White Energy: Update on KSC joint venture

(19 April 2012) -- White Energy Company Limited has previously advised the market of the proceedings commenced by certain of its subsidiaries, including BCBC Singapore Pte Ltd (?BCBCS?), in the High Court of the Republic of Singapore against PT Bayan Resources Tbk (?Bayan?).

The proceedings include a claim by BCBCS against Bayan for damages arising from Bayan?s breaches of the Joint Venture Deed between the KSC shareholders and Bayan?s wrongful repudiation of the Joint Venture Deed.

The Company previously advised the market on 10 April 2012 of the interim freezing orders made by the Supreme Court of Western Australia in respect of Bayan?s 56% shareholding in Kangaroo Resources Limited, a publicly listed Australian company (?freezing orders?).

On 18 April 2012, following a further hearing in the matter, the Supreme Court of Western Australia extended the freezing orders indefinitely. The freezing orders will remain in place unless and until there is a further order made by the Coure. There will be a further hearing in the matter but the date for that hearing has not yet been set.(ends)