry of energy
b. Copy of approval to export, issued by department of the ministry of justice
c. Copy of Transnet contract to transport the product to port of loading
d. New copy charter party agreements to transport the product to discharge port
e. NEW Bill of Lading to buyer destination port
f. Allocation passport certificate issued by ministry of solid minerals and natural
resources
g. DTA & ATB

8. Buyer takes over vessel as vessel sails to buyer’s destination port and buyer can
also board the vessel in the high sea. / vessel to storage buyer’s in Singapore but
all cost good transportation cost , loading and unloading at the port is borne
by the buyer
9. Upon confirmation of the vessel at buyers port, seller shall give buyer maximum
of 2 working days to as attain Q&Q and make payment for full product at buyer
destination port via TT (after cargo discharged at discharging port).

DUTIESAND TAXES: The buyer shall be responsible for all duties and taxes levied on cargo by the
authorities of the country of discharge during discharge. Title shall pass from seller
to buyer With the complete discharge of cargo is made to the buyer.

APPLICABLE LAW: Any dispute arising during the execution of this contract shall be settled amicably.
If parties fail to do so, they shall accept as final the decision of the court of arbitration
of the international Chamber of Commerce, Swiss Law to apply. Ex-Parte
proceedings are to be continued in English and shall be settled by arbitration in
accordance with the laws of Russia, Switzerland and/or England as the case may be.
Upon signing of this contract by both parties, the seller shall issue the current bill of
laden which will enable buyer locate and confirm the product on the vessel in
DELIVERY PROCESS position in black sea and within 24 hours of the receipt of the current BL & PPOP,
buyer shall official request for invoice within 24 hours of receiving the PPOP to
make the payment for Re-routing of the vessel/cargo which the Re-routing
payment will be made directly to the shipping company agent in Taiwan or Turkey,
nominated by the shipping company and upon confirmation of the receipt of the Re-

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 routing charges paid by buyer/buyer’s financier, the buyer will be issued FULL
PROOF OF PRODUCT including DTA (dip test authorization) & ATB (Authority
to board) via bank to bank, when vessel/cargo arrives buyer’s destination port . Upon
confirmation of the product quantity and quality (Q &Q), seller shall give buyer
maximum of 2 maximum working days to as attain Q&Q and make payment for full
product at buyer destination port via TT. Before unloading.
SHIPPING CHARTER
BAREBOAT CHARTER is the kind of charter that was agreed upon between the seller and
the shipping company for security reasons.
BAREBOAT CHARTER is: A bareboat charter is an arrangement for the chartering or
hiring of a ship or boat, whereby no crew or provisions are included as part of the agreement;
instead, the people who rent the vessel from the owner are responsible for taking care of
such things.

FORCE MAJEURE: Neither party to this agreement shall be responsible for breach of contract caused by
acts of GOD, insurrection, and breakdown of refinery operations or supplies to the
seller, civil war, military operations, and national or local emergencies. The parties
hereby accept the

NON The parties irrevocably agree not to circumvent, avoid, or by-pass any of the brokers
CIRCUMVENTURE directly or indirectly, to avoid payment of fees or commissions in any traction
AND NON between the parties, involving any product or services, any addition, renewal,
DISCLOSURE: extensions, rollover, amendments, renegotiations, new contracts or third party
assignments thereof. The parties do hereby accept and agree to fulfill all obligations
due to the brokers and intermediaries throughout the duration of this contract and
subsequent transactions, renewals, rollovers and extensions without variation or
modification of the same.

In the event of direct or indirect circumvention through a third party, the

circumvented broker shall be entitled to a legal monetary award equal to the
maximum service fees he should have realized from the transaction together with all
legal expenses incurred in the recovery of the funds, including but not limited to
attorney fees, cost and disbursement as permitted by law and statuary interest
thereon. The parties hereby agree that this contract and its content are confidential
and shall be treated as such. Neither party shall disclose any information with
regards to this contract to any third party unless necessary for the successful
completion of this transaction, save as necessary within the law so to do.

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LANGUAGE AND The terms and conditions of this contract are accepted and binding on all parties to
SIGNING: this contract. The parties confirm that each has read and understood the terms and
conditions as written. If any term and condition of this contract be held by a court
of competent jurisdiction to be invalid, void or unenforceable, the rest of the contract
shall remain in full force and effect and shall in no way be affected, impaired and
invalidated. Both parties having understood all the terms and conditions of the sales
and purchase agreement hereby agree to honor all clauses with all privileges, rights
and immunities pertaining herein, making this agreement effective on the date of
signing by all parties and is executed in multiple copies to the parties hereto
represented, each of which is equally affective.

