Breached Contracts

Contract Number: 1078897352 issued on March 10, 2004, 12:42 am and became overdue for payment on March 23,2004

Company Name: PT Calmusindo Energy Services
Address: Jl Rangkasbitung KM 1
Cikande Banten
City: Indonesia 42186
Contact: Mr Muhammad Nasir - President Director
Telephone: 62-254-401509
Fax: 62-254-401508

Shipping to PT Calmusindo Energy Services located in Indonesia 42186

Client ordered 50000 MTW of our material code 200-206 for 12 months at a price of $ 147.00 USD to be unloaded in China - Tianjin
Client currently owes $ 88,200,000.00 USD from March 23,2004 which is a full breech of contract on the initial amount of $ 7,350,000.00 due on March 23,2004
Client has not made any attempt to settle this debt nor to make any payment thereon and is assumed to be financially insolvent.
Client has made the following comments related to this posting: