2008-07-24 14:36:09 -

- White Energy Company Limited (ASX: WEC) ("White Energy") today announced that its American Depositary Receipt ("ADR") program began listing on the International OTCQX effective July 23, 2008 (New York). This will provide U.S. based investors with easier access to buy and sell White Energy securities and at the same time will provide White Energy with greater access to the

U.S. capital markets.

White Energy's ADRs began trading on the International PrimeQX, under the ticker OTCQX WECFY.PK. White Energy's ordinary shares are listed on the Australian Stock Exchange ("ASX") under the ticker WEC. U.S. based investors can find real-time quotes, disclosure and financial information about White Energy at www.otcqx.com. Australian investors can continue to find identical information about the company through the ASX at www.asx.com.au.

The International OTCQX is a listing service for international companies which are already listed on a qualified non U.S. stock exchange and is designed to provide greater access for the U.S. investor community to profile foreign companies. White Energy's ADRs will now be able to be traded electronically and will provide U.S. investors with greater trading efficiency and access to information about the Company.

White Energy's Managing Director, Mr. John Atkinson, said, "The listing of White Energy's ADRs on the International OTCQX is a sensible step for the Company given the fact that a significant number of the Company's shareholders are based in the U.S. By listing the Company on the International OTCQX, it provides U.S. based investors with greater access to buy and sell the Company's securities. The listing on the International OTCQX also coincides with White Energy's expanding presence in the U.S. coal market."

White Energy has established a wholly-owned subsidiary in the United States, White Energy Coal North America Inc. ("WECNA"), which is responsible for the Company's U.S. operations. WECNA is currently in the final stages of a detailed feasibility study on a potential project to build a coal upgrading plant, utilizing White Energy's binderless coal briquetting technology, in Wyoming, USA.

U.S. investment bank, Merriman Curhan Ford, will serve as White Energy's Principal American Liaison ("PAL") on the International OTCQX, responsible for providing guidance on the company's International OTCQX-listing requirements and arranging a comprehensive suite of U.S. capital markets services.

"As a U.S. investment bank that specializes in advising CleanTech organizations, Merriman Curhan Ford is delighted to be White Energy's Principal American Liaison," Stephen Nash, Managing Director and Head of OTCQX Advisory at Merriman Curhan Ford said. "Merriman has demonstrated its dedication to helping ASX-listed companies access the U.S. capital markets. White Energy's OTCQX listing marks Merriman as the leading advisor for Australian OTCQX listed companies."

About White Energy Company Limited

White Energy is the exclusive worldwide license holder of the Binderless Coal Briquetting process that upgrades lower rank coal to significantly increase its energy efficiency. The process was developed by Commonwealth Scientific and Industrial Research Organization in conjunction with TraDet Inc, K.R. Komarek Inc. and The Griffin Coal Mining Company Pty Ltd. The patented process involves the crushing, drying and briquetting of high moisture coals, resulting in the reduction of the moisture content of the coal and converting the product into a higher energy content, stable briquette. The advantages of the White Energy process involve creating a higher energy value coal, creating a physically and chemically stable product, significantly enhancing coal transportation efficiencies and creating a higher energy value release with lower carbon emissions. The process has been shown to be cost and operationally superior to competing technologies.

The White Energy technology represents a first step in building a cleaner coal solution. White Energy is committed to delivering cleaner coal technologies with a view to ultimately achieving zero emission targets.

White Energy is in the process of commercializing this binderless coal briquetting technology and is currently constructing a one million ton per annum plant in Indonesia in joint venture with Bayan Resources. The Company also has a joint venture agreement with Adaro Group, one of Indonesia's largest coal companies and Itochu Corporation, a major Japanese trading house respectively, to build additional coal upgrading plants in Indonesia. Further, White Energy has signed a Heads of Agreement with Datang International Power Generation Company in relation to the development of coal upgrading plants in China. Most recently, the Company has entered into a development agreement with NRG Energy and Buckskin Mining in respect of a potential project in Wyoming, USA. In addition to these projects, the company is actively pursuing opportunities to deploy its technology across various markets including USA, Indonesia, China, India, Mongolia and Africa. For more information, please go to www.whiteenergyco.com.

About Merriman Curhan Ford

Merriman Curhan Ford (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions who invest in them. The company offers high-quality investment banking, equity research, institutional services, primary market research, asset management and corporate & venture services, and specializes in four growth industry sectors: CleanTech, Consumer/Internet/Media, Health Care and Tech/Telecom. For more information, please go to www.mcfco.com.

About International OTCQX

International OTCQX provides a gateway to U.S. securities markets for international companies that are listed on a qualified international exchange and provide ongoing disclosure in English to U.S. investors. More importantly, International OTCQX distinguishes the reputable international issuers from the 8,000 over-the-counter (OTC) securities traded in the U.S. Only leading companies that have substantial operating businesses and provide credible disclosure to the public are eligible for inclusion on the premium-tier International OTCQX, which commenced trading on March 5, 2007. For more about International OTCQX, visit www.otcqx.com.

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the prospectus, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.

White Energy Company Limited
John Atkinson, +61 2 9251 1311
Managing Director
jatkinson@whiteenergyco.com
F: +61 2 9251 1377
www.whiteenergyco.com
or
White Energy Coal North America Inc.
Judy Tanselle, 301-840-3844
President (U.S.)
or
PORTER, LEVAY & ROSE, INC.
Jeffrey Myhre, VP - Editorial
Michael Porter, President
212-564-4700
www.plrinvest.com