DELCARATION: The undersigned declare that the foregoing instrument fully sets forth the entire
agreement between the parties and that the signatories below have been fully and
dully authorized to enter and bind each representative company to the contract.

PENALTY/SANCTIONS If seller and shipping company fails to deliver product to buyer to after buyer has
made total payment for Re-routing of the vessel, which enables vessel sail to buyer's
destination port, seller/shipping company will refund 3 times of what buyer has
paid for re-routing, the vessel and any other damage that must have happened in
buyer's side, seller shall be totally responsible to buyers claims.

But if buyer fails to pay for the product after deep test 2 days after Q & Q, buyer
shall pay for all demurrages at discharge port and if finally defaults in paying for
the product, seller has legal rights to present both buyer and this contract in the
ICC.

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BANKING DETAILS
SELLER’S INFORMATION :
THE SELLER: OLEUM SULTAN PTE. LTD
CONTACT PERSON: : +628111098789
TITLE: CEO
COMPANY ADDRESS: 8 WILKIE ROAD #03-01 WILKIE EDGE SINGAPORE
REGISTRATION NUMBER: 201722868W
PHONE NUMBER: +62 81270098789
FAX NUMBER: 228095
MOBILE/WA: +31684312073
E-MAIL: dedi@oleumsultan.com.sg

BUYER'S INFORMATION:

THE BUYER:
CONTACT PERSON:
TITLE: PRESIDENT DIRECTOR
COMPANY ADDRESS:
REGISTRATION NUMBER:
PHONE NUMBER:
FAX NUMBER:
MOBILE/WA:
E-MAIL:

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BUYER BANK INFORMATION:

BANK NAME:
BANK ADDRESS:
BANK ACCOUNT NAME:
ACCOUNT NUMBER:
SWIFT CODE:
ACCOUNT SIGNATORY NAME:
BANK OFFICER NAME:
BANK OFFICER EMAIL:
BANK TELPHONE / FAX:

SELLER BANK INFORMATION:

BANK NAME: MAYBANK SINGAPORE LIMITED

BANK ADDRESS: 2 BATTERY ROAD, MAYBANK TOWER, SINGAPORE 049907
BANK ACCOUNT NAME: OLEUM SULTAN PTE LTD
ACCOUNT NUMBER: 64-01252512-3
SWIFT CODE: MBBESGS2
ACCOUNT SIGNATORY NAME: DEDI PURMANA
BANK OFFICER NAME: GERARD NG
BANK OFFICER EMAIL: gerardng@maybank.com.sg
BANK TELPHONE / FAX: +65 9437 2982

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IN WITNESS WHEREOF the parties have executed this agreement under the hand of their duly authorized officers as
witnessed below.

This Agreement is made this May 26th day of 2019

On behalf of SELLER
Name: OLEUM SULTAN PTE LTD
SEAL/STAMP OF SELLER

Title: CEO : Dedi Purmana

10th /06/ 2019

Date:
The BUYERS (PARTY B)
SEAL/STAMP OF BUYER

Name: Mr.Tony Loh

Title: President Director

Date: 11th of June 2019

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Specification of D2 GAS OIL GOST 305 – 82
COMPONENT UNIT MIN MAX
Density@20 deg C Kg / m3 0.82 0.85
Color 2.0
Flash Point PMCC Deg C 62 67
Kinematic Viscosity @ 20 deg C CST 3.0 6.0
Pour Point (*) - 10.0
Cloud Point (*) -5.0
Mercaptan Sulphur 0.01
Acidity, mg / 1000 cm3 5
Iodine Number g / 100g 6
Ash % wt 0.01
Total Sulphur % wt 0.02 0.05
Copper Corrosion (3hrs @ 50 deg C 1A
CCR on 10% residues % wt 0.20
Cetane Index 45
Distillation range
50% Recovered Volume 280
90% Recovered Volume 360
Bacteria MBC Fibre / lt 500
Bacteria CFU Fibre / lt 1000

Summer from March to October (PP - 5.0 degrees C)

Summer from March to October (CP - 0.0 degrees C)
Winter from November to February (PP - 10.0 degrees C)

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BUYER AUTHORIZE SIGN & DATE: SELLER AUTHORIZE SIGN & DATE:
Company: OLEUM SULTAN PTE LTD

Name : Tony Loh Name: Dedi Purmana

Title : President Director Title: CEO
Date: 11.06.2019 Date:10.06.2019

END OF CONTRACT

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