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Xun Corporate  
#1 Posted : Wednesday, February 25, 2015 2:27:11 PM(UTC)
Xun Corporate

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On January 6, 2015, JV008/04 entered into a JP54 Agreement To Purchase 2 million barrels of aviation jet fuel FOB Rotterdam to be followed by a contract up to 5 million barrels per month over a 12 month period including rollovers and extensions with BB IDEE BETEILIGUNGEN AG (Seller). The terms and conditions of the JP54 Agreement To Purchase required the Seller to sell the first 2 million barrels of aviation jet fuel to an Exit Buyer (approved Major) as arranged by JV008/04 at a negotiated sales price higher than the purchase price of the aviation jet fuel by JV008/04 from the Seller as a Pass Through Sale (PTS). The Seller agreed to sell the aviation jet fuel to the Exit Buyer per the price negotiated with the Exit Buyer and pay to JV008/04 the differential between the Selling Price to the Exit Buyer and the Purchase cost by JV008/04 from the Seller. JV008/04 met all of the conditions of the JP54 Agreement To Purchase which included the Exit Buyer being one of the five largest oil companies in the world. The Seller breached the JP54 Agreement To Purchase by failing to issue the Commercial Invoice to the Exit Buyer as required by the terms and conditions of the JP54 Agreement To Purchase. JV008/04 failed to earn gross profit (before buying and selling costs) of USD$8.00 per barrel. JV008/04 is examining its option to bring legal action against the Seller and their bank for breach of contract and damages sustained by JV008/04.

There are no assurances that JV008/04 will bring any legal action against the Seller. Should a legal action be taken by JV008/04, there are no assurances that JV008/04 will be successful in being awarded damages sought after with the legal action and no assurances that if successful in being awarded damages, that JV008/04 will be successful in collecting the damages from the Seller or their bank.

Edited by user Thursday, February 26, 2015 4:04:57 PM(UTC)  | Reason: clarification

thanks 7 users thanked Xun Corporate for this useful post.
4on4off on 2/25/2015(UTC), fischerman1940 on 2/25/2015(UTC), Daddyvlo17 on 2/25/2015(UTC), Darbea on 2/26/2015(UTC), Xun VP - Investor Relations on 2/26/2015(UTC), JOECROWE789 on 2/27/2015(UTC), osu1978 on 2/27/2015(UTC)
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fischerman1940  
#2 Posted : Thursday, February 26, 2015 8:43:07 PM(UTC)
fischerman1940

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Dear Xun management,

Thank you for updating shareholders on the joint ventures and 10Q, and thank you for your efforts thus far in the establishment of the Xun Oil Marketing division.

It is unfortunate that the current joint ventures did not work out, but it is to be expected that there will be growing pains in any new venture, just learn and adapt. On the positive side, it looks like there is substantial interest by buyers, financiers, and suppliers in dealing with XOM as evidenced by the 4 joint ventures we shareholders know of (JV002, 003, 006, and 008) and 6 deals (JV002, 003, 006, 008, 008/02, and 008/04). Based on industry research provided by posters on the forum, it seems that the division is positioned in the right places to maximize the market potential.

Once again, thank you for your efforts and hopefully soon XOM will be able to close their first deal. Looking forward to future updates on the division and the company as a whole.

Thanks again.
thanks 6 users thanked fischerman1940 for this useful post.
Xun Pres on 2/27/2015(UTC), 4on4off on 2/27/2015(UTC), Xun VP - Investor Relations on 2/27/2015(UTC), JOECROWE789 on 2/27/2015(UTC), osu1978 on 2/27/2015(UTC), Daddyvlo17 on 3/15/2015(UTC)
fischerman1940  
#3 Posted : Sunday, March 15, 2015 10:17:41 AM(UTC)
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Dear Xun Management,

One question pertaining to this joint venture. I understand that the contract was breached due to the seller failing to issue the Commercial invoice to the exit buyer. Is this deal between the buyer and seller void or is there a possibility that the seller can still issue the commercial invoice to complete the deal?

