ZIMI LIMITED — Capital/Financing Update 2009

Oct 15, 2009

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WHL Energy Ltd C/- Websters Solicitors ABN: 25 113 326 524 Level 11, 37 Bligh Street Sydney NSW 2000 Australia P: +61 2 9233 2688 F: +61 2 9233 3828 www.whlenergy.com

ASX/MEDIA RELEASE

Dated: WHN 16 October 2009

SIGNIFICANT OIL RESOURCE ACQUISITION IN KANSAS

• 100+ MM bbl OOIP potential as per Independent Geological studies.

• 7500+ acres have been secured in historically 2 x oil prolific regions (McCune & Walnut projects) with dozens of wells available for short-term recompletion.

• MOU with small producer with 50+ production wells doing currently 10 bopd with potential of significant increase via water flooding subject to due diligence.

The Company announces that the US focused hydrocarbon production and development company, is pleased to announce an operational update in respect of its Southern Kansas projects including the Walnut and McCune oil leases.

Walnut and McCune are shallow oil prospects currently in excess of 7,500 acres and are the product of several smaller oil production operations, all located on or around the State border of Kansas and Missouri. Walnut and McCune are relatively low cost, high upside development projects. The shallow reservoir depths range from 350 to 800 feet and the Bartlesville and Squirrel are the primary production formations. WHL expects this core project to become a significant contributor in terms of reserves, production and cash flow.

As a result of research of published petrophysical and core analysis, WHL estimates the average oil in place to be 130,000 barrels for each ten acres with individual pay zone intervals ranging from 10 to 50 feet. Continuing reported core analysis indicates excellent porosity and permeability with an API oil gravity ranging from 28 to 33.

There are currently 140 wells available for primary production with current production being 10 bopd. Significant infrastructure is already in place throughout the current development area and is being expanded as the programme continues. It is anticipated that all wells will be recompleted and water flooding will be initiated with simulations indicating that pressure maintenance will increase both productivity and ultimate reserves

The economics of McCune and Walnut are robust. Simulation studies indicated that that oil production rates of 5-20 barrels per day could be expected from each production well following the impact of water flooding. With a low drilling cost to completion of approximately US$30,000 and assuming a US$50 oil

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WHL Energy Ltd C/- Websters Solicitors ABN: 25 113 326 524 Level 11, 37 Bligh Street Sydney NSW 2000 Australia P: +61 2 9233 2688 F: +61 2 9233 3828 www.whlenergy.com

price, a well producing even at the lower end of the expected range would cover the capital cost in approximately seven months.

Primary production of oil before the full impact of water injection is a positive sign for the reservoir potential for producing hydrocarbons. Reservoir studies indicate that typical recovery rates in this type of water flood project would be expected to be in the range of 15-25%, using a straightforward water injection process that has been used for decades on similar oilfields in the US and elsewhere in the world.

About WHL Energy Ltd:

WHL Energy Limited is an energy company engaged in the acquisition and development of properties for production of crude oil and natural gas in the continental USA. The Company focuses on properties that will be able to build value for shareholders and produce solid revenues and profitability. The company has recently focused on Cherokee Basin, Kansas, and Appalachian Basin, Kentucky/Tennessee.

Yours Faithfully,

Ian Mitchell Company Secretary WHL Energy Limited