Joint Venture

合資公司

Executive Summary

執行摘要执行摘要

合资企业

内容

Content

关于该项目.............. ...................... 2

合营企业的结构 ...... ...................... 3

公司概况 .................... ................... 4

企业的战略机遇 .... .. .............. 5

市场营销..................... ..................... 6

投资............................ ................... ..7

投资回报率................. ..................... 7

退出策略.................. .........................7

石油工作原理.......... ...........8

管理团队.................. .........................9

世界石油展望............ ......................10

联系....................... .........................11

Project................................................2

Joint Venture Structure.....................3

Company Profiles..............................4

Corporate Strategic Opportunity......5

Marketing............................................6

Investment..........................................7

ROI.......................................................7

Exit Strategy........................................7

Technology..........................................8

Management Team.............................9

World Oil Outlook.............................10

Contact..............................................11

1

关于该项目

Project

环球绿色能源有限公司向中国石油天燃气股份有限公司（以下简称中石油）提出了建立一家合资公司的意向，由环球绿色能源有限公司负责管理以及提供技术。该合资公司的业务将包括勘探以及开采现有的至少10处已探明但未开发的油井。目前，已钻井总数为255口（其中196口井已经在运做，59口井为漏水井）。除了已签署的对井的权利之外，该合资公司还会和中石油签署一个为整个油井开发而服务的附属协议，即中石油将享有在10年后回购联合经营的权利。这个回购是基于整个公司的50%的利润上决定的。中石油作为一个国有企业，他拥有对油田和石油产品的使用权。收购后，环球绿色能源有限公司将拥有50%的股份，包括石油制品、其他开采设备以及相关产品生产设备。吉林油田位于中国吉林省松辽平原，目前已探明的储油量为大约2000平方千米。吉林油田是

1950年后继大庆油田后石油储藏量最大的油田，是中国大地上的一颗明珠。中石油作为中国石油集团的附属企业，是本次合资公司里提供50%股份资产的合作伙伴，也是目前全球最大的石油及天然气的生产公司。

TGER has proposed to PetroChina to establish a Joint Venture Company whereby TGER will be the managing and technology partner of the Joint Venture (JV) with PetroChina Company Limited. TGER will not be purchasing any of the producing assets owned by PetroChina. Instead, the Joint Venture involves the “farmout” and assignment by PetroChina of proved producing reserves with a development plan of at least 10 proved undeveloped locations. A total of 255 wells have been drilled (196 wells are producing wells - 59 wells are water-injection wells). In accordance with currently existing Production Sharing Contracts (PSC) established for Joint Ventures with Foreign Companies and whereby the PSC is the established agreement which serves to control the assets’ development, PetroChina Company Limited has an option to purchase back interests after 10 years (on average) of Joint Operations. This “buy back” is set at the net asset value of the Joint Venture’s 50% interest as determined at that time. PetroChina Company Limited as an SOE (State Owned Entity) owns the land and purchases all the oil produced from the field. Upon acquisition, TGER’s 50% Working Interest would include all oil production, equipment and facilities associated with the production of oil in the oil field, but not the producing oil wells.

The asset is located in the Songliao Basin - specifically in Jilin Oilfield - Jilin Province, PR China. Jilin Province is located in northeast China. The proposed acreage covers approximately 2,000 sq/km. PetroChina Company Limited, a subsidiary of China National Petroleum Corporation (CNPC), is the 50% partner in this asset offering. PetroChina Company Limited is the largest oil and gas company in the world in terms of total revenue and assets. Jilin Oil Field is contiguous to Daqing Oil Field - which has been China’s crown jewel as the most prolific oil field in China since the 1950's.