Thank you for your time and efforts.
thanks 4 users thanked fischerman1940 for this useful post.
JOECROWE789 on 3/15/2015(UTC), Daddyvlo17 on 3/15/2015(UTC), Xun Pres on 3/16/2015(UTC), 4on4off on 3/16/2015(UTC)
Xun Pres  
#4 Posted : Monday, March 16, 2015 11:04:18 AM(UTC)
Xun Pres

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Thank you fischerman1940 for your post and questions in Post #3 above.

We have replicated your post below:

Dear Xun Management,

One question pertaining to this joint venture. I understand that the contract was breached due to the seller failing to issue the Commercial invoice to the exit buyer. Is this deal between the buyer and seller void or is there a possibility that the seller can still issue the commercial invoice to complete the deal?

Thank you for your time and efforts.


Question #1: I understand that the contract was breached due to the seller failing to issue the Commercial invoice to the exit buyer. Is this deal between the buyer and seller void or is there a possibility that the seller can still issue the commercial invoice to complete the deal?

Response to Question #1: The deal between us, the Buyer (IXEL) and the Seller (BBB Group) has been breached, in our opinion, by the Seller, and IXEL has been damaged as a result. It is up to both parties to agree with each other if they wish to proceed with the contract. If no agreement can be reached, then it is up to the damaged party (IXEL) to seek legal enforcement of the contract for the alleged damages. If you are asking if this deal can be salvaged, the answer is no.

Physical commodity trades are time sensitive. They must happen at the appropriate time. If they do not, the parties go their separate ways. In this case, our Exit Buyer had a demand to fill and turned to other sources of Aviation Jet Fuel (AJF) suppliers to be filled. Storage of AJF at Rotterdam is very expensive and holding the AJF for any period of time eats away at the profits and there is risk of losses from downward price swings. AJF has a shelf life and cannot sit in storage tanks for prolonged periods of time.

DISCLAIMER: SUBJECT TO SAFE HARBOR CLAUSE.

We thank you for your interest, support and faith in the Company.

Respectfully,

Xun Energy, Inc.
Jerry G. Mikolajczyk
President and CEO

Safe Harbor

The statements contained in this post may not be historical fact, are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements contained herein are based on current expectations that involve a number of risks and uncertainties. These statements can be identified by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” "projects" or “anticipates,” or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. The Company wishes to caution the reader that its forward-looking statements that are historical facts are only predictions. No assurances can be given that the future results indicated, whether expressed or implied, will be achieved. While sometimes presented with numerical specificity, these projections and other forward-looking statements are based upon a variety of assumptions relating to the business of the Company, which, although considered reasonable by the Company, may not be realized. Because of the number and range of assumptions underlying the Company’s forward-looking statements, many of which are subject to significant uncertainties and contingencies that are beyond the reasonable control of the Company, some of the assumptions inevitably will not materialize, and unanticipated events and circumstances may occur subsequent to the date of this report. These forward-looking statements are based on current expectations and the Company assumes no obligation to update this information. Therefore, the actual experience of the Company and the results achieved during the period covered by any particular forward-looking statements may differ substantially from those projected. Consequently, the inclusion of forward-looking statements should not be regarded as a representation by the Company or any other person that these estimates and projections will be realized. The Company’s actual results may vary materially. There can be no assurance that any of these expectations will be realized or that any of the forward-looking statements contained herein will prove to be accurate. There is no guarantee that the Company will close on the financing or close on the acquisition of the producing oil and gas leases.


thanks 5 users thanked Xun Pres for this useful post.
fischerman1940 on 3/16/2015(UTC), JOECROWE789 on 3/16/2015(UTC), Daddyvlo17 on 3/16/2015(UTC), 4on4off on 3/16/2015(UTC), Xun VP - Investor Relations on 3/17/2015(UTC)
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