Exhibit 99.1
SINOENERGY CORPORATION
1603-1604, Tower B Fortune Centre Ao City
Belyuan Road, Chaiyang District
Beijing, P.R. China 100106
February 5, 2010
Abax Nai Xin A Ltd.
c/o Abax Global Capital (Hong Kong) Limited
Suite 6708, 67/F Two International Finance Centre
8 Finance Street
Central, Hong Kong SAR
Abax Jade Ltd.
c/o Abax Global Capital (Hong Kong) Limited
Suite 6708, 67/F Two International Finance Centre
8 Finance Street
Central, Hong Kong SAR
CCIF Petrol Limited
Kingston Chambers, PO Box 173
Road Town, Tortola
British Virgin Islands
Re: Sinoenergy Corporation
Ladies and Gentlemen:
Reference is made to the agreement dated December 17, 2009 (the “December 2009 Agreement”), by and among Sinoenergy Corporation, a Nevada corporation (the “Company”), and you.
1. | This letter will confirm that the payment by Sinoenergy on January 7, 2010 of $280,000, as set forth in Schedule 2 to the December 2009 Agreement, the receipt of which is hereby acknowledged, constitutes full satisfaction of the Company’s obligations pursuant Section 2(f) of the December 2009 Agreement. |
2. | Except as amended by this letter, the December 2009 Agreement remains in full force and effect. |
3. | This Letter shall be binding upon the Company, the Noteholders and their successors and assignees, and the Noteholders shall affix a copy of this Letter to each Note of which they are the holder. |
[Signatures on following page]
Abax Nai Xin A Ltd.
Abax Jade Ltd.
CCIF Petrol Limited
February 5, 2010
Page 2
Please confirm your agreement with the foregoing:
SINOENERGY CORPORATION
By: /s/ Huang Bo
Name: Huang Bo
Title: CEO
AGREED TO:
ABAX NAI XIN A LTD. | ABAX JADE LTD. | CCIF PETROL LIMITED | ||
By: /s/ Frank Qian | By: /s/ Frank Qian | By: /s/ Andrew Lo | ||
Name: Frank Qian | Name: Frank Qian | Name: Andrew Lo | ||
Title: Director | Title: Director | Title: Authorized Signatory |