ZIMI LIMITED — AGM Information 2012

Nov 21, 2012

==> picture [107 x 40] intentionally omitted <==

WHL Energy “Poised to deliver sustained growth” Shareholder AGM 22[nd] November 2012

==> picture [720 x 129] intentionally omitted <==

==> picture [695 x 497] intentionally omitted <==

----- Start of picture text -----

WHL Energy – Australia and Seychelles oil and gas portfolio
Seychelles 100% Perth Head Office
La Bella 100%
WA – 460-P 33%
----- End of picture text -----

Business Plan – achievable goals with a strong capital position

==> picture [107 x 40] intentionally omitted <==

Project finance to underpin a development in Vic/P67

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2014 2015

Q1 Q2 Q3 Q4 2016

3D Seismic Seismic 1 for 4 option program Seychelles forward work program funded through JV Seychelles forward work program funded through JV Position Company to expand in Seychelles Capture expanded regional footprint with JV partner Fast track first gas Work program and development timing subject to JV agreement and exploration success Farm-out campaign Seychelles Interpretation Farm-out campaign Vic/P67 Interpretation Vic/P67 forward work program funded through JV Drilling & Development planning Project development Drilling window

WA-460-P near field WA-460-P forward work program requires drilling (Palta) by minimal funding circa A$350K Shell Drilling success at Palta will open up divestment opportunities Organic portfolio growth Other Growth Opportunities

3

Vic/P67 – potential to deliver significant value.

==> picture [107 x 40] intentionally omitted <==

WHL Energy has strong corporate knowledge in SE Australian gas opportunities

In 2H 2011 the Vic/P67 acreage was identified and having strong industry awareness, prospectivity and value

Our bidding strategy reflected our knowledge of the opportunity and our competitors.

Our growth in the equity markets coupled with our creditability as Operator in the Seychelles demonstrated financial and technical competence to the Australian Regulator

Planning for Q2 3D Seismic initiated. Tendering complete bids received and under review. Environmental and stakeholder processes commenced

Strong Industry attention supports advanced work program

Ongoing geological review and South East Australian gas price forecasts support WHL Energy’s view of value

WHL Energy formally awarded Vic/P67 in May 2012

WHL Energy formally commences farm-out process in September 2012

Our forward planning assumes the immediate 2013 work program to be fully carried (at a minimum)

4

WHL Energy – “An eye to production” La Bella Gas Field, WHL Energy 100%

==> picture [107 x 40] intentionally omitted <==

==> picture [284 x 221] intentionally omitted <==

----- Start of picture text -----

Highlander
Mussel Updip
Lowlander B
La Bella
Gas Field
West La Bella
Lowlander A
----- End of picture text -----

==> picture [284 x 189] intentionally omitted <==

	Gas(PJ) 2C Contingent Resource Condensate(MMstb)	Gas(PJ) 2C Contingent Resource Condensate(MMstb)
	Gas(PJ)
La Bella	158	1.2
Exploration Leads
Highlander(V11-2)	78	0.8 1.2 0.1 1.3 0.3
Lowlander A	145
Mussel Updip (V11-2)	21
Lowlander B	215
West La Bella	51
Unrisked Exploration	510	3.7
	Gas(PJ)
Unrisked Total	668	4.9

• 158 PJ (~bcf) gas in proximity of 3 producing projects

• Multiple commercialisation pathways

• Dynamic SE Australia gas market

• Production targeted for 2017

• Provides a line of sight to production and plays to WHL Energy’s strengths in Australia

5

WA-460-P exposure to high risk/reward drilling by Shell

==> picture [107 x 40] intentionally omitted <==

==> picture [540 x 401] intentionally omitted <==

----- Start of picture text -----

o Exposure to Shell Palta-1
Year 1 (2012) Geotechnical Studies •
Year 2 (2013) 92 km 2D Reprocessing 460-P (~20%)
Year 3 (2014) 81 sq. km. of 3D seismic and 9.2 km 2D seismic
•
•
WA-460-P
Palta structure
WA-
460-P
----- End of picture text -----

• 2.5 Tcf of 13.5 Tcf Palta gas prospect lies in WA460-P (~20%) (WHL Energy interpretation)