2

合营企业的结构

Joint Venture Structure

环球绿色能源有限公司（“TGER”）愿提出以下建议供你方考虑。正如之前所提到的，TGER将与中国石油天然气股份有限公司一起，对合资公司在吉林油田的石油和天然气资产的购买与运作上各持有50%的股份。然而对投资者的收盘价格将为5200万美元左右。TGER预计，对于财产权益的购置价格将大约达到5000万美元，其中TGER将会用所增长的200万美元作为启动资金。此项交易也将提取180万美元作为2013年填补10口新钻井的花费，目的为了使其进入其他领域并提高生产。每年980，000美元的预算将用于提升现有井筒。因此近期来看，投资者将和TGER投资5180万美元与中石油一起致力于该合作项目的发展。TGER将持有在合资公司里50%的利息并将与投资者签署一项专門针对投资者所有权利息的合同协议。TGER将在合资公司里向投资者提供45%的利息，另外的5%将分配给帮助完成这个交易业务的其他个人作为业务介绍费。

TerraGreen Energy Resources (“TGER”) would like to make the following proposal for your consideration. As mentioned previously, TGER is about to enter into a 50/50 Joint Venture with PetroChina Company Limited (“PetroChina”) to manage certain oil and gas assets located in Jilin Oilfield. The closing price for the investor will be approximately $52 million USD. TGER anticipates the acquisition price for the working interest may be around $50 million USD.

The deal will also include a cash draw of $1.8 million USD to cover the cost of drilling 10 new wells ($3.6 million USD 8/8th) in the field in 2013 to access additional areas and to increase production. There is an annual budget of $980,000 to enhance existing well bores. Therefore at close, the investor would invest $51.8 million USD with TGER which will allow TGER to enter into a Joint Venture with PetroChina. TGER will be the holder of 50% working interest in the Joint Venture. TGER has the expertise to justify PetroChina agreeing to this co-operation Joint Venture.

TGER and the investor will enter to a contractual agreement that will specifically provide for the investor’s interest in the Joint Venture. TGER will offer to investor 45% working interest in the Joint Venture Company. The other 5% will be distributed to other individuals who have helped to complete this transaction as finder’s fees for bringing this project to TGER.

3

公司简介

Company Profiles

中国石油天然气有限公司（中石油）是中国最大的生产商和批发商，在中国的石油和天然气产业中发挥了主动性的作用。它不仅是中国销售收入最大的公司之一，同时也是世界最大的石油公司之一。1999年11月5日，中石油在中国石油天然气集团公司的基础上，以股份制形式，根据“公司法”和境外募集及上市方式建立。

环球绿色能源有限公司于2009年5月5日建立，总部设在科罗拉多州格林伍德村，注册EIN为：20-091261923，是一家综合的、环保的能源管理公司。该公司致力于所有段的（上、中、下游）石油和天然气项目服务，并旨在提供一个高质量的，财力综合的，可运营的技术管理办法和能源投资。环球绿色能源有限公司（TGER）属于有限责任公司，拥有在美国、中国开展业务的所有必要许可证件，在全球范围内经营的审批程序正在进行。

PetroChina Company Limited (“PetroChina”) is the largest oil and gas producer and distributor, playing a dominant role in the oil and gas industry in China. It is not only one of the companies with the biggest sales revenue in China, but also one of the largest oil companies in the world. PetroChina was established as a joint stock company with limited liabilities by China National Petroleum Corporation under the Company Law and the Special Regulations on the Overseas Offering and Listing of Shares by Joint Stock Limited Companies on November 5th, 1999.

TerraGreen Energy Resources, LLC (“TGER”) is an integrated and environmentally conscious energy management company incorporated on May 5, 2009, and headquartered in Greenwood Village, Colorado. The company is registered in the state of Colorado under the EIN: 20-091261923.

TGER focuses its services on all segments (up, mid and downstream) of the oil and gas industry to deliver a high-quality acquisition program supplemented with integrated financial, operational, and technical management of acquired assets and energy investment projects.

TGER is classified as a Limited Liability Corporation. The company currently holds all necessary licenses to conduct business in the United States, China and has approval processes pending for operations on a global basis.

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企业的战略机遇

Corporate Strategic Opportunity

能有机会与中石油直接合作，对于绿色环球能源有限公司的合伙人以及投资家来说是个巨大的财富。跨国企业合作，虽然有中国中央政府的支持，但并不是很容易就能促成的，需要与对方建立很多年关系才能从意向、洽谈最后走到实施。就吉林油田项目而言，我们稳定扎实的业务和提高生产领域的技术发展规划，不仅能保留我们现有的72名员工，并且还能创造至少10-15个领域服务工作岗位。这与绿色环球能源有限公司在中国的品牌定位有关。如果没有丰富的经验和技术与另外一家有条件的公司出现，那么我们将会失去这些工作岗位。这表明，否认合作一体化的潜能是不可取的。我们知道，合作一体化能间接地提升产品和加大盈利，这对我们的合伙人是个好消息，这一策略对于中石油也很有利。我们的技术和方法已经被中石油充分认知，被视为对在吉林油田的其他资产的一种充分利用。对于环球绿色能源公司而言，就业机会不仅在中国被创造，在国外的就业机会也被创造了。技术共享机会是一个不可避免的事实和进程，这也为吉林地区带来更好的发展。

