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MEDIA RELEASE
13 December 2007
East Energy A$4.5M IPO closes fully subscribed - work on QLD coal tenements to commence immediately

Perth-based coal exploration company East Energy Resources (East Energy) has closed its Initial Public Offer (IPO), successfully raising $4.5 million ahead of its listing on the Australian Securities Exchange (ASX).

East Energy has been given a tentative listing date of 19 December 2007.

The float will help fast track the company’s exploration and development activities at its two recently acquired coal projects in Queensland – Norwich Park in the Bowen Basin and Blackall, in the Adavale Basin (see attached map).

The company intends to undertake the exploration work on the projects with the aim of further defining the coal measures and proving up a coal resource in accordance with the JORC code.

The offer, which closed fully subscribed on 1 December 2007, issued 18,000,000 shares at $0.25 each.
East Energy Non-Executive Chairman Mr Terence Byrt said that geological fieldwork had commenced on its granted tenement Norwich Park EPC 1066. Further exploration and Drilling would commence at Norwich Park in the first quarter of next year.

“We are ramping up exploration on both our tenements next year with 10,000 metres of drilling planned for our 803km2 Norwich Park project and a full desk top review of the thermal coal exploration program carried out on our 900km2 Blackall tenement in 1974,” Mr Byrt said.

“We’ve also budgeted for drilling to commence at the Blackall project EPC 1149 once granted in the new year, which we given our success in securing uninterrupted access to drill rigs and geological staff in the region.”
East Energy has secured exclusive use of drill rigs and technical staff through an agreement with QLD based company Ansett Mining Corporation Limited.

The listing will be Chairman Terry Byrt’s second project since taking Perth-based explorer RMA Energy (ASX:RMT) public in May last year – a listing recognised as one of the most successful listings of 2006, closing at a 240% premium to its issue price.

Mr Byrt has spent over 10 years accumulating tenements in Queensland before vending a large portion of them to RMA, and now East Energy Resources.
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His strategy is to identify mature and acquisition opportunities which he believes have the potential to host significant mineralisation and potential mining opportunities.

East Energy has also recruited Mark Basso-Brusa as Managing Director and Clive Triplett as Executive Director.
Mr Basso-Brusa has a Bachelor of Engineering and was involved in the design and construction of the Perth International Airport, LNG Storage Tanks on the Burrup and HV Substations Cape Lambert.

Mr Triplett is the Managing Director of RMA Energy and has headed private companies in the areas of consulting, international trade, finance and infrastructure development.

He has an extensive network of high-level contacts in both government and the private sector and has negotiated and secured international trade and mining agreements and formed and operated several joint ventures within budgetary requirements.

ENDS
For further information please contact:
Mark Basso
Managing Director
Tel: 08 9225 5833
David Tasker
Professional Public Relations
Tel: 08 9388 0944/ 0433 112 936
Website: www.eastenergy.com.au