• Palta-1 drilling commenced by Shell

• WA-460-P offers exposure to a high impact well

==> picture [79 x 130] intentionally omitted <==

----- Start of picture text -----

WA-460-P
Palta structure
----- End of picture text -----

Palta drilling ongoing over Q4 2012 – a chance for a significant resource

6

WHL Energy and the Seychelles - an emerging oil play

==> picture [670 x 402] intentionally omitted <==

----- Start of picture text -----

“ p pp u
KENYA
 Strong and supportive government relations
WHL – SEYCHELLES
TANZANIA  Attractive fiscal terms
(100%)
• Contractor take circa 50%
•
Top industry quartile
•
Pragmatic, business – oriented government
MOZAMBIQUE
 Strategic 17,345 km² acreage position
 Modest work commitments
•
MADAGASC Main items 2,000km 2D seismic and 1 well
AR
 Giant scale structures
 Emerging deep water potential being documented
 Advanced targets drillable with a conventional jack up
•
(well costs <$20 million)
----- End of picture text -----

Seychelles farm-out campaign

Action taken

Past status

• Strong unsolicited approaches over early 2011 by industry majors to view the new Seychelles seismic encouraged WHL Energy to undertake an “early” farm-out campaign starting in Oct 2011

• Full geological interpretation, test seismic re-processing and “technical overhaul” undertaken and near completion (Jul 2011 to Sept 2012)

• Company’s initial early farm out campaign unsuccessful due to:

• Work program renegotiation with PetroSeychelles complete yielding a forward work program aligned with the industry expectations

• Technical maturity of the opportunity at the time was insufficient to support the level of expenditure required by the forward work

  • Ongoing discussions with potential partners are continuing

• programme

• Technical issues being addressed

• With the above completed, new partnering initiatives have commenced and are advanced in some cases

• Work program obligations being renegotiated

• targeting “like-minded” partners

==> picture [107 x 40] intentionally omitted <==

Objective

• Deliver a partnership that funds the forward work programme and looks to leverage off the WHL Energy regional knowledge to grow its acreage position in the Seychelles

  • Dataroom open with multiple companies active including returning companies.

• Africa Oil Week conference Cape Town – very successful

8

Realising the value of our Seychelles portfolio

==> picture [107 x 40] intentionally omitted <==

Recent activities in East Africa coupled with geological merit of our acreage provides confidence in realising a preferred partnership in the region.

The Company is in discussions with multiple parties with some advanced. The Company has re-opened its dataroom post the Africa Oil Week Conference as planned

Access to this data may impact on bidding strategies and will be valuable to winners of deep water blocks -> farm-out to potential bidders/winners

WHL’s well data expected to be valuable to the deep water

The expected Seychelles Open Acreage Bid Round has already focused Industry attention on the Seychelles & on WHL Energy’s intellectual property linked to our acreage

Considerable level of regional knowledge and intellectual property has been built-up within the Company

WHL Energy has undertaken substantial original work to develop the exploration potential of the Seychelles

9

WHL Seychelles – The Breakthrough Studies

==> picture [107 x 40] intentionally omitted <==

WHL Energy has completed the first major, integrated interpretation of the petroleum potential of the Seychelles in the history of this frontier exploration province

WHL’s Breakthrough Studies have leveraged :

• A step change in seismic coverage and imaging quality provided by the 19,544 km Fugro

• 2D survey that became available in mid – 2011

• Increased access to regional geological and geophysical information resulting from the

• acceleration of industry activity in East Africa.

This under explored province now has the framework of data and geoscience investment for its high potential to be revealed and the risks understood

• WHL’s investment of over 4.5 man years of geoscientific work.

==> picture [225 x 236] intentionally omitted <==

==> picture [222 x 234] intentionally omitted <==

10

WHL Energy Seychelles “Correira Basin – a new petroleum province”

==> picture [107 x 40] intentionally omitted <==

==> picture [652 x 428] intentionally omitted <==

----- Start of picture text -----

90 Ma
T e r t i a r y P o s t r i f t C a r b o n a t e s
Turonian
Somali
rifting
(EJ)
I n d i a
Mascarene
rifting
Intra Palaeocene-Base Toarcian
Isopach o Expanded Cretaceous section
mapped on south eastern flank of
Seychelles platform
o Mascarene syn-rift
o Thick marine shale source rock
o Paleocene loading
o New cretaceous basin “Correirra
Basin” a new petroleum province
Correira Basin o Oil play
----- End of picture text -----

• Expanded Cretaceous section mapped on south eastern flank of Seychelles platform

• Mascarene syn-rift

• o Thick marine shale source rock

• New cretaceous basin “Correirra Basin” a new petroleum province

• o Oil play 11

Seychelles reconstructed – relationships to East Africa and NW India petroleum systems now able to be mapped

