Oil Equipment Maintenance Contract between Jidong Oilfield Equipment Co., Ltd and Beijing Yabeinuoda Technology Development Co., Ltd.
Jidong, Tangshang City, Oilfield Equipment Co., Ltd and Beijing Yabeinuoda Technology Development Co., Ltd entered into a contract on March 19, 2008, for the maintenance of a single oil-well controller. The contract price is RMB 600,000, and the agreement is renewed annually. As of the summary date, the payment for 2008 has not yet been collected.
Exhibit 10.40
Summary of Translation of the
Oil Equipment Maintenance Contract, by and between Jidong, Tangshang City, Oilfield
Equipment Co., Ltd and Beijing Yabeinuoda Technology Development Co., Ltd.
On March 19, 2008, Jidong, Tangshang City, Oilfield Equipment Co. Ltd entered into an Oil Equipment Maintenance Contract with Beijing Yabeeinuoda Technology Development Co., Ltd for maintenance of a single oil-well controller. The contract price for the maintenance was RMB 600,000. This contract is renewed yearly and the 2008 payment has not yet been collected.
