ZIMI LIMITED — Capital/Financing Update 2010

Feb 18, 2010

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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 ANNOUNCEMENT

Dated: WHN 19 February 2010

WHL STRENGTHENS & COMPLETES KANSAS OIL RESOURCE BASE

• Successfully completed agreement to acquire Morris lease with production

• Low acquisition cost ($95 K USD) which provides for secure production/ immediate water flood impact

WHL Energy Limited, the US focused hydrocarbon production and development company, is pleased to announce an operational update in respect of its Southern Kansas project.

WHL Energy has announced that its wholly-owned US subsidiary, WHL Energy Midcon LLC, has agreed to acquire the assets of Morris Energy in Crawford County, Kansas, adjacent to the existing shallow (250 feet), low-cost, oil assets acquired in December 2009, in the McCune Oil Field Unit. Presently Morris Energy is producing in excess of 5 bbls of oil/day without additional rework, drilling or stimulation. The package includes 317 acres , 10 production wells, 5 permitted injection wells, and all related equipment including storage tanks, pumps, and lead lines .

Together with the December 2009 acquisition consisting of 520 acres, 28 production wells, 18 permitted injection wells, and related storage and collection equipment, WHL Energy Midcon LLC is anticipating a net oil production rate of 30-35 bbls/day by mid-May 2010 after this new acquisition is completed without new drilling or stimulation – simply upgrading and re-working the existing wells and equipment. The oil is 28-29 API and is marketed to the nearby refinery at Coffeyville at the rate of the spot price for Oklahoma sweet less $5.00/bbl. Net Revenue Interest (“NRI”) in the combined properties is 87.5% with WHL Energy Midcon LLC holding a 100% Working Interest (“WI”).

By consolidating its holdings in the area, which also include new undeveloped leases signed for a total of 1,857 acres, WHL can now maximize its water flooding and stimulation strategy.

To facilitate this endeavour, WHL Energy Midcon LLC has recently engaged the services of Mr. Randy Kissel (Glendon Oilfield Services) to assist in operations via locating new well sites and designing both the workover and water flooding initiatives. Mr. Kissel has in excess of 25 years of operational, hands-on oilfield experience and a successful track record working for companies such as Petro Hunter (Beetaloo Basin, Australia), Cipher Exploration, Piper Energy/USA, Amber Energy, and Amoco.

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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

WHL Chairman Mr. Peter Bartter, currently visiting in Kansas to review operations first-hand, states that “we are extremely pleased by this acquisition as it complements our significant oil reserve base. Moreover, this acquisition has provided the company with the ability to accelerate the water flood pending good weather. McCune continues to provide robust economics and cash flow and with the onset of the water flood, should lead to a significant step change in production and reserves for the company with little additional investment.”

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