==> picture [107 x 40] intentionally omitted <==

==> picture [688 x 432] intentionally omitted <==

----- Start of picture text -----

NW India syn-rift deposition
Pre-rift Karoo sediment deposition
Seychelles Separation of India & Seychelles
Litho & Chronostratigraphy
D
Late Triassic - Early Jurassic A C Early Palaeocene D
B
A
Early – Mid Jurassic B “Mid” Cretaceous
C
Seal
Somali rift deposition Source Rock Mascarene rift deposition
Onset of east & west Gondwana Reservoir Separation of Madagascar & India-
separation Seychelles
----- End of picture text -----

Seychelles – multiple petroleum systems

==> picture [107 x 40] intentionally omitted <==

==> picture [628 x 400] intentionally omitted <==

----- Start of picture text -----

Mid – Jurassic Source
Oil source rich
half graben basins
perched within the oil
80 km
SW window
NE
Owen Bank-A1
TWT
(SEC) NW Indian Ocean Postrift Tertiary Carbonates
1.0
Mascarene
2.0
Synrift KAROO SEQUENCES
Triassic – Early Jurassic reservoir
Mid – Creatceous Widespread Karoo, thick, good quality
3.0 Untested basin Sandstone reservoirs confirmed by well
sequence with source – control:
reservoir affinities to  Ø ( 12% - 20%)
NW India  K ( ’ f mDs)
4.0
2D Seismic Line SY10-008
----- End of picture text -----

13

WHL Seychelles- untested giant - scale structures

==> picture [107 x 40] intentionally omitted <==

==> picture [608 x 398] intentionally omitted <==

14

Oil prone rocks in kitchen areas that have not been too deeply buried and remain in the oil window

==> picture [107 x 40] intentionally omitted <==

==> picture [333 x 434] intentionally omitted <==

----- Start of picture text -----

WHL
WHL
WHL
----- End of picture text -----

Cretaceous source – facies distribution also reflects thickening section to the south and east

A Twin source system that has matured post structuring and trap creation. Source character geochemically matched to control well oil shows (Reith Bank-1) and common seeps (tar balls and strandings).

15

==> picture [107 x 40] intentionally omitted <==

WHL Seychelles – composite oil charge and accumulation model

==> picture [648 x 413] intentionally omitted <==

----- Start of picture text -----

Turonian and
Beau Vallon Cenomanian SRs
Prospect TOC = 4.0% HI = 350
Limit of HC Expulsion Type II/III = 70/30
from Turonian plus Cenomanian SR
between 65-0 Ma
Junon
South & East
Prospects
Oil 441 mmbbls
Gas 0.22 TCF
Column Ht 300m 50 km
HC Budget based on HCs expelled
from Turonian SRs between 65-0 Ma
Migration losses 1.0 mmboe
Seal Capacity equivalent to
Oil 983 mmbbls
300m HC column-height
Gas 0.49 TCF
Column Ht 300m
----- End of picture text -----

16

Oil prone – Seychelles shows and source rock pairings have analogues in Madagascar and sub the Rovuma Delta

==> picture [107 x 40] intentionally omitted <==

==> picture [668 x 407] intentionally omitted <==

----- Start of picture text -----

Reith Bank-1
SANDSTONE WITH MODERATE-GOOD OIL Jurassic (Somali rift) source rocks in Owen Bank –A1 geochemically typed and
SHOWS match :
 Reith Bank-1 oil shows
2041m  Beau Vallon Bay tar balls
2041m Coetivy Bank Tar balls geochemically typed to a Cretaceous marine source :
 WHL posits the Cretaceous basin in the southeast and east Seychelles
Reith Bank-1
KENYA Oil Shows SEYCHELLES
SANDSTONE WITH GOOD OIL
SHOWS WHL Acreage
Tar Balls
SANDSTONE WITH GOOD OIL TANZANIA
SHOWS
SANDSTONE WITH MODERATE-GOOD OIL MOZAMBIQUE
Majunga Basin
SHOWS Rich Source Rocks
Bemolanga Oil Sands
2531m 16.6 Billion barrels in place
Tsimiroro Heavy Oil Field
9.3 Billion barrels in place
2531 Manandaza-1Oil Discovery
m
Meil SKL-2
Oil Discovery
----- End of picture text -----

Jurassic (Somali rift) source rocks in Owen Bank –A1 geochemically typed and match :

Coetivy Bank Tar balls geochemically typed to a Cretaceous marine source :

