ZIMI LIMITED — Capital/Financing Update 2011

Oct 19, 2011

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WHL Energy Ltd ABN: 25 113 326 524 Level 2, 22 Delhi St, 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 20 OCTOBER 2011

WHL Energy offered 2010 Gazettal Round Acreage W10-25

Highlights:

• WHL Energy positioned to expand its portfolio following offer of gazettal round acreage W10-25

• Acreage area interpreted to encompass 20% of the 13.3tcf Palta prospect in neighbouring WA-384-P acreage operated by Shell

• Shell expected to drill the Palta-1 well in late 2011 / early 2012

Australian energy company WHL Energy Limited ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) is pleased to advise that the Company, as part of a consortium in which it holds a 33.33% interest, has been offered by the Commonwealth-Western Australian Joint Authority, block W10-25 (“W10-25”), from the 2010 Australia Offshore Petroleum Exploration Acreage Release.

The offer for the gazettal round acreage W10-25 was secured on the basis of a relatively low cost seismic bid. Release area W10-25 is located 70 km west of Cape Range and lies adjacent to the Shell exploration permit WA-384-P in which the Palta-1 well is planned to be drilled.

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Figure 1: Location of 2010 Gazettal round acreage in the Carnarvon Basin WA

W10-25 is interpreted to cover in the order of 20% (2.5 tcf) of the 13.3 tcf Palta prospect that straddles exploration license WA-384-P in which Shell holds a 100% interest. Shell has recently

received approval to drill the Palta-1 exploration well in WA-384-P with drilling expected to commence in late 2011 / early 2012. If the offer is accepted, this will provide WHL Energy shareholders with exposure to a high impact near term exploration well.

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W10-25
Palta
Structure
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Figure 2 : Interpretation of the Palta structure highlighting the location of W10-25

Commenting on the Company’s success in securing W10-25, WHL Energy’s Managing Director, Mr Steve Noske stated, “It’s particularly pleasing to be offered acreage in the Australian government gazettal round as it verifies the Company’s bone fides for opportunities through future gazettal rounds. WHL Energy intends to maintain a watch for opportunities that gives the Company exposure to drilling or provide a line of sight path to production.”

WHL Energy’s long term growth strategy includes diversifying the historical assets of the Company and leveraging off the Company’s deep knowledge of the global oil and gas industry. The offer of this exploration license, which was applied for in May 2011, highlights the ability of WHL Energy’s management and technical team to achieve this goal.

FURTHER INFORMATION Shareholders/Investors: Media contact: Steve Noske Colin Hay WHL Energy Ltd Professional Public Relations T: +61 8 6500 0271 T: +61 8 9388 0944 E: snoske@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.

The Company’s “flagship” project is its very large offshore Seychelles oil and gas exploration interests. This 21,426km[2] exploration holding is considered prospective for potentially very large hydrocarbon targets, and WHL Energy is currently undertaking further work to gain a higher understanding of that potential as it progresses the Seychelles oil and gas assets towards farm-out and drilling.

Independent studies have confirmed the potential of 15 leads across 4 different plays in WHL Energy’s Seychelles exploration holdings and estimated that these leads typically have the potential to contain mean Prospective Resources of several hundred of million barrels.