ZIMI LIMITED — Capital/Financing Update 2008

Nov 19, 2008

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WHL Energy Ltd

Level 56, MLC Centre 19-29 Martin Place Sydney NSW 2000 Australia P: +61 2 9238 6340 F: +61 2 9238 6363 www.whlenergy.com

STRONG PHASE 1 RESULTS FROM WHL ENERGY’S KENTUCKY GAS PROJECT

Sydney, November 20, 2008 – WHL ENERGY Limited (ASX: WHN, the “Company”) reports that interim results from the initial “Phase 1” development program for its Kentucky Appalachian Shale Gas Property (the “Kentucky Property”) in joint venture with the property’s operator, Gale Force Petroleum Corporation (‘Gale Force’), indicate large potential gas reserves and demonstrate robust economics at current NYMEX gas prices justifying larger scale development of the property.

The Kentucky Property was acquired by the joint venture partners last July and includes nine (9) existing wells on the 22,000 acres of leased land. In September, the Company announced that the joint venture had reentered and commenced natural gas production from 4 of the 9 existing wells that had already been completed.

The remaining 5 of the 9 wells have now been completed using fracture stimulation on the gas-rich intervals within the shallow Devonian Shale. The initial test flow-rate results from these 5 wells show that an average vertical well drilled on the Kentucky Property will recover drilling capital cost within 2 years assuming an average $7.00 per mcf NYMEX gas price, and provide an annual projected internal rate of return payback of approximately 50%.

The recent work-over and completion program indicates that the property is likely to produce consistent, low risk natural gas corresponding to the homogeneous log and core data collected across the entire property’s shallow Devonian shale. With more than 200 potential drilling locations identified next to the existing infrastructure, the Kentucky Property is an excellent candidate for a low-cost, multi-well drilling program designed to generate cash early in the project’s development.

Larry Podrasky, CEO of the Company, stated that “the initial test flow-rates are quite encouraging and indicate that the Kentucky Property is capable of generating significant cash flow when developed on a larger scale.”

The joint venture will now tie-in the newly completed 5 wells to deliver gas into the regional gas pipeline. The joint venture further intends to drill and core additional wells on the property and use alternative exploitation techniques such as horizontal drilling, underbalanced drilling and open-hole completions, all of which are likely to improve the development template for the Kentucky Property, permitting accelerated recovery of the gas resource and creating a higher net asset value of reserves.

WHL Energy Limited is a diversified energy company focused on developing wind power in the UK and exploiting unconventional oil & clean gas resources in mature basins in the USA.

For more information, please contact:

Larry Podrasky, Executive Chairman and CEO, 02-9238-6342