TO WHOM IT MAY CONCERN

TO WHOM IT MAY CONCERN Geneva, 29 April 2011 Reorganisation of the Gunvor Group trading entities effective July 1st 2011 Dear Sir, Madam, The Gunvor Group, with the purpose of responding to market needs, the completion of the integration of the Castor Petroleum group and intensifying its relationship with suppliers and customers, is restructuring its global trading business. To implement this strategy, a process has started and will continue throughout the year 2011. This includes the reorganization of the Gunvor Group companies that operate in the trading business. In this respect Gunvor SA (formerly Castor Petroleum Ltd.) will be the trading entity for all trades of physical oil, petroleum products and coal as well as futures and OTC derivatives for the mentioned commodities from July 1 st 2011. It is our intention that Gunvor SA will enter into new ISDA Master Swap Agreements with those counterparties which today have an ISDA-MSA with Gunvor International B.V., Amsterdam, Geneva Branch. Gunvor International B.V., Amsterdam, Geneva Branch will remain the trading entity for gas, LNG, emissions and Biodiesel business. All transactions which are delivered/completed prior to July 1 st 2011 will be carried out by Gunvor International B.V., Amsterdam, Geneva Branch. We intend novating all contracts for supply of crude oil, refined petroleum products and coal which are delivered or completed on or after July 1st 2011 to Gunvor SA. Without further notice from your side we will send you the novation and/or amending agreements thereto. For counterparties trading on the Global Coal platform and who currently have credit settings for Gunvor International B.V., Amsterdam, Geneva Branch, may we ask you to replicate these settings for Gunvor SA by 30 th June 2011, so that Gunvor SA can be set up in the trading system on that date and trading can continue un-interrupted. Indeed, Gunvor SA is already set-up as an entity on the Global Coal platform, but is not set up in the Global Coal trading system yet. Both Gunvor SA and Gunvor International B.V., Amsterdam, Geneva Branch have their registered address at Rue du Rhone 0-4, 1204 Geneva, Switzerland and will remain fully owned by Gunvor Group Ltd. (the Group holding company). GUN VOR SA 0-4, Rue de RhOne, 1204 Geneva, Switzerland Tel,: + 41 22 71 79 00, Fax,: + 41 22 71 79 29, ounvor(agunvortrade.ch www.g unvorgroup. corn

We do not anticipate any disruption as a result of this change, which we hope will be as smooth as possible. On the second page attached to this letter, we have prepared a brief Question & Answer section with the most frequent questions you might have. We thank you in advance for your understanding and cooperation. However, should you have any further questions, please do not hesitate to contact us. Yours faithfully, Timothy Ledge Chairman o the board Gunvor SA GUNVOR SA 0-4, Rue de Rh6ne, 1204 Geneva, Switzerland Tel,: + 41 22 71 79 00, Fax,: + 41 22 71 79 29, gunvorgunvortrade.ch www.gunvorgroup.com

Questions & Answers 1. Why did the Gunvor Group decide to make this change? We are integrating Castor's activities into the Gunvor Group. At the same time we feel the need from the market to separate the European energy trading activities (natural gas and emissions) as these products are usually traded in EURO. Transferring the oil, oil products and coal trading activities to Gunvor SA - which are traded in USD - will help us achieve this goal. 2. What are the financial implications? All oil, petroleum products and coal transactions dated on or after July 1st 2011 will be performed by Gunvor SA. Note that all invoices sent and received must be addressed to this new entity as of the cut off date. Addendums to contracts will be sent to you in due time as well as Gunvor SA's new Dutch and Belgian VAT numbers. 3. Will there be a change in ultimate ownership of the Gunvor Group? There is no change in ultimate ownership of either Gunvor SA or Gunvor International B.V., Amsterdam, Geneva Branch. 4. Will the daily contacts change? Your daily contacts, our office address, our phone & fax numbers and our emails remain unchanged. 5. Where can you find the extracts from the commercial registry? For both Gunvor SA as well as Gunvor International BV, Amsterdam, Geneva branch, you can find the extracts under www.rc.ge.ch by searching "Gunvor" For Gunvor International BV, Amsterdam, you can find the extract under www.kvk.n1 by searching "Gunvor" 6. Who can you contact in case of further questions? Coal Claude BUCLIN +41 77 462 20 37 claude.buclin qunvortrade.ch Contracts Jeroen WISKERKE +41 7 6 33 7 jeroen.wiskerke@gunvortrade.ch Oil/ Products Please contact your usual operational contact. Contracts Credit Frank Baum +41.22.71.6917 frank.baum@qunvortrade.ch Trade Finance Christelle Roks +41.22.71.6954 christelle.roks gunvortrade.ch Oil products Donze Trade Finance Mathieu Coolen +41.22 71.739 mathieu.coolen qunvortrade.ch Coal & Energy VAT Numbers Martijn Jongbloed +41.22.71.6919 martijn.jongbloed cjunvortrade.ch General Reception +41.22.71.7900 finance qunvortrade.ch GUNVOR SA 0-4, Rue de RhOne, 1204 Geneva, Switzerland Tel,: + 41 22 71 79 00, Fax,: + 41 22 71 79 29, gunvor(agunvortrade.ch www.gunvorgroup.com

