Mining Exploration Entity Quarterly Report - Dec 2008

A summary of major items of activity for White Energy Company Limited (“WEC”) during the quarter ended 31 December 2008.

Coal Technology Operations
PT Kaltim Supacoal (“KSC”) ‐ Joint Venture with PT Bayan Resources (WEC 51%)
River Energy ‐ Joint Venture with Black River – African Market (WEC 51%)
Proposed Merger with Asia Special Situation Acquisition Corp.
Agreement with Buckskin, USA – First White Energy Commercial Plant in Powder River Basin
BHP Billiton Funding and Marketing Arrangements
Capital Raising Initiatives

Exploration Operations
Bridgetown (White Energy 100%)
Cosy Creek Molybdenum Anomaly
Other Geochemical Targets