Wordsworth Energy Thibaw

Wordsworth Energy Thibaw regrets to inform that were unable to agree on the terms of the license to operate in Block 45. We regret that the government was unable to see the advantages of cooperating with us, as proved by the following contract:

ENERGY INVESTMENT AGREEMENT
THIS ENGERGY INVESTMENT AGREEMENT (this “Agreement”), entered into on this 1st day of November, 2010, is between THIBAW GOVERNMENT (“Thibaw”) and WORDSWORTH ENGERGY THIBAW CO. (“WET”).
WHEREAS, WET is a corporation incorporated in United Kingdom and desires to invest in Block 45 pursuant to a license issued by Thibaw, upon the terms and subject to the conditions hereinafter set forth;
NOW, THEREFORE, the parties hereto agree as follows
Article 1 Health, Safety, Environment (HSE)
1. Wordsworth’s business operations shall be bound by the highest industry HSE standard.
2. Wordsworth shall not be responsible for any damage caused to environment unless it is due to our negligence, but under no circumstances shall we be responsible for compensating any environmental damage arising after 10 years since the date of this agreement.
3. Wordsworth will provide our employees with mandatory occupational safety and health training.
Article 2 Co-Financing for Infrastructure Projects
1. Provide and maintain infrastructure for the community, including through co-financing the following infrastructure facilities:
1) Robust roads and bridges
2) Pipeline
3) New Healthcare facility (1 hospital)
4) New wells/ upgraded water purification system for safe drinking water access
5) Ensured access to electricity throughout and surrounding the extraction area (generators)
2. Build educational facilities such as 2 schools (1 primary and 1 secondary) and 1 kindergarten
3. WET will be entitled to 49 percent of the total rights of the investment and THIBAW will be entitled to the remaining 51percent. WET shall be responsible for the entire financing of the investment project.
Article 3 Security
1. Wordsworth shall accept no spying from government in any form.
2. Wordsworth will employ private security force to protect the safety and well being of its employees.
Article 4 Labor
1. Wordsworth shall have zero tolerance for all forms of forced and compulsory labor:
1) it shall offer fair wages for our employees (benefits package) , at least the industry minimum
2) it shall engage with the government on eliminating the culture of “free labor”
3) Wordsworth and its affiliates throughout the supply chain will not engage in forced labor under any circumstances (necessary trainings will be provided)
2. None of Wordsworth’s employees or employees of its supply chain will be subject to the government’s reeducation by labor program

Article 5 The CSR Program
1. Wordsworth’s CSR Program is a part of this agreement (Appendix I).

Article 6 Arbitration/ Governing Law/ Jurisdiction Clause
1. Any disputes arising out of the matters relating to this agreement will be resolved by arbitration in the ICSID and the applicable law shall be UK law.
2. The governing law of this agreement shall be UK Law.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.
THIBAW GOVERNMETNT WORDSWORTH ENERGY THIBAW CO.