环球绿色能源公司战略上旨在与中国石油天然气有限公司进行全面合作，这一战略合作与环球绿色能源公司运营管理政策是相吻合的，它必须被精确的执行和完美的控制成本，进而达到控制风险，增加净收入，以及产率和利润的效果。

The chance to work directly with CNPC-PetroChina Company Limited is a tremendous asset to TGER and its financiers / partners. Foreign company cooperation, although supported by the Chinese Central Government, is not easily attained and requires years of relationship building to move forward to execution. In relation to the Jilin Oil Field Project, our operations and technology development plan to stabilize and enhance production of the field calls for the possibility to retain all 72 current employees and potentially create the conditions for at least 10-15 more field service positions on location and in back office operations. Key to TGER’s brand perception in China by PetroChina Company Limited, these positions would otherwise be lost if another partner would come into the field - one without the experience and technical methodology / application process. It would not be truthful to indicate that there would not be potential for streamlining, however, as we see it, any streamlining would only occur indirectly to increase production and hence profitability. Welcome news to our financial partners. This strategy is also deemed to be very favorable with CNPC-PetroChina Company Limited. Our technology, methodology and approach have been identified by CNPC-PetroChina Company Limited as one which can be leveraged, where applicable, to other assets located in Jilin Oil Field.

Not only will jobs be created for the Chinese, but jobs for westerners will be created as well as they are directly related to TGER; the opportunity for technology share is an inevitable fact and process, which again lends itself to the betterment and development of the region Jilin.

TGER is strategically positioned to leverage its opportunity with CNPC-PetroChina Company Limited in all aspects of both the Jilin Oil Field Project. The corporate strategic opportunity of this project dovetails directly with TGER’s policy of operations management - it must be executed flawlessly with disciplined cost management and a laser-like focus on operational excellence to increase reserves, production rates, and profits.

5

市场营销

Marketing

根据现有合同，中石油已经开始进行石油销售工作。中石油现在有意向将吉林油田的石油及石油产品进行销售和运输。自协议签署开始起，他对吉林油田的石油拥有权就已生效，但任何在运输过程中出现的问题将由中石油和承运商负责。

在2011年，随着石油产品需求的激增，中石油采取了多方面的措施，来扩充他们石油的储备、提高石油运输及开采的能力。同时也拓展了他们的零售业，尤其是在汽油方面零售的能力。最终，他们的零售量已经达到了8565万吨，比同期增长了19.7%。他们的市场占有率仍保持在45%左右，并且他们的储油量还在同步稳定的增长，实现了量效齐增。中石油目前仍是中国最大的石油生产及输出商，同时他们也在进一步的开发沥青这类产品的市场，并且仍然定期有效地推出非油来提高他们的利益。公司也在不断致力于他们市场网点的扩大，截止到目前，已经建成服务站1330个，同时南沙群岛和珠海海盐的勘探点将会投入使用，从而进一步提高南方的市场占有。

Oil is presently sold under an existing contract with PetroChina Corporation. PetroChina has submitted in writing their intent to continue to purchase and transport any oil production from the Jilin Oil Field. Ownership of oil is transferred at the point of pick-up. All liability incurred during transport is the sole responsibility of the PetroChina or their transporter.

In 2011, for marketing of refined products, PetroChina took multiple actions to collect the resources, strengthen the organization of allocation and transportation, and extended the retails, especially gasoline. Finally, the retails reached 85.65 million tons, representing an increase of 19.7%; the market share remained at about 45%, and both quantity and benefits were increased. The Company consolidated its position in China as the largest producer and supplier of fuel oil and bitumen, continuously optimized the market layout of lubricant oil, regularly and effective carried out the non-oil operations, and enhanced the overall profitability. The Company made more efforts in development of marketing network. In the year, 1,330 service stations were added, and the oil depots in Nansha and Zhuhai were completed and put into service, improving the Company’s control over efficient market in southern China.

