American Energy Partners Inc (AEPT)

[swim]

update out...(not sure why they used the word "pleased"...

W2 Energy Inc. Issues Update on Joint Venture Projects


2008-12-10 12:38 ET - News Release

TORONTO -- (MARKET WIRE) -- 12/10/08


W2 Energy Inc. (PINKSHEETS: WTWO) is pleased to provide this update on the status of its joint venture projects with both Cobal Chile and Better World Energy.

On July 22, 2008, the Company announced that it had received a purchase order from Combustibles Alternativos (Cobal) Chile for a waste-to-energy plant that they expected to install by the end of 2009. To date, the Company has not received a deposit, and thus has not started to design the plant or recognize any revenue from the project. Cobal has experienced a delay in obtaining the necessary financing for the project.

On July 30, 2008, the Company announced that it had received a purchase order from Better World Energy for a waste-to-energy plant in Thailand. Although the Company issued an invoice to Better World, the Company has not received a deposit, and thus has not started to design the plant or recognize any revenue from the project. Better World has also experienced a delay in obtaining the necessary financing for the project amid the tumultuous political environment in Thailand.