BOARD RESOLUTION

A regular meeting of the Board of Directors of the Corporation was held on

_______________ at its principal office located at the _________________________, where
a quorum was present all throughout said meeting. During the said meeting, on motion duly
made and seconded, the following resolution was approved and adopted:

RESOLUTION NO. _____; _________

RESOLVED, AS IT IS HEREBY RESOLVED that the Board has

approved, for the purpose obtaining a credit line facility with Seaoil Philippines,
Inc. in the total amount of _________________________ such facility shall be
covered through the execution of a/an ______________ Agreement;

RESOLVED FURTHER, that any two (2) of the following officers be

authorized, for and in behalf of the Corporation, to inquire prices of fuel and
lubricants products, including the placement and/or cancelation of such order
thereof:

Name Position Specimen Signature

1. _________________
2. _________________
3. _________________
4. _________________

RESOLVED FINALLY, that any two (2) of the above-named officers,

shall be authorized to sign, execute for and in behalf of the Corporation, any
document to effect the foregoing resolutions, except for the ______________
Agreement which shall be signed by the ______________, ______________.

APPROVED AND SIGNED by the Members of the Board of Directors, this _____
day of _________20_____, in __________________.

_____________________ _____________________

_____________________ _____________________