http://rc.ge.ch EXTRAIT INTERNET Extrait sans radiations No ref. 15129/2005 N fed. CH-660-2734005-4 Gunvor SA inscrite le 14 decembre 2005 Societe anonyme Gunvor SA (Gunvor Ltd) (Gunvor AG) Raison Sociale 1 1 Geneve rue du RhOne 0-4, 1204 Geneve 31.01.2011 (nouv. stat.) Siege Adresse Dates des Statuts But, Observations But: achat, vente, negoce, commerce, echange, fourniture, gestion, transport, stockage, distribution ou disposition de quelque maniere que ce soit, a titre principal ou en tant qu'agent, de parole brut, produits derives du petrole, charbon, gaz, gaz naturel, energies renouvelables, energies alternatives, electricite, emissions et energie, et de tous autres produits petrochimiques ou matieres premieres, ainsi qu'exercice de toutes activites et services y relatifs, notamment administratifs, financiers, techniques, economiques ou de gestion et de conseil en relation avec ces activites (cf. statuts pour but complet). Organe de publication Feuille Officielle Suisse du Commerce Communication aux actionnaires: lettre, telefax ou email Capital-actions Nominal Libere Actions CHF 5'096'700 CHF 5'096'700 509'670 actions de CHF 10, nominatives Administration, organe de revision et personnes ayant qualite pour signer Inscr Mod Rad 5 Nom et Prenoms, Origine, Domicile Legge Timothy, de Grande-Bretagne, a Bardonnex Fonctions adm. president Auer Gerhard, d'allemagne, a Bernex PricewaterhouseCoopers SA (CH-660-17499-4), succursale a Geneve adm. organe de revision Taylor Kevin, de Grande-Bretagne, a Meyrin Arduini Marco, d'italie, a Satigny Christin Jan, de Geneve, a Sciez, F Goubet Bertrand, de France, a Sciez, F Gribben Chris, de Grande-Bretagne, a Meinier Jacot Thierry, de Geneve, a Geneve Jongbloed Martijn, des Pays-Bas, a Nyon Kuster Stephen, de Geneve, a Vandoeuvres Mai Hoang Gia, de Lausanne, a Denges Michel Pascal, de France, a Chene-Bougeries Mode Signature

Administration, organe de revision et personnes ayant qualite pour signer Inscr Mod Rad. Nom et Prenoms, Origine, Domicile Fonctions Mode Si. nature Orti Baneras Jose Miguel, d'espagne, a Lancy Schurink Jeroen, de Collex-Bossy, a ThOnex JOURNAL PUBLICATION FOSC JOURNAL PUBLICATION FOSC Numero Date Date Page/Id Numero Date Date Page/Id 1 15129/660 14.12.2005 20.12.2005 7/3156426 2 2247/660 13.02.2009 19.02.2009 10/49792 3 12211/660 04.0.2009 10.0.2009 9/513 4 15771/660 12.10.2009 16.10.2009 /529474 5 3116/660 22.02.2010 26.02.2010 7/5516442 6 763/660 04.05.2010 10.05.2010 9/5626174 7 936/660 07.06.2010 11.06.2010 9/5672332 2307/660 03.02.2011 09.02.2011 7/60263 9 2716/660 10.02.2011 16.02.2011 7/6036722 10 24/660 14.02.2011 1.02.2011 7/6040726 Geneve, le 05 avril 2011 Fin de l'extrait Seul un extrait certifie conforme, signe et muni du sceau du registre, a une valeur legale. Gunvor SA Page 2 / 2