Minutes of Meetings April 3/2012

Attendees : Mr. Ziad :T.O. Mr. Ahmad Badran: MEES Offshore Mr. Nawar Eido : ACCROPOD.

Subject: T.O. Iraq registration ACCROPOD OFFSHORE registration Contract TO-MEES-AC Planning review.

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Documents for Tomas De Oliveira. to be assured by 5/4/2012 Tomas De Oliveira agree to pay the registration fees and expenses for its representation office in Iraq; the above mentioned fees will be paid by MEES offshore and ACCROPOD OFFSHORE and will be deducted from the percentage of Tomas De Oliveira Khalil to sign ACCROPOD OFFSHORE and reserve name Tomas De Oliveira to issue performance letter for Mr. khalil to issue Performance Bond for the benefit of Tomas De Oliveira Contract between T.O- MEES- AC to be received and finalized by 4/4/2012 and signed from T.O by 7/4/2012 Planning to be submitted finalized by 14/4/2012 General resources schedule to be prepared by 6/4/2012. Material break down schedule to be submitted by 5/4/2012 Pipeline information to be set between all parties via Tomas De Oliveira emails. Correspondence between client, and T.O. to be though: MEES OFFSHORE and ACCROPOD OFFSHORE and cc to T.O. Powers to be shipped to the site by a shipment company after technical clearance from Mr. Nawar and financial clearance from Mr. Khalil to provide.

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12- Add appendix to the contract assigning Nawar and Ahmad providing authorization related to the project from the board of . 13- Schedule of Tomas De Oliveira engineering services 14- Logo, Stickers, flags to be provided by Tomas De Oliveira

To whom it may concern

We Tomas de Olivera Empreteirios S.A here by declare that we approve that Issue the performance bond in the value of .U.S.D related to the Good Execution of Sulaimaniyah International Cargo village in Sulaimaniyah- Iraq in our name, for the benefit of GulfMar Limited Company.

Breakdown of Initial Mobilization costs

1- Housing 900$ x 12 = 10800 $ (MEP) 2- Housing 1200$ x 12 = 14400 (civil) 3- Prefab House: 270$ to 300$/m2 according to relative percentage 4- Driver 700$/ to 4 pm 5- Company cars 55000$/50% each 6- Total station 7- Furniture 20000$