We, ODIN PETROIL S.A.
By virtue of this promissory note we promise to pay several and unconditionally to the order from Bancolombia SA, or who
represents their rights, at its offices from SANTA MARTA the amount of FIVE HUNDRED MILLION PESOS legal currency
(Cop $ 500,000,000.00), that we have received from the Bank as a title of mutual business with interests. We will pay such
amount over a period of 12 months through 12 equal monthly quotes of FORTY-ONE MILLION SIX HUNDRED AND SIXTY-
SIX THOUSAND SIX HUNDRED AND SIXTY-SEVEN PESOS legal currency (Cop $ 41,666,667.00) each one, the first one
should be paid on August 15 th , 2008 and each month consecutively until the full debt is cancelled. We will recognize during
the term, interest to the average rate of deposits paid by credit establishments by certificates of deposit term with a period of
ninety (90) days (DTF), certified by the Banco de la República or the rate that replace it, increased in SEVEN POINT FIVE
HUNDRED FIFTY (7,550) points, interest will be liquidated by advanced quarter and paid in its equivalent due month.
For the first period the interest rate is SEVENTEEN POINT THIRTEEN AND EIGHTY ONE PERCENT (17,1381 %) per year.
For the next period of interest, the interest will be adjusted taking into account the current rate for the week which begins in the
corresponding period of interest. In the event of default we will pay for each day of delay, liquidated interest at the rate of
TWENTY-SEVEN POINT AND SIX NINETY PERCENT . (27,9600 %) per year or the maximum legal allowed rate. Failure or delay
in the payment of any quote of the amortization of capital or interest will cause to the creditor to declare the obligation expired
and require paying the entire debt. It is also understood that the Bank may enforce the obligation contained in this promissory
note in the following cases: 1 - If the assets of any of the Subscribers are seized or pursued by any person exercising any
action. 2 - De