GLOBAL AJM LTD

4 Copthall House, Station Square

addressed by Mastroianni & Partners International Law Firm
00124 Rome, Italy tel.& fax +39.06.50933145
To: LNG End Seller-Producer
PDVSA GAS COMMERCIAL DIVISION
CARACAS VENEZUELA

VIA Mr Erick Estrada

Facilitator Mr. Francesco Bonavena

LETTER OF INTENT

We, GLOBAL AJM LTD , in person of our Director Dr. Antonio Mastroianni,(annex 1)
acting on behalf of our end buyer MATER LNG S.A., in our quality of buyer s mandate
(annex 2) and with full corporate responsibility under the penalty of perjury, do hereby
confirm that we are ready, willing and able to buy the following commodity under the terms
and conditions hereto stated:

COMMODITY: LNG LIQUEFIED NATURAL GAS

Specifications & Quality According to Standards North American Industrial`s norms for
LNG as follow:

Minimum (A) Methane (CH4) 93 Mol%

Maximum (B) Nitrogen (N2), 1.0 mo 1%.
Maximum (C) Ethane (C2), 7.0 mol%
Maximum (D) Propane (C3), 2.75 mol%
Maximum (E) Isobutane (C4), 0.47 mol%
Maximum (F) Normal butane (C4), 0.64 mol%
Maximum (G) Pentanes (C5) and heavier, 0.10 mol%
Maximum (H) Hydrogen sulphide (H2S), 0.0004 mol%
Maximum (I) Mercaptan Sulphur, 2.0 mgfNm3
Maximum (J) Total sulphur content, 30 mg/Nm3
Maximum (K) Carbon Dioxide(C02), 0-01 M01%
Maximum (L) Oxygen(02), 0.2 mol%

UNIT OF MEASURE: Metric ton, 1 MT = 1.000 kgs.= 2,45 liquefied cubic meters

QUANTITY: FROM 2,000,000 MT (Two Millions) UP TO 10 MILLIONS PER MONTH

FOR 25 YEARS WITH AUTOMATIC ROLL OVER AND EXTENSIONS.

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 GLOBAL AJM LTD
4 Copthall House, Station Square
addressed by Mastroianni & Partners International Law Firm
00124 Rome, Italy tel.& fax +39.06.50933145

DESTINATION : PACIFIC OCEAN CHILEAN PORTS (Bahia de Mejillones

and Bahia de Quinteros) and other Atlantic Ports in BRAZIL and
ARGENTINA. The buyer has his own necessary liquefaction facilities in Chile
with Regasifi-cation Terminal, connected with public pipelines and storages.

LICENSE: Chile s Laws From 1999 -2000 Hallows To Everybody To

Import Energy Products Without Any Special License Of Importation. See
Annex 3

INCOTERMS: Cost Insurance and Freight (C.I.F.) South American Ports.

ORIGIN: Venezuela

SHIPS: standard LNGC of 62,000 metric tons and LNGC of 125,000 metric tons each one for
the Chilean Ports, standard LNGC of 250.000 or 500.000 metric tons each one for the Atlantic
Ports.

DELIVERY SCHEDULE: to be confirmed by seller and buyer in annexed to contract

including name of the shipping company and names of the ships involved. Please send the
technical specifications of each ship to obtain the permission to enter and to download from each
Port Authority.

SHIPMENT S METHOD: Criogenized In Bulk

PAYMENT TERMS: By Irrevocable, Confirmed, Automatically Revolving Documentary

Letter Of Credit Covering One By One Delivery Month, Payable 100 % At Sight, Issued By One
Of The Top Five World Banks.

INSPECTION: by S.G.S. in loading port at seller`s cost only and by S.G.S. in discharging port
at buyer`s cost only.

CONTRACT DURATION: Twenty-five Years With Automatically Rolls & Extensions.

FEW BANKING DETAILS :

1)FIRST BANK:
BANK NAME : CORPBANCA S.A.
ADDRESS : Huerfanos Street n°1072
CITY : Santiago (Chile), Region Metropolitana
ABA : 026009593.021000021.026005092
globalexchange_llc@yahoo.com or globalajm_ltd@yahoo.co.uk
 GLOBAL AJM LTD
4 Copthall House, Station Square
addressed by Mastroianni & Partners International Law Firm
00124 Rome, Italy tel.& fax +39.06.50933145
SWIFT : CONBCLRM
BANK OFFICER : Mr. Daniel Hernandez Melendez
E-MAIL : daniel.hernandez@corpbanca.cl
PHONE NO. : +562.687.8324
FAX NO. : +562.687.8356
ACCOUNT NAME : Mater LNG s.a.

2)SECOND BANK:
BANK NAME: BANCO CREDITO E INVERSIONES
ADDRESS: HUERFANOS 1134, SANTIAGO CENTRO, RM
COUNTRY: CHILE
SWIFT CODE: CREDCLRM
BANK OFFICERS: MR. JUAN CLAUDIO BOBADILLA,
E-MAIL: jbobadilla@bci.cl
MR. RODRIGO GUERRERO,
E-MAIL: rguerrero@bci.cl
PHONE: +562.720.4202
FAX NO: +562.383.5785
ACCOUNT NAME : Mater LNG s.a.

EVERY BANKING OPERATION WILL BE CONFIRMED AND ASSISTED BY A

TRIPLE A BANK RANKED INTO THE TOP FIVE WORLD BANK.

SOFT PROBE PERMISSION

Upon PDVSA GAS soft-offer sending, a soft-probe permission is given this way: Prime
seller will communicate to Buyer and to Buyer s mandate in a written way which bank
officer of some prime seller s bank in which day at what time shall contact one of the two
banks of the buyer, considering the time differences.

PLEASE ADDRESS YOUR FCO TO MATER LNG S.A., ATTENTION TO ITS

MANAGING DIRECTOR, M R. JOSE ERNESTO PUIG VALDERRAMA.

Truly Yours.
Rome, October 6 2008

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 GLOBAL AJM LTD
4 Copthall House, Station Square
addressed by Mastroianni & Partners International Law Firm
00124 Rome, Italy tel.& fax +39.06.50933145

Annex 1

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 GLOBAL AJM LTD
4 Copthall House, Station Square
addressed by Mastroianni & Partners International Law Firm
00124 Rome, Italy tel.& fax +39.06.50933145

To: Global AJM Ltd

To: Mastroianni & Partners International Law Firm
Attention to: Barrister Antonio Mastroianni

Re: Letter of appointment as buyer s mandate

We, undersigned Mater Lng s.a., in person of our managing director Jose Ernesto Puig
Valderrama, regarding our irrevocable intent to buy up to 10.000.000 metric tons per month
for 25 years of Liquefied Natural Gas from one of the major gas producing companies of the
world, here confer the mandate to buy and to represent us in the talks with the final gas
producer-seller up to the final table top meeting to the following subject:
no. AA0965686, issued 19th March 2007, expiring 18th March 2017. This mandate has all the
powers to treat the purchase of this product by a LNG producers only from the Letter of intent
up to the final draft contract. This mandate will last the 31st December 2033.

Sincerely

Santiago, 13th February 2008

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