ZIMI LIMITED — Call Transcript 2013

Mar 26, 2013

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WHL Energy Ltd ABN: 25 113 326 524 Level 2, 22 Delhi Street West Perth, WA 6005 P.O. Box 1042, West Perth Western Australia 6872 T: +61 8 6500 0271 F: +61 8 9321 5212 www.whlenergy.com

ASX/MEDIA RELEASE 27th March 2013

MANAGING DIRECTOR INTERVIEW WITH BRR MEDIA

Highlights:

• Seychelles Farmin Letter of Intent Executed

Australian energy company WHL Energy Limited ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) is pleased to provide an opportunity for investors to hear an interview by the Company’s Managing Director Mr Steve Noske, regarding the execution of the Seychelles Farmin Letter of Intent. The interview with Mr Noske was recorded by BRR Media and can be accessed through the following link;

http://www.brrmedia.com/event/110640

Alternatively, the interview can be accessed by visiting the Company’s website and following the link from the Investor tab on the homepage (www.whlenergy.com). A copy of the transcript from the interview is also attached for those without internet access.

Ends

FURTHER INFORMATION Shareholders/Investors: Media contact: David Rowbottam Colin Hay WHL Energy Ltd Professional Public Relations T: +61 8 6500 0277 T: +61 8 9388 0944 E: contact@whlenergy.com E: colin.hay@ppr.com.au

About WHL Energy Limited

ASX-listed WHL Energy Ltd (ASX: WHN) is an oil and gas exploration Company focussed on East Africa.

The Company’s “flagship” project is its 17,345 km[2] exploration area offshore Seychelles, owned 100% by WHL Energy. A highly material exploration portfolio and new exploration concepts are being matured in the acreage based on new seismic data. The Company is progressing a farmin proposal from a Global Fortune 500 Company before reviewing the timing of the planned exploration drilling program

WHL Energy also holds 100% equity in Exploration Permit VIC/P67 in the offshore Otway Basin, approximately 200 km WSW of Melbourne off the Victorian coastline. VIC/P67 contains the undeveloped La Bella gas field in proximity to the Victorian gas market, and several nearby exploration prospects.

The Company in addition holds 33.33% equity in exploration permit WA-460-P, in the offshore Southern Carnarvon Basin, which contains an extension of the very large Palta Prospect. A Shell led Joint Venture has commenced drilling the Palta-1 well in the adjacent block, with an expected completion in Q1 2013.

The Company is also actively investigating growth opportunities in the wider East African region.

LETTER OF INTENT EXECUTED FOR FARMIN TO WHL ENERGY’S SEYCHELLES ACREAGE

Steve Noske, Managing Director of WHL Energy Limited

BRR Good afternoon and welcome to BRR Media. Today I'm speaking with Mr Steve Noske, who is the Managing Director of WHL Energy. Steve good to talk to you today.

SN Thanks Andrew and good to be here.

BRR Now Steve, WHL Energy has come out of a trading halt today to make quite a significant announcement relating to your Seychelles oil and gas project. Can you please tell listeners what the announcement relates to and what it means for WHL Energy and its shareholders?

• SN Thank you Andrew, WHL has been working for some time to bring in what we would like to think is a substantial partnership into the Seychelles for the good of ourselves, but also for the good of the country. And today we announced the execution of a LOI and to give you a sense of what that means is in a process of a farm out at this stage you go to either an offer and acceptance document, or an LOI from our point of view it's the same thing. The LOI's been executed and we're working with the party now to clear a number of condition precedents. So the LOI is always non-binding at this stage and we've got a couple of conditions to work through. Importantly what it means for shareholders is that we have a partnership in place that's worthy of the Seychelles, it is a Fortune 500 company as we've mentioned in our ASX release today, and we'll move through the rest of March and into April to clear a number of conditions and those conditions relate to Government approvals and other things, but what I can say is importantly the company that we've been working with has been looking at us and looking at the Seychelles for a number of months now, that's the process that happens as part of due diligence and we have largely completed the technical due diligence and the commercial negotiations. So we have made a substantial progress in the Seychelles, we believe we've brought an organisation to the Seychelles that's worthy of the prospectivity of the region, we're looking forward to working with the Seychelles Government to get their approval and their comfort with the work program going forward and I look forward to updating shareholders in more detail when I can.

BRR So are you able to reveal who the company is at this stage?

• SN Unfortunately I can't Andrew because we do have strict confidentiality requirements as part of our letter of intent. But as I say as we move forward through the farm out process and we move towards a binding farm in agreement, I hope at some stage in that process we've cleared a number of the condition precedents to a point that both organisations are comfortable to release their names and a little bit more details about the deal. So whilst without putting a timeline on it, we've got a bit of work to be done in April and maybe at some stage towards the back end of April we'll be able to give the market a much more of a detailed update.

• BRR So what will the successful conclusion of a farm in agreement for your Seychelles project mean to WHL Energy and its shareholders?

SN There's a couple of good points that come out of a farm out in the Seychelles. The first point being is it brings, as mentioned before, the large organisation into a partnership with WHL Energy, it brings a level of credibility to that asset that we've been looking to demonstrate to the market by getting the partnership in place. So the Seychelles has interesting geology and so I think we're starting to see that geology and the prospectivity of that area being ratified by the fact that we're starting to get you know partnerships in place as a company but also bringing large organisations to the Seychelles. The other important aspect of it is that whilst we can't go into the commercial terms of the deal at this stage, because as I said they're still subject to confidentiality and a number of conditions, the partnership will strengthen our balance sheet so we're quite happy with an outcome that enables us to be a stronger company going forward. And the other part of our business strategy has been to grow our business in the Seychelles so we're looking to work with the partner to see what opportunities may have to grow our business even further than the Seychelles.

BRR Excellent. Steve thank you very much for your time today, good luck and we look forward to hearing more of the WHL story very soon.

SN Thanks Andrew.

BRR And as always if you did have a question for Steve, please email us on brr@brrmedia.com.