18,411. Current Assets. FY2006. FY2007 (A$000's

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White Energy Company Limited ASX WEC Other OTC
WECFY (ADR)
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Disclaimer Forward Looking Statements

• The information contained in this presentation
  has been prepared in good faith by White Energy
  Company. No representation or warranty, express
  or implied, is made as to the accuracy, adequacy
  or reliability of any statements, estimates or
  opinions or other information contained in this
  presentation. Except for the historical
  information contained herein, the matters
  discussed in this presentation contain
  forward-looking statements, including statements,
  containing the words planned, expects,
  believes, strategy, opportunity,
  anticipates, and similar words. Such
  forward-looking statements are subject to known
  and unknown risks, uncertainties, or other
  factors that may cause the companys actual
  results to be materially different from
  historical results or any results expressed or
  implied by such forward-looking statements. We
  assume no obligation to update any
  forward-looking statements to reflect events or
  circumstances arising after the date hereof. All
  White Energy Company SEC registration materials
  are available at the WEC Web site,
  www.whiteenergyco.com.

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Company Snapshot

• Listed Australian Securities Exchange (ASX WEC)
• Other OTC ADR Program (WECFY).
• Business Description Commercialization of Coal
  Upgrading Technology.
• Shares outstanding 124MM fully paid ordinary
  shares.
• Recent share price (Nov 2nd, 2007)
• ASX A2.95 (US2.65)
• OTCBB US13.35
• Equity market capitalisation A366MM
  (US329MM).
• Available funds A57MM (US51MM).
• Corporate headquarters Sydney, Australia
  offices in Indonesia and China.
• Full-time personnel 30.
• Public since March 2005.
• Insider ownership 34 of shares outstanding.

Notes Based on number of shares outstanding,
exchange rate A1.00 US 0.90
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Financial Snapshot
Consolidated Balance Sheet
Consolidated Statement of Cash Flows
Notes Includes consolidation of Indonesian JV
cash balance reported only in annual statutory
accounts and not in quarterly reports October
2007 convertible note funding of A45MM
(US38MM), current cash balance A57MM (US51MM)
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The World Needs Coal

• By 2100, nearly half of the worlds energy supply
  is projected to come from coal.
• Dwindling reserves of oil and natural gas suggest
  that their contribution to world energy use will
  show modest growth at best.
• Any new demand will be met partly by carbon-free
  energy sources, but mostly by coal.

Coal
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Global Market Drivers

• Rapidly growing coal demand - Global coal demand
  is expected to grow significantly through 2030,
  particularly from the fast growing economies of
  China and India (IEA).
• New crude oil paradigm placing upward pressure on
  competitive fuels - Rising crude oil pricing is
  increasing demand for cheaper, indigenous fossil
  fuels.
• Deliverability of high quality coals is declining
  - In both North America and Asia, production of
  high thermal value / low emission coal is
  declining.
• Increasing global emphasis on emissions
  reductions - Across the globe, emissions of CO2,
  SOx, NOx and Hg are coming under increased
  regulation. Coal is a vital resource option for
  meeting the worlds sustainable energy needs.
• Coal needs to be clean to be viable - Global
  sub-bituminous and lignite (brown) coal deposits
  are relatively underdeveloped because their high
  moisture and low energy content create
  utilisation, transport and environmental
  inefficiencies.

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Why White Energy?

• White Energy has a technology that represents a
  first step in building a cleaner coal solution.
• White Energys unique coal upgrading technology
  is commercially viable.
• White Energy has demonstrated the ability to
  monetize significant value-add.
• White Energy has capable, incentivized
  management.
• Near term revenue generation.

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White Energy Upgrades Low Value Coal

• White Energy has a technology that represents the
  first step in building a cleaner coal solution.
• The White Coal Technology is an evolutionary
  process that speeds the maturation of lower grade
  coals.
• The upgrading technology removes coal moisture
  and improves heat content and quality of the coal
  to higher energy levels characteristic of higher
  value bituminous coals.

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The White Coal Value Added Process

• The White Coal Technology was originally
  developed by a consortia led by the CSIRO, the
  pre-eminent Australian government sponsored
  research organisation.
• Low value coal is crushed and rapidly dried to
  remove water content.
• Compaction generates close bonding between the
  dried coal particles without the need for
  expensive binding agents.
• As a result, high density, higher energy content
  briquettes are formed.
• The process works on both fine and lump coal.
• Coal samples from China, the US, Australia,
  Indonesia and South Africa have all been
  successfully processed.

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The White Coal Technology Benefits

• Higher energy content WCT increases heat energy
  37.5, creating valuable power generation
  efficiencies.
• High volume production capacity
• Low upgrading costs Favorable conversion
  economics allow the product to compete with
  bituminous coals.
• Lower spontaneous combustion risk Upgraded coal
  is physically and chemically stable, and can be
  handled, stored and transported as normal coal.
• Lower transportation costs Process reduces
  moisture, resulting in up to 30 decrease in load
  volumes and concomitant transportation costs.
• Reduced greenhouse gas and pollutant emissions
  More efficient burning results in lower CO2, SO2,
  NOx and Hg emissions.

