19/11/2009

Announcement Details

ASX URL: http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=wec#headlines

Summary

White Energy Company Limited (White Energy (ASX:WEC, OTCQX: WECFY)) previously announced to the market on 11 November 2009 that it had reached agreement with Asia Special Situation Acquisition Corporation (ASSAC) to mutually terminate the Merger Implementation Agreement in regards to the proposed merger between White Energy and ASSAC which was to be implemented by way of scheme of arrangement.

Following the decision to mutually terminate the proposed transaction with ASSAC, White Energy applied to the Federal Court of Australia for orders cancelling the meetings of shareholders and optionholders called to consider the proposed transaction.

The Federal Court of Australia yesterday made orders cancelling the meeting of shareholders and optionholders convened for 23 November 2009 and dismissing White Energy’s application generally in relation to the previously proposed scheme of arrangement.

Shareholders should be aware that the Company’s Annual General Meeting will proceed as planned at 10am on 23 November 2009 at the Theatre, Portside Centre, Level 5, 207 Kent Street, Sydney.