6

投资

Investment

为了更有效地开展中石油合资企业工作，合资工作要求52000000美元的投资，此项投资是为了确保投资者在合资公司享有45%的股权。此项项目拥有收益风险但没有资本风险，主要是由于持续生产和探明储量的重要部分，被用于确保资本及与中国石油的全额保证性收购。

In order to effectively launch the PetroChina Joint Venture, the Joint Venture calls for an investment of $52,000,000 which would secure the investor 45% equity in the Joint Venture. This project has yield risk and no capital risk due to the significant portion of ongoing production and proved producing reserves being used to secure the asset as well as the guaranteed purchase agreements with PetroChina.

7

ROI

投资回报率

TGER will be in a strong position to launch an IPO within the next three years. Alternatively, it is feasible that the Chinese assets company may be acquired by a major SOE in China, such as PetroChina Company Limited,

Exit Strategy

环球绿色能源公司将在未来三年内首次强势公开募股，中国资产公司可能被中国大型国有企业收购，如中石油。

退出策略

The table below shows the project rate of return based on the Proved Reserve forecast at $100 per barrel and also at $110 per barrel. It is worth noting that PetroChina historically pays its Joint Venture Partners based upon Brent/WTI oil per bbl prices. PetroChina paid an average price of $109 per barrel in 2012. The potential for higher prices is real and prices of $115 per barrel are very possible if not likely. Also included in the table is the potential upside from Probable Reserves. The use of the hydrojetting technology to turn vertical wells into horizontal wells and based on the significant number of opportunities available for this technology, it would appear very reasonable to believe that the rate of return for this project will be greater than 20% from a combination of higher prices and enhanced production from the application of horizontal drilling.

下表显示了该项目在已探明储量中预计为每桶100美元和110美元的回报率，值得一提的是，中国石油对他的合资伙伴是根据Brent/WTI每桶的价格来决定的。在2012年，中石油支付额平均为每109美元一桶，高价的潜在性是真实的，每115美元一桶的价格很有可能。表中还包括了可能储藏量的潜在上升空间。Hydrojetting技术在从垂直水井转向水平井的大量应用，较高的价格组合及产品生产率，我们有理由相信这个项目的回报率将能够大于20%。

石油工作原理

Technology

Hydrojet在完善的作业中，Hydrojetting这种技术可以实现¾®Í²Í¨ÐÅ进而提高产量。 大多数有油井，都是通过fracture 刺激来加强。该方法将在更多油田中得到应用从而加强 及提高产量。此理念跟horizontal drilling相似，但是没有直接工具和drilling rig。在¼ªÁÖ油田，Hydrojetting这项新钻井技术已经在6个油井中得到使用，并成功增加了。 比较单口竖井而言，这一过程成功的原因是在水平方向上扩大了表面的流动和接触了更多的构造面。

Hydrojetting for improved completions will allow enhanced wellbore communication with the formation to improve production. Most of the wells producing in this field are fracture stimulated to improve wellbore communication. This method of production will enhance the wellbore communication and improve production in many of the wells in this field. This method is similar to horizontal drilling, but without the expense of the directional tools and drilling rig. Hydrojetting has been performed on 6 wells in Jilin Oil Field in 2011 with an average increase in production from 0.8 tons/day (6 bopd) to 2.5 tons/day (18 bopd), 3.1x. This process works by enlarging the surface area to flow and contacting more formation in the horizontal direction than can be contacted by a single vertical well.

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噴水

管理团队

Management Team

布雷特·康宁汉 先生——董事总经理，总裁公司运作和财政经理，拥有25年业务经验。工作背景包括公司管理、业务谈判及运

作、投资者关系和业务分析。康宁汉先生具有发展和培养公司的实践知识，对大型项目具有专业融资理念。

加里·沃德 先生——董事总经理，中国区经理沃德先生拥有25年在石油产业的工作经验，工作重点一直放在美国地区的石油和天然

气的资产评估上，其中在中国地区拥有8年的资产评估经验。沃德先生自1986年以来一直为Royd石油公司主管技术评估和石油市场销售工作，直到1999年公司出售其资产并成功购买超过200万美元石油和天然气所有权。