• WHL posits the Cretaceous basin in the southeast and east Seychelles

17

WHL Seychelles – continuing to build the leads and prospects inventory

==> picture [107 x 40] intentionally omitted <==

==> picture [592 x 360] intentionally omitted <==

----- Start of picture text -----

Play concepts Cretaceous shelf
Sub Seychelles platform sand
Deep water
Palaeocene-Upper
Cretaceous pinchout/onlap
Karoo
Cretaceous incised
valley sands
Cretaceous
turbidite Fractured
basement
Advanced play mapping
Cretaceous
transgressive sands Emerging play mapping
----- End of picture text -----

Possible Hydrocarbon accumulations

WHL Seychelles – an extensive leads and prospects inventory

==> picture [107 x 40] intentionally omitted <==

==> picture [628 x 108] intentionally omitted <==

----- Start of picture text -----

Most structures are in < 50 m water The inventory already contains
with targets at < 2000m so Ten - 200MMBBLs plus potential targets
conventional Jack up drillable at and is being expanded to quantify the potential in
modest cost emerging concept areas
----- End of picture text -----

==> picture [328 x 300] intentionally omitted <==

19

The Seychelles - an emerging oil play

==> picture [670 x 402] intentionally omitted <==

----- Start of picture text -----

“ p pp u
KENYA
 Strong and supportive government relations
WHL – SEYCHELLES
TANZANIA  Attractive fiscal terms
(100%)
• Contractor take circa 50%
•
Top industry quartile
•
Pragmatic, business – oriented government
MOZAMBIQUE
 Strategic 17,345 km² acreage position
 Modest work commitments
•
MADAGASC Main items 2,000km 2D seismic and 1 well
AR
 Giant scale structures
 Emerging deep water potential being documented
 Advanced targets drillable with a conventional jack up
•
(well costs <$20 million)
----- End of picture text -----

Near term objectives and news flow

==> picture [107 x 40] intentionally omitted <==

“WHL Energy’s focus - sustainable growth”

~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~	~~21~~ 2012 2013 2014 2015 / 2016 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H 2H 1H 2H Seychelles Partnering Seismic Studies Drill exploration well(Junon region) Australia Vic/P67 Farm-out 3Dseismic Drill Development First gas WA-460P Drill Palta prospect (Shell) Portfolio Development Growth opp East and West Africa Seychelles Partnering/farm-out Partnering/farm-out ~~Near term drilling~~ Seismic Company transformational drilling ~~Portfolio growth~~ ~~Over 2012 and~~ ~~2013 the Company~~ ~~plans significant~~ ~~growth~~
	Q2	Q3	Q4		Q1		Q2		Q3		Q4			Q1			Q2		Q3		Q4	1H	2H	1H	2H
Seychelles								Part	nering		/farm			-ou		t
Partnering
Seismic										Sei	smic
Studies
Drill exploration well(Junon region)																		Co	mpany		trans	forma	tional	drillin	g
Australia					Partne		ring/f		arm-o		u	t
Vic/P67 Farm-out
3Dseismic																			~~O~~			~~01~~		~~d~~
Drill																			~~v~~		~~er~~		~~an~~
Development																			~~2~~
First gas																			~~0~~		~~3 t~~	~~e~~	~~om~~	~~pa~~	~~y~~
**WA-460P **						~~N~~	~~t~~		~~dilli~~
Drill Palta prospect (Shell)					~~ea~~	~~ea~~	~~erm~~		~~rn~~		~~g~~								~~pla~~		~~ns~~	~~sig~~	~~ific~~	~~ant~~
																			~~gr~~		~~wt~~
Portfolio Development
Growth opp													~~P~~	~~rtfoli~~			~~grow~~		~~th~~
East and West Africa
Seychelles																									~~21~~

Disclaimer

==> picture [107 x 40] intentionally omitted <==

This presentation has been prepared by WHL Energy Limited (“WHL Energy” or the “Company”). It comprises materials for a presentation to investors and or industry professionals concerning the Company’s business activities. It should not be considered as an offer or invitation to subscribe for, or purchase any, securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.

This presentation contains forecasts, projections and forward looking information. Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of WHL Energy’s control. Actual results and developments will almost certainly differ materially from those expressed or implied. WHL has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. To the maximum extent permitted by applicable laws, WHL Energy makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for (1) the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this presentation and (2) without prejudice to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other forward looking information contained or referred to in this presentation.

Throughout this presentation all figures are quoted in A$ dollars unless otherwise stated. You should not act in reliance on this presentation material. This overview of the Company does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of WHL Energy’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision

Competent Person’s Statement

The information in this report has been prepared by WHL’s full time employee Matt Fittall (Exploration Manager); a person qualified to prepare information relating to reserves and /or resources in accordance with the Australian Securities Exchange Listing Rules.

22