NEW YORK, NY, Jul 23, 2008 (MARKET WIRE via COMTEX) ----Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, today announced that White Energy Company Ltd. (PINKSHEETS: WECFY) (OTCQX: WECFY) (ASX: WEC), an Australian company focused on the commercialization of coal upgrading technologies, has chosen to list its American Depositary Receipts (ADRs) on International OTCQX.

White Energy Company's ADRs began trading today on the OTC market's prestigious tier, International PrimeQX. Investors can find current disclosure and financial information for the company on www.otcqx.com and www.pinksheets.com.

"We are pleased to welcome White Energy Company to the International OTCQX market tier," said R. Cromwell Coulson, Chairman and CEO of Pink OTC Markets Inc. "As an International OTCQX-listed company, White Energy Company distinguishes itself as one of the most prestigious companies trading over-the-counter, and provides U.S. investors with access to their latest news and disclosure information, which can increase U.S. investor awareness and participation."

White Energy's Managing Director, Mr. John Atkinson, said, "The listing of White Energy's ADRs on the International OTCQX is a sensible step for the company given the fact that a significant number of the company's shareholders are based in the U.S. By listing the company on the International OTCQX, it provides U.S.-based investors with greater access to buy and sell the company's securities. The listing on the International OTCQX also coincides with White Energy's expanding presence in the U.S. coal market."

U.S. investment bank Merriman Curhan Ford will serve as White Energy Company's Principal American Liaison ("PAL") on the International OTCQX, responsible for providing guidance on listing requirements. "As a U.S. investment bank that specializes in advising CleanTech organizations, Merriman Curhan Ford is delighted to be White Energy's Principal American Liaison," Stephen Nash, Managing Director and Head of OTCQX Advisory at Merriman Curhan Ford, said. "Merriman has demonstrated its dedication to helping ASX-listed companies access the U.S. capital markets. White Energy's OTCQX listing marks Merriman as the leading advisor for Australian OTCQX listed companies."

White Energy Company's ADRs will trade in the United States on International OTCQX under the ticker "WECFY," where each ADR will represent five ordinary shares. White Energy Company's shares are also listed on the Australian Securities Exchange (ASX). The company's headquarters are in Sydney, Australia.

About White Energy Company Limited

White Energy is the exclusive worldwide license holder of the Binderless Coal Briquetting process that upgrades relatively low quality coal to significantly increase its energy efficiency. The process was developed by Commonwealth Scientific Industrial Research Organisation in conjunction with TraDet Inc, K.R. Komarek Inc and The Griffin Coal Mining Company Pty Ltd. The patented process involves the crushing, drying and briquetting of high moisture coals, resulting in the reduction of the moisture content of the coal and converting the product into a higher energy content, stable briquette. The advantages of the White Energy process involve creating a higher energy value coal, creating a physically and chemically stable product, significantly enhancing coal transportation efficiencies and creating a higher energy value release with lower carbon emissions. The process has been shown to be cost and operationally superior to competing technologies.

The White Energy technology represents a first step in building a cleaner coal solution. White Energy is committed to delivering cleaner coal technologies with a view to ultimately achieving zero emission targets.

White Energy is in the process of commercializing this binderless coal briquetting technology and is currently constructing a commercial one million tonne per annum plant in Indonesia in joint venture with Bayan Resources. The Company also has a joint venture agreement with Adaro Group, one of Indonesia's largest coal companies and Itochu Corporation, a major Japanese trading house respectively, to build additional coal upgrading plants in Indonesia. Further, White Energy has signed a Heads of Agreement with Datang International Power Generation Company in relation to the development of coal upgrading plants in China. Most recently, the Company has entered into a development agreement with NRG Energy and Buckskin Mining in respect of a potential project in Wyoming, USA. In addition to these projects, the company is actively pursuing opportunities to deploy its technology across various markets including USA, Indonesia, China, India, Mongolia and Africa. For more information: www.whiteenergyco.com.

About Merriman Curhan Ford

Merriman Curhan Ford (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions who invest in them. The company offers high-quality investment banking, equity research, institutional services, primary market research, asset management and corporate & venture services, and specializes in four growth industry sectors: CleanTech, Consumer/Internet/Media, Health Care and Tech/Telecom. For more information, please go to www.mcfco.com.

About International OTCQX

International OTCQX provides a gateway to U.S. securities markets for international companies that are listed on a qualified non-U.S. exchange and provide ongoing disclosure in English to U.S. investors. More importantly, International OTCQX distinguishes the reputable international issuers from the 8,000 over-the-counter (OTC) securities traded in the U.S. Only leading companies that have substantial operating businesses and provide credible disclosure to the public are eligible for inclusion on the premium-tier International OTCQX, which commenced trading on March 5, 2007. For more about International OTCQX, visit www.otcqx.com.

About Pink OTC Markets Inc.

Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. We create innovative technology and data solutions to efficiently connect market participants, improve price discovery, increase issuer disclosure, and better inform investors. Pink OTC Markets operates the third largest U.S. equity trading venue which includes both the elite OTCQX market tiers for strong OTC-traded companies that can satisfy financial and disclosure listing standards and Pink Sheets for all other OTC quoted securities.

Over 230 financial service firms, including the ten largest U.S. investment banks, actively make markets in OTCQX and Pink Sheets quoted securities and in 2007 these firms traded over $160 billion of OTCQX and Pink Sheets securities. Pink OTC Markets offers widespread access to all U.S. broker-dealers, enabling investors to seamlessly trade these securities through their institutional, online, or full service brokers.

Pink OTC Markets is headquartered in New York City.

To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.pinksheets.com and www.otcqx.com or contact us at info@pinkotc.com.

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SOURCE: Pink OTC Markets Inc.

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