EWC: East Java LNG receiving terminal Memorandum of Understanding signed

(07 October, 2011)--The Directors of Energy World Corporation (EWC) are pleased to announce that a Memorandum of Understanding (MOU) has been signed between EWC represented by Mr. Stewart W. G. Elliott, Chairman and CEO and the Provincial Government of East Java represented by East Java Governor, his Excellency Dr. H. Soekarwo. The MOU, signed in Surabaya on 4 October 2011. relates to the development and construction in East Java of an LNG Import Receiving Terminal and associated Regassification and Marine Facilities capable of processing up to 3 MPTA of LNG (Phase 1). It was further agreed that a gas fired power station would be incorporated as Phase 2 of the project which also envisages further expansion of the LNG Import Terminal facilities.

East Java is currently lacking in gas supply of around 3 MTPA and reportedly 332 companies in East Java do not have enough gas supply for their production.

The development in East Java is similar in scope and specification to the LNG Import Terminal currently being developed by EWC in Pagbliao, Philippines. LNG supplies for the terminal will be sourced from EWC?s planned Liquification Facilities in Indonesia and Australia and other third party supply sources should this be required.

The Provincial Government of East Java has undertaken to assist EWC in land provision and acquisition, and licencing and other required approvals to facilitate the development of the project which will be constructed over a period of 18-24 months once the requisite approvals and land has been obtained.

This development is a part of the overall planning of EWC to open new markets for LNG by developing ?both ends?, supply, production and the receiving terminals and distribution of LNG thus bringing clean and affordable fuel sources to Asia and providing the infrastructure needed to achieve this.

Shareholders requiring any further information in connection with this announcement should contact the undersigned. (end of release)