Bandanna Energy Limited (ASX:BND) Wiggins Island Coal Export Terminal Development

Brisbane, Dec 17, 2009 AEST (ABN Newswire) - Bandanna Energy Limited (ASX:BND) is pleased to advise that Wiggins Island Coal Export Terminal ("WICET") has announced the go-ahead for the next phase of development of the terminal at the Port of Gladstone. This follows the execution of a Framework Deed with the Queensland Government and Gladstone Ports Corporation.

Bandanna is one of the 18 producer members of WICET and this announcement marks an important step in developing significant new port capacity which will be vital to the development of the coal industry in the Bowen Basin generally, and specifically to development of Bandanna's projects within the "Golden Triangle".

WICET has advised that it is working towards a financial close in July 2010 which would see initial port operations during 2013. The new terminal will have an ultimate capacity of around 70 Mt pa for export coal.

Bandanna is progressing its project evaluations with a view to participating in the Wiggins Island development.

Contact

Dr Ray Shaw Managing Director Tel: +61-7-3041-4400 Fax: +61-7-3041-4444