ZIMI LIMITED — Capital/Financing Update 2009

Jul 30, 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

NEWS RELEASE – Friday, 31 July, 2009

WHL Energy Ltd. Update – WHL Continues to Focus on Increasing Production

The Directors of WHL Energy Ltd. are pleased to provide an update regarding its joint venture in Kentucky with KOS Energy (Kentucky) LLC (KOS) and Deniz Energy LLC where each party holds an equal 33.3% working interest in the venture.

Work continues to progress in Wayne County, located in south central Kentucky, where KOS continues rework over wells via its proprietary Short Radius Stimulation (SRS) hydra-jet drilling technology. These joint venture lands currently comprise of 7,500 acres, with in excess of 40 previously producing oil wells located on the lands. KOS is the operator and has re-entered a total of 5 wells which are now on pump with restored production.

As the results continue to positive, the JV has decided to both expand its land position in the area and to drill higher impact wells. The JV is completing both due diligence and negotiations on various prospective adjoining oil producing properties, where there are numerous non-producing oil wells and where SRS can be performed. The properties are expected to exceed 30 k acres of land and 275 wells currently with production.

Moreover, these additional opportunities are expected to be higher impact wells that may yield higher rates.

Managing Director, David S. Kahn, states that, “this is a positive step towards the companies goal of achieving short term production of 100 bopd in the region which will provide the company with sustainable cash flow. WHL will continue to focus on low risk, distressed assets in this environment and believes that Southern Kentucky possesses the necessary characteristics to bring the WHL balance sheet in to a positive position in the short term. These characteristics include mature basin with good reservoir understanding, low cost of land acquisition and operations. Albeit commodity prices are low, this has provided the catalyst for WHL and its shareholders to make some great deals while streamlining operations.”

This strategy is aligned with our early goal of continuing to accumulate significant shale gas in the region as many of above lands do possess significant Devonian shale gas reserves which will further add to WHL’s current inventory of gas in KY. WHL expects to actively drill and complete wells in the shale gas as there is a further support in the gas prices in the winter.

The ASX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

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For further information or questions regarding this report, please contact Mr Peter Bartter, Executive Director on +61 2 9238 6340

Peter Bartter Chairman