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Exhibit E Sales of Port and Terminal as Distributor/Blender Addendum to: Sale of Operating Biodiesel Business, Fuel T

Exhibit E Sales of Port and Terminal as Distributor/Blender Addendum to: Sale of Operating Biodiesel Business, Fuel Terminal and Real Estate. Consolidated Energy Holdings, LLC Prepared for James Gastineau 429 Murray Street, Suite 700 Alexandria, LA 71301 March 25, 2014. Introduction.

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Exhibit E Sales of Port and Terminal as Distributor/Blender Addendum to: Sale of Operating Biodiesel Business, Fuel T

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  1. Exhibit E Sales of Port and Terminal as Distributor/Blender Addendum to: Sale of Operating Biodiesel Business, Fuel Terminal and Real Estate Consolidated Energy Holdings, LLC Prepared for James Gastineau 429 Murray Street, Suite 700 Alexandria, LA 71301 March 25, 2014

  2. Introduction This presentation provides an overview of the distinction and business opportunities of being a biodiesel blender/distributor vs. being a biodiesel producer . . . and in particular how this relationship benefits both Vanguard and PAAL. First, being a biodiesel producer has certain rules which must be followed regarding the management of Renewable Identification Numbers (RINs). These are at the heart of the EPA’s Renewable Fuel Standard (RFS) where refiners are required by the EPA to blend in renewable fuel with their fossil-based fuels. Each year the EPA increases the volume required. However, refiners have the option to opt out of blending and simply buy the credits (the RINs). This process works the same way for ethanol. So when a biodiesel producer (Vanguard) sells a gallon of biodiesel to a distributor (PAAL) they attach to that gallon a RIN. This RIN is worth whatever the market is for RINs on any particular day. Anyone can be registered to buy and sell these RINs, and typically in a speculative manner similar to buying futures or stocks. However, in order for the distributor to transact (sell) the RIN, they are required to blend into the biodiesel 80% or less #2 diesel fuel. Typically, distributors blend 80% #2 diesel with 20% biodiesel (called B20). The EPA rules dictate that the biodiesel producer not be allowed to sell the biodiesel and keep the RIN for later sale. (As noted, the biodiesel MUST be blended with 80% or less #2 diesel fue)l. As almost every biodiesel producer is not a distributor, but having Vanguard own the PAAL facilities gives both entities certain market advantages others do not typically have. This presentation delineates this two company synergistic relationship as it relates to the local central Louisiana market for biodiesel blends of #2 diesel fuel. ..

  3. Location .. MISSISSIPPI RIVER PAAL fuel distribution market area. Approx. 75 mile perimeter Barge routes to main refineries:Citgo at Lake Charles; Exxon/Mobil at Baton Rouge INTRA-COASTAL WATERWAY • PAAL is EPA approved for RFS2 program (#3096) • IRS clearance as a biodiesel blender (for tax credit) • PAAL has a 40 year lease with Port of Alexandria for all liquids. • Port is on the Red River which connects to the Achafalaya River and Intra-Coastal waterway south. To the north and east: From the Red River then via a canal to the Mississippi River • PAAL: Port Asset Acquisition, LLC Owned 100% by : Consolidated Energy Holdings, LLC 429 Murray Street #700 Alexandria, LA 71301 318 442-8730

  4. Facilities .. LEGEND A: Off-loading dock for barges. Up to 20,000 bbls eachB: Fuel storage tanks. Total capacity 4.5 million gals.C: Biodiesel storage tank. Coiled and steam heated with insulation. Holds 650,000 gals.D: Fuel blending and loading racks with scales. Currently handles two trucks simultaneouslyE: Office, entry and exit gatesF: Rail spur. Connects to main line of Union Pacific Railway. • PAAL terminal is easily accessible . Dotted blue line marks road to port from I-49 and secondary arteries

  5. Facilities .. • PAAL truck rack entrance • PAAL diesel-biodiesel blending unit • State certified truck scale • PAAL dye injection system (right)

  6. Facilities .. • PAAL port loading facility • 2 Fuel storage tanks, 55,000 bbls each (total 4.5M gals) • Biodiesel storage tank,15,000 bbls (650,000 gals) Tanks is insulated; and with steam heating coils • PAAL port loading facility

  7. Market • Tank trucks going to Archie fuel terminal save two hours and 80 miles of fuel by going to PAAL’s Alexandria, fuel rack for #2 diesel and biodiesel blends • Fuel brought to Archie from Baton Rouge comes by barge from Placid Refiners who own the Archie terminal • Fuel is brought to PAAL by barge from either Lake Charles or Baton Rouge. • Currently, total volume of diesel fuel dispensed at Archie is about 120k to 150k per day (18 to 22 trucks), Monday thru Friday. • (A) PAAL port terminal rack to (B) Archie rack, 39 miles (55 minutes)

  8. The Opportunity • Vanguard participate in the profit of blending biodiesel at PAAL • Opportunity requires capital to bring in approx. 840,000 gals. of #2 diesel/month • Largest local Jobber will take 5 to 7 trucks per day of B20 35k to 49k gallons/day; 700,000 to 980,000 gals/month Total biodiesel will equate to 150,000 to 200,000 gals/month • Jobber must have at least a three to four cent/gal savings over #2 diesel they currently buy at Archie to make this work • Jobber automatically saves about 2 cents by NOT going to Archie • There are six or so other distributors in the central Louisiana market, combined it is estimated they would do about 2 to 3 truck loads per day adding about 70,000 gals/month to total biodiesel requirement • Combined volumes will build to 1.5m gals per month by Year 2 • PAAL existing personnel will manage marketing effort • PAAL will manage entire operation utilizing state of the art Emerson fueling and automated real-time billing (payment capture) system.

  9. The Opportunity Critical Assumptions • 840,000 gals of #2 diesel first month • 5,000 of which is a heel in 2.25M gal storage tank • Cost of #2 from Citgo at Lake Charles, $3.31/gal (3/13/14) • Barge transport $0.09/gallon • Cost vs. Archie +4 cents/gal • Biodiesel supplied to 650k storage tank • Cost of biodiesel $2.48 (after RIN transaction by PAAL) • Vanguard margin split with PAAL 50/50 • In order to never loose money, PAAL takes a PUT hedge on each 42,000 gals of both #2 and biodiesel, separately • No reserve account required as PUTS will be used • PUTS placed when in the money and for each block of 42k gallons sold • Hedging account brokerage fees (negligible) at < $300/mo.

  10. The Opportunity Margin Analysis for B20 at PAAL – Year 1

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