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Nurit Kleinberger (Mrs.) - Chemical Engineer3. Eshel Strcet, Omcr 84965, ISRAEL

Telephones: 971.8646.9702, Cclular: 972.54262388; Fax: 972~8646-7441E-mail: nuritk@012.netil

Biopetrol Ltd

Pilot Plant 40kglhr dry basisBudget Estimate forUSA

Prepared by: Nurit Kleinberger ,-

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Nurit Kleinberger (Mrs.) - Chemical Engineer3, Eshe\Street,Omer 84965,ISRAEL

Telephones:972-8646-9702,Cclu\ar:972-54262388;Fax:972.8646-7441E-mail: nuritk@OI2.net.i1

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Asswnptions and Desc!iP.tion Cost $ Total Cost $1. Civil works

It is assumed that the plant will be located within thepremises of a sewage treatment plant and the site willbe either covered with pressed bed material or coveredwith asphalt. If so, there will be almost no cost for thisitem. We therefore assume 0.00 0.00

2. Concrete and structures2.1 Concrete foundations, 8 pieces sized 80x80x15 cm

estimated . 1000.002.2 Transportable container with air conditioner, suitable

for electrical and control panels + office. 9,450.002.3 Container frames for the equipment -4 units 22,450.002.4 Supports, staircases with handrails. escape ladder,

walking trails etc. Total 6 tons structures C.S epoxypainted. 12,000.00Total Cost For This Item 44,'00.0

3. ProcessiEquipment according to appendix3.1 The pricing of the equipment is based on suppliers'

quotes.The cheapest offer was accounted for in eachcase. The reactors are self designed as there is nosuitable equipment on the market for such small plant.We believe this equipment is soundly designed and willperfonn as expected. Some modifications may howeverbe required as a result of the pilot operation. 455,024.00

3.2 Equipment Installation 22,000.00Total Cost For This Item 477,024.00

4. Electrical systemThis item includes the electrical panel for all motorsand VFDs, all the instrwnentation connections, PLCand R.Ml for the control system and fOfdata acquisitionand reporting. Contactors for the 3 induction heaters areincluded with the equipment. 65,000.00 65,OUO.00Total Cost For This Item

5. PipingThe piping system has been estimated based on the linelist and Ivalveslist. Estimate is for installed piping. 22,000.00VaJ.vesincluding automa.ticON QFF valves. 10,000.00Total Cost For This Item 32.000.00

6. Instrumentation according to list attached in appendix. 12,600.00Cables, iconsumablesand installation work for 15.9°0.00instrumentsTotal Cost For This Item 27,6(10.00

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Nurit Kleinberger (Mrs.) - Chemical Engineer3, EshelStreet,Omer84965. ISRAEL

Telephones: 972-8646.9702, Celular: 972-54262388; Fax; 972.8 646-7441E-mail:nuritk@OI2.net.il

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Note that no cost was allocated for connecting the plant to main electrical supply as these arelocal expenses land we do not have sufficient informatiqn to estimate them. This plant willrequire a 120KlWelectrical supply.

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7. InsulationThis item was estimated based on piping list andequipment list.Equipment insulation 6,700.00Piping IDsulation 5,000.00Total Gost For This Item 11,700.00

8. Testin21anddry commissioning (estimate) 12,000.00Total Cost For This Itero 12,000.00

9. Packaging & sbivment to USA inel. insurance 30,000.00Total Cost For This Item 30,000.00

10. Subtotal direct estimate, engineering excluded. 700,224.0011. Admin.i& unforeseen-15% 105O34.0012. Total budget, engineering excluded. 805,258.00