ORAL AGREEMENT BETWEEN DYNAMIC HYDROCARBONS LTD. AND RON PETRUCCI
BETWEEN
AND
XXX XXXXXXXX
RE: Working Capital Funding
Reference Date: 12 February 2010
Reference Points:
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(a)
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Xxx Xxxxxxxx has lent an amount of $9,250 to Dynamic Hydrocarbons (“Dynamic”) for the purpose of providing operating capital prior to Dynamic’s S-1 registration statement becoming effective (“Offering”);
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(b)
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This $9,250 is non-interest bearing, and is expected to be re-paid upon Dynamic raising a minimum of $25,000 under its Offering unless otherwise agreed;
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(c)
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If Dynamic requires additional amounts, Xxx Xxxxxxxx will lend up to an additional $10,000, which amounts lent shall be repayable on a one year term bearing interest at 10%/year.
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