White Energy : Placement under Listing Rule 7.1 1907049

ASX Release

5 March 2019

The Manager - Company Announcements Office Australian Securities Exchange

PLACEMENT UNDER LISTING RULE 7.1

White Energy Company Limited (ASX: WEC; OTCQX:WECFY) ("White Energy" or "the Company") is pleased to announce the execution of a term sheet for a placement to a professional investor.

The placement is to an unrelated party, who is a current major shareholder, and will be made under White Energy's current Listing Rule 7.1 capacity.

The Placement is at 7.0 cents per share, for 20 million shares, raising $1.4 million (before costs).

The indicative timetable showing the remaining key dates for the Placement is set out below.

Activity	Date
Settlement of Placement	Monday, 11 March 2019
Allotment of New Shares under the Placement	Tuesday, 12 March 2019

Notes:

All references to time are to the time in Sydney, New South Wales.

This timetable is indicative only and subject to change. The WEC Directors may vary these dates, subject to the ASX Listing Rules.

An Appendix 3B will be released in due course to confirm finalisation of the placement.

For Further Information Call:

Brian Flannery

Managing Director & CEO White Energy Company Limited + 61 7 3229 9035

Level 7, 167 Eagle Street BRISBANE QLD 4000Tel [phone]Fax [phone] Email:[e-mail]:www.whiteenergyco.comABN 62 071 527 083

ASX Release

Forward Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the

Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.

Level 7, 167 Eagle Street BRISBANE QLD 4000Tel [phone]Fax [phone]

Email:[e-mail]:www.whiteenergyco.comABN 62 071 527 083