ASENJO ENERGY ANNOUNCES POWER PROJECT IN RESPECT OF THE DUKWE PROJECT

Gaborone, 17 AUGUST 2010 - Asenjo Energy, comprising the joint venture between Aquila Resources, Jonah Capital and Sentula Mining, is pleased to announce that it has submitted a proposal to the appropriate authorities, the Mmamabula Coordinating Unit (MCU) in Botswana for the development of a mine/power station complex at Dukwe.

This project consists of a complex capable of supplying up to 600MW, phased up from an initial 200MW. A detailed pre-feasibility as well as a baseline Social and Environmental studies have already been completed in respect of an underground coal mine capable of producing up to three million tons per annum. The project is located in the Central district, in close proximity to the town of Sowa with excellent road, rail, and water and power infrastructure already in place.

It is envisaged the construction phase for this project will be approximately 48 months, with an additional period of approximately 12 months for completion of the appropriate EIA and financing arrangements.

The salient features of the detailed pre-feasibility study for the Dukwe colliery are as follows:

• An underground mine capable of producing 3Mtpa has been designed and proposed.
• The mine has been designed to supply either a raw or washed product to an adjacent power station of approximately 600MW in size.
• The raw product option offers a much more cost competitive alternative.
• Financial modeling and capital estimates indicate potential for a viable world-class operation in the lowest cost quartile of producers.
• The mine is currently capable of sustaining this production rate for a period in excess of 40years.
• As drilling density increases and coverage expanded there is good upside potential.

Further information can be obtained by contacting the Chief Operating Officer, Mr. Malcolm Campbell by phone at +267 316 1066 or alternatively by email at malcolm.campbell@asenjoenergy.com

Asenjo Energy’s Botswana Coal Projects

Aquila Resources Limited is a West Australian based mining company focusing on the bulk commodities utilised by the steel industry, being predominantly coal and iron ore. Aquila’s geographical focus is Australia and Southern Africa, and it has offices in Perth, Brisbane and South Africa. Aquila is listed on the Australian Securities Exchange (stock code AQA).

Sentula Mining Limited is a leading African mining services entity listed on the Johannesburg Stock Exchange (stock code SNU). The company contracts its opencast mining and exploration drilling services to many “blue chip” clients across the continent and recently entered the coal operations arena, through its acquired shareholding in Nkomati Anthracite and development of Indongo in Zambia.

Jonah Capital Limited is a private, pan-African investment company focusing on the mining, mineral beneficiation and mining services sectors. Jonah Capital is chaired by Sir Sam Jonah, KBE OSG, one of Africa's most prominent businessmen with a long and successful business track record and highly influential network. Jonah Capital embodies an entrepreneurial, opportunistic culture and seeks to create value through innovative investments in opportunities with exceptional growth prospects. Jonah Capital has a strong and experienced management team and a board of directors made up of prominent senior figures with experience and knowledge of Africa

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