West Hawk Development Corp.

West Hawk Development Corp.

February 27, 2008 09:00 ET

West Hawk Signs Agreement with Power Ecalene Fuels to Market and License Advanced Syngas Liquids Conversion Technology in China and North America

DENVER, COLORADO--(Marketwire - Feb. 27, 2008) - USA: West Hawk Development Corp. ("West Hawk") (TSX VENTURE:WHD)(FRANKFURT:H5N) (the "Company") is pleased to announce that following the Press Release dated November 28, 2007, where the Company stated that it was evaluating all gasification technologies, that it has signed an agreement with Denver, Colorado based Power Ecalene Fuels, Inc. (PEF) to exclusively market and license PEF's advanced coal/biomass Syngas to liquids conversion system. The coal feedstock is the base for West Hawk as it has coal available in various regions within North America and has access to coal via its partner Luan in China. Also the potential exists to commercialize and develop projects with this technology in Latin America and Europe. PEF's technology is an efficient system that converts the syngas to liquids, with the design based mainly on jet fuels, ethanol and high quality alcohols. This technology will meet all the Kyoto environmental standards.

Under the terms of the agreement West Hawk will market and license PEF's technology in Colorado, West Virginia, Wyoming, Arkansas, and Oklahoma in the United States. In Canada, West Hawk will market and license the technology in British Columbia, Alberta, Northwest Territories, and Nunavut. It is West Hawk's intent to utilize PEF's technology at each of the Company's coal properties, where West Hawk has substantial coal feedstock, to produce clean energy as premium liquids such as jet fuel and ethanol.

Additionally, West Hawk will market and license the PEF technology in Asia with initial focus in the Shanxi Province and the Xinjiang Autonomous Region in China, and then Taiwan and Inner Mongolia. It is also West Hawk's intent to supply this technology to two plants in China, owned by Lu'An, when final demonstration tests have been completed.

Currently, PEF is in the process of constructing a demonstration plant in the United States in order to advance the commercial status of the technology. West Hawk is planning to make an equity investment in the demonstration plant in order to have a showcase facility for future customers and investors.

"PEF technology is a liquids technology in which West Hawk has confidence and it will be part of the backbone of the Company's coal gasification to premium liquids program around the world. PEF technology will process the syngas from the coal/biomass and will convert it to premium liquids fuels. This PEF process technology of Coal to Liquids will give West Hawk strength in the development of our various coal projects." commented Gonzalo Torres Macchiavello, President & CEO of North American Operations.

"We are very excited with this coal to liquids processing package. It is our intent that this technology will be part of the project that we intend to develop with Lu'An in China. The liquid fuels market has increased significantly in China in the past several months and the trend will continue to grow," said Dr. Jinsheng Chen, President & CEO of Asian Operations.

The strategic alliance with PEF closes the technological loop of the Coal to Liquids process enhancing and materializing West Hawk's focus in coal to synthetic fuels production. West Hawk's revenue stream will result from the sale and licensing of each syngas to liquids unit, while other revenue sources will originate from the sales of products from West Hawk's coal properties and gasification facilities (energy products such as jet fuels, ethanol and other high quality alcohols). West Hawk sees other applications for clean advanced syngas to liquids technology in waste management and the oil sands.

"We are extremely pleased with our partnership with West Hawk. We believe that West Hawk's management team has the technical and commercial knowledge necessary to advance the PEF patented technology and this is a real addition to PEF's development and commercialization. We are working diligently to complete our showcase facility in the United States in the upcoming months" stated Gene Jackson, Chairman of Power Ecalene Fuels, Inc.

On behalf of the Board of Directors,

Dr. William Mark Hart, President and Chief Executive Officer

About the Company: West Hawk Development Corp is focused on providing valuable, high-demand clean energy products from a variety of sources. Assets include the Figure Four natural gas property located in the Piceance Basin, Colorado, being developed under a drilling and development agreement; the Groundhog coal property located in northwest British Columbia; the Tulita coal property in the Northwest Territories; and the Ellesmere Island, Nunavut Territory coal property.

About Power Ecalene Fuels, Inc: PEF is an advanced syngas to liquids technology with special focus on the premium liquids spectrum. PEF has developed advanced technology to convert syngas from different feedstock to high quality fuels like jet fuel and ethanol. This process is patented by PEF.

Cautionary Note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specially noted, are considered speculative. The Company has filed a National Instrument 51-101 Report on the Figure Four property. The Company has filed National Instrument 43-101 Reports for each of the Tulita coal property in the Northwest Territories, the Nunavut Coal property and the Groundhog Coal property. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary note to U.S. investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.


Contact Information

  • West Hawk Development Corp.
    Dr. William Mark Hart
    President and Chief Executive Officer
    (303) 357-4720
    (303) 357-4726 (FAX)
    Website: www.westhawkdevelopment.com