保罗·亚当斯先生——董事总经理，全球项目投资和财务自1992年起，亚当斯先生在资本市场已拥有20年的工作经验。其中8年作为股票经济人并担任私人股权投资顾问的职务。他所进行的资本筹资的杰出人物包括获奖的情景戏剧《Frensh Prince of Bel Air and Family Ties》的导演和编剧Darryl Quarles，在CIS地区的私募股权活动的迪拜资本集团前管理主任Richard Waryn和E！娱乐的共同创立者Larry Namer。

Mr. Brett Cunningham - Managing Director, President

A corporate operations and finance executive with 25 years of business experience. His background includes management, negotiations, operations, investor relations, and business analysis. Mr. Cunningham has practical knowledge of developing and growing companies and has developed specialized financing concepts for large projects.

Mr. Garry Ward - Managing Director, China Country Manager

His career spans 25 years in the petroleum industry, where his primary focus has been on the evaluation of oil and gas properties throughout the United States and includes eight years in China. Mr. Ward was in charge of all technical evaluations and gas marketing for Floyd Oil Company from 1986 until the company sold its assets in 1999 and successfully purchased over USD 200 million in oil and gas properties.

Mr. Paul Adams - Managing Director, Global Project Investments and Finance

His involvement in capital markets spans 20 years. It began in 1992 with an eight year assignment as a stockbroker, and was followed by a consultancy career in private equity investments. Some of the luminaries for whom he has conducted capital raises include Darryl Quarles, award winning director and script writer of the sitcoms Fresh Prince of Bel Air and Family Ties; Richard Waryn, former Managing Director of Dubai Capital Group’s private equity activities in the CIS Region; and Larry Namer, co-founder of E! Entertainment.

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Mr. Dave Weisgerber - Managing Director, Drilling Operations

His 34 years of experience in the drilling industry with a comprehensive background in natural gas, oil, CBM and high-pressure, high-temperature steam. Mr. Weisgerber is proficient in all methods of directional and horizontal orientation and has spent the past 13 years working on projects in the United States for Huber, EnCana Oil & Gas, Pinnacle Gas Resources and Chesapeake Energy Corporation. Mr. Weisgerber has also worked on drilling projects in Indonesia, India and the Philippines.

Mr. Keith Reeves - Managing Director, Geology & Exploration

With a career of 28 years of experience in the oil and gas industry, Mr. Reeves is an expert in the areas of exploration, development and production geology which he has executed on a global basis – from the far reaches of Burma, to prolific oil & gas plays in the United States to successful methane gas discoveries in Botswana. Mr. Reeves has immense experience in acquisition prospect analysis with ranking, risk assessment, volumetrics and economic forecasting.

Mr. Paul Stroud - Managing Director, Operations

With more than 31 years of worldwide experience in the energy industry, he has an extensive background in onshore and offshore oil and gas operations, CBM wells, hot-water wells and high pressure steam wells. Mr. Stroud began his career as an engineer for Shell in 1971. After a period at UNOCAL Geothermal he established a consulting business, heading up projects for OESI in Hawaii, and Caithness Corporation in Indonesia.

大卫·威尔斯特伯先生——董事总经理，钻井作业在钻井行业、天然气、CBM、高压高温蒸汽行业中有34年经验和综合背景。威尔斯特伯先生在

过去的13年一直为Huber 、Encana、Pinnacle Gas Resources and Chesapeake Energy Corporation的项目工作，精通各方面情况介绍。威尔斯特伯先生也曾为在印度尼西亚，印度和菲律宾的钻井项目工作过。

基斯·李维思先生——董事总经理，地质与勘探在石油天然气产业有28年的经验，李维思先生是勘探、开发和生产方面的专家。李维思先生曾

在全球范围内执行，远到缅甸，再到石油天然气多产的美国，最后到博茨瓦纳的甲烷气体的发现。李维思先生在收购前景分析和排名、风险评估、容量说明和经济预测方面拥有丰富的经验。

