30 January 2007
Australian Stock Exchange Limited
Level 6, Exchange Centre
20 Bridge Street
Sydney NSW 2000
ISSUE OF OPTIONS
White Energy shareholders approved the implementation of an Incentive Option Scheme for employees and consultants at the Extraordinary General Meeting on 28 June 2006.
In August 2006, the company negotiated with employees and consultants the issue of options under the Incentive Option Plan based on the share price at that time, subject to final documentation being implemented. The negotiated terms included an exercise price at a premium to the then current share price.
The documentation has now been completed and the allotment completed under the Incentive Option Scheme.
Attached is an Appendix 3B in relation to the issue of these unlisted options.
White Energy Company Limited