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White Energys Low CAPEX Solution
CAPEX US Million Per 1MTPA Plant
400
350
350
300
250
200
150
100
100
75
50
27
0
Kobe Steel
Environmental
Evergreen
White Energy
Clean
Energy
Technologies
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Strong Power Plant Performance
Sub-bituminous coal upgraded by White Energy
compares very favorably with higher priced
bituminous coal
Compare
Source BHP Billiton 2007
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Market Development - Asia

• Outlook
• Demand for thermal coal in Asia will grow by 77Mt
  (66) of total global growth.
• Strategy
• Target Indonesia, China India (13.4 of global
  reserves).
• Initial agreements with Bayan Resources and Adaro
  / Itochu for development of Indonesian coal
  deposits and other pipeline opportunities.
• Agreement with Datang for development of Inner
  Mongolian deposits and other Chinese
  opportunities.

Asian Thermal Coal Import Demand (Mt)
Source Barlow Jonker
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Market Development North America

• Outlook
• Central Appalachian compliance coal supply has
  fallen 60 MPTA in last 10 years.
• US power utilities switched from local bituminous
  coals to avoid costly flue gas desulphurization
  plants.
• Strategy
• Establish foothold in Powder River Basin region
  (US), the largest sub-bituminous coal producing
  region in the world, with an annual output of
  more than 350M tonnes.

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Commercialization Timeline
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2007 Highlights

• Endorsement by BHP Billiton Funding announced
  US35M BHP to act as exclusive global marketing
  agent.
• Successful capital raises A23M private
  placement at A0.96 per share (2006) A45M
  convertible note at A3.44 per share (2007).
• Construction of first Indonesian plant begun
  Commissioning expected by mid-2008.
• Second Indonesian JV signed Adaro Group and
  Itochu Corporation to establish a 1MTPA plant,
  with intention to increase to 8MTPA.
• China feasibility study commenced Part of JV
  with Datang International Power Company Ltd to
  build plants aggregating 10MTPA.
• AusIndustry Grant A4.35M provided by the
  Australian Government to fast-track construction
  of new demonstration plant.
• Pipeline developments Coal samples from
  potential JV partners in China, Russia,
  Indonesia, Australia and South Africa have been
  successfully processed.

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Coal Utilization
Coal From Mines
From Coal
Coal Utilisation (energy conversion)
Combustion
Gasification / Liquefaction
OR
Petrochemicals Clean Fuels
Hydrogen
Synthetic Natural Gas
Fertilisers
Electricity
Multiple High Value Products
Adapted from Canadas Clean Coal Technology
Roadmap
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White Energy Zero Emissions Strategy

• Coal upgraded by the White Coal Technology can be
  used to supply each of the stages of the coal
  technology lifecycle, offering immediate CO2
  emission reductions of up to 10.
• White Energy will continue to partner with major
  players in the coal value chain, from coal
  producers to utility providers.
• These strategic partnerships will enable the
  production of a number of high value end
  products.
• White Energy will continue to develop and acquire
  synergistic technologies in both coal upgrading
  technology and emissions reductions, driving the
  company toward its objective of zero emissions.

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A Facilitator to Zero Emissions
Efficiency Improvements Existing Power Plants
Advanced Technologies New Power Plants
White Coal Technology
Zero Emissions



Source Adapted from World Coal Institute (2003)
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Management Team

• John Atkinson, Managing Director, formerly
  managed Baker McKenzie in Hong Kong, where he
  specialized in MA. He is the former Chair of
  Baker McKenzies global Major Projects Group.
• Travers Duncan, Executive Chairman of White
  Energy Technology Limited, is a civil engineer
  with more than 30 years experience managing
  large coal mining and infrastructure development
  projects in Australia, Indonesia, Papua New
  Guinea and India.
• John McGuigan, Non Executive Chairman, is a
  former global executive chairman of Baker
  McKenzie Worldwide. He is a long-term investor in
  White Mining related coal ventures.
• John Langley, Director of Business Development,
  has more than 30 years experience in mining
  related technology companies.
• Keith Clark, Director of Technology, has more
  than 35 years experience in research and
  development in coal and mineral processing. He
  led the RD program at CSIRO that developed the
  White Coal Technology process.

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Why Invest in White Energy?

• The world needs clean coal to meet increasing
  energy demands driven by economic growth.
• White Energys technology represents a first step
  in building a cleaner coal solution the company
  is a key participant in the drive toward a zero
  emissions future.
• The White Coal Technology is unique, commercially
  validated and driven by a capable, incentivized
  management team.
• White Energy will continue to develop and acquire
  synergistic technologies in both coal upgrading
  and emissions reductions.
• White Energy has significant near term (3Q08)
  revenue generation potential.
• White Energy is a high-growth investment
  opportunity.

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For more information visit our website at
www.whiteenergyco.com