保罗·斯劳德先生——董事总经理，运营他拥有超过三十年全球能源产业的工作经验，在陆上海上石油天然气运营，煤层气井、热水

井、高压气井方面具有广泛的背景。在1971年，斯劳德先生作为一个为Shell工作的工程师开始了他的事业。在为UNOCAL Geothermal工作了一段时间后，他建立了一个咨询业务，为OESI在夏威夷和印度尼西亚凯思内斯郡公司的项目负责。

世界石油展望

World Oil Outlook

在欧亚地区的原油产量，预计会从2011年的大约13.4万桶/日增加到2016年13.9万桶/日 。原油和液化天然气在非欧佩克亚洲国家（中国除外），也有很好前景，预计从2011年的3.5万桶/日达到2016

年3.9万桶/日。从去年的情形看，印度将是主要增长点。在印度新的项目诸如 Bhagyam，Aishwaria/Raageshwari, Heera & South Heera and Krishna-Godavari 中，预计能使产量在2016到达23万桶/

日，在参考这份报告中，印度原油从89万桶/日增加到了100万桶/日。 马来西亚中期项目中，预计产量将持平在700，000桶/天左右，越南地区产量可能会有小幅度的增加，从2011年350，000桶/日到2016年400，000桶/日。这一些小幅度的增长来源于Su Tu Trang,Gau

Trang,Hai Thach,Hai Su Trang/Hai Su Den, Amethyst Southwest, Dua and Su Tu Nau。 而印度尼西亚、文莱、巴布亚新几内亚、巴基斯坦和泰国，原油产量预计在中期持平。 就中国而言，目前的产量4.1万桶/日预期将会持续到2013年不变，增长将会在2014年出现，而额外的300，000桶/日的产量会来源于一些其它中期工程，比如涠洲和春小等地区。这就抵消了大庆、胜利和辽河这些大型油田产量的下降。在Reference case报告中，中国中期原油计划是从2011年41万桶/日增长到2016年42万桶/日。

资料来源于2012年世界石油概况，由欧佩克石油组织发布。

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Total crude oil and NGLs production in Eurasia is anticipated to grow from around 13.4 mb/d in 2011 to 13.9 mb/d by 2016. Crude oil and NGLs production in non-OPEC Asian countries, excluding China, is also expected to see healthy growth, reaching around 3.9 mb/d by 2016, from 3.5 mb/d in 2011. As in last year’s Outlook, India is anticipated to be the main growth area. New projects including the Bhagyam, Aishwariya, Saraswati/Raageshwari, Heera & South Heera and the Krishna-Godavari Cluster expansion are anticipated to add production capacity of about 230,000 b/d by 2016. In the Reference Case, Indian crude oil and NGLs production increases from 890,000 b/d in 2011 to about 1 mb/d in 2016.

Elsewhere, Malaysia’s medium-term production is projected to stay flat at about 700,000 b/d. Vietnam’s production will show some modest growth, increasing from 350,000 b/d in 2011 to around 400,000 b/d in 2016, due to projects such as the Su Tu Trang, Gau Trang, Hai Thach, Hai Su Trang/Hai Su Den, Amethyst Southwest, Dua and Su Tu Nau coming onstream. Supply in Indonesia, Brunei, Papua New Guinea, Pakistan and Thailand is expected to stay fairly consistent in the medium-term.

As for China, its current level of production of 4.1 mb/d is expected to be maintained till 2013, with growth then expected in 2014. Additional volumes of more than 300,000 b/d are expected to come from new projects over the medium-term, such as Weizhou, Chunxiao and other phases of Nanpu. These are anticipated to offset production declines from the Daqing, Shengli and Liaohe giant fields. In the Reference Case, China’s medium-term crude oil and NGLs production is projected to grow by about 100,000 b/d, from 4.1 mb/d in 2011 to 4.2 mb/d in 2016

Source: 2012 World Oil Outllook, Published by OPEC

按燃料類型劃分世界的主要能源供應千桶油當量

核電/水電/生物/其他氣煤油

联系人

Contact

保罗·亚当斯全球项目、财务及投资董事总经理环球绿色能源有限公司paul.adams@tgerllc.com424-254-8448

准备的兵马俑绿色能源有限责任公司，2013年。

Paul AdamsManaging DirectorGlobal Projects, Finance & InvestmentsTerraGreen Energy Resources LLCpaul.adams@tgerllc.com424-254-8448

Prepared by TerraGreen Energy Resources LLC, 2013.

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