Ann: Quarterly Activities Report and Appendix 5B, page-6

African Carbon Energy was established in 2007 as a BEE South African mining and minerals solutions company in order to fulfil the need for a diversified commodities technology supplier in Southern Africa.The company has available expertise in mining, exploration, gasification and specifically Underground Coal Gasification (UCG) and our business philosophy then was to support equity investments with operational involvement.In 2009 Africary supported Australian ASX listed Wildhorse Energy with investment, technology and management skills for a UCG Project in Europe.African Carbon Energy is a multifaceted resource and technology company and owns several energy related interest in Southern Africa.In 2012 Africary diversified and bought a massive coal resource from BHP Billiton SA that is ideally suited for UCG. Our business philosophy grew to invest and develop our own UCG to Power project.

http://www.africary.com/