OWNERS

The owners of the Vasse Coal Project hold their interest in an unincorporated joint venture structure – with Vasse Coal Management Pty. Ltd. as the Manager of the Joint Venture.

1. South West Coal Pty. Ltd. is a wholly owned subsidiary of the AMCI Group which was bought in Feb 2007 by Brazil CVRD, the worlds biggest iron ore miner and one of the worlds top 10 largest coal producers in the world!

2. Vasse Coal Pty. Ltd. is a privately owned Australian Company

3. LD Operations Pty. Ltd. has been hired by these companies to facilitate the mine approvals, feasibility and mine development of the project.

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