Loan Agreement
between
Xxxxxx Xxxxxxxx
Xxxxxxxxxxxxxxxxx 0
00000
Xxxxxxxxxxx
as the lender
and
EDI Exploration Drilling International GmbH
represented by
the managing director,
Xxxxxx Xxxxxxxx Xxxxxxxxxxxxx 00
00000 Xxxxxxx am
See
as the borrower
| 1. |
The lender grants the borrower a loan in the amount of Euro 10,000 with a term of 6 months. Each extension by an additional 3 months has to be negotiated separately. | |
| 2. |
The loan will be transferred by 07/02/2007 into the account at the |
Volksbank Haltern
Branch code 426
613 30
Account 199 188 900
| 3. |
The interest on the loan will be 6%. The interest will be credited to the lender at the end of the quarter, on 30/06/2007. | |
| 4. |
Either party may recall the loan, for the first time on 30/06/2007. |
Haltern, 02/02/2007
| Borrower Signature | Lender |
| EDI Exploration Drilling International GmbH | Xxxxxx Xxxxxxxx |
