ZIMI LIMITED — Capital/Financing Update 2011

Sep 6, 2011

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WHL Energy Ltd ABN: 25 113 326 524 Level 2, 22 Delhi Street West Perth, Western Australia 6005 P.O. Box 1042, West Perth, Western Australia 6872 T: +61 (0) 8 6500 0271 F: +61 (0) 8 9321 5212 www.whlenergy.com

ASX/MEDIA RELEASE 7 SEPTEMBER 2011

SEYCHELLES OIL AND GAS PROJECT UPDATE

HIGHLIGHTS

• Farm-out process underway with strong interest from international oil and gas majors

• Seismic interpretation ongoing by WHL Energy technical team, with analysis confirming an extensive portfolio of prospects and leads with very large potential

• Volumetric analysis expected later this month

• Previous guidance with respect to total expected unrisked mean prospective resources remains valid, with several multi-hundred million barrel targets mapped across the acreage

• Beau Vallon area has multiple prospects totalling in excess of a billion bbls mean prospective resource

WHL Energy Limited ( “ WHL Energy ” or “ the Company ” ) ( ASX:WHN ) is pleased to provide an update on the progress of its Seychelles Oil and Gas Project:

Farm-out Commenced

WHL Energy is pleased to announce that the formal farm-out process has commenced on its very large Seychelles Oil and Gas Project. So far WHL Energy has been delighted with the significant interest that has been shown for its Seychelles Oil and Gas Project by a number of multinational oil and gas majors. The virtual data room has been established allowing companies to access data covering past exploration and studies by previous operators as well as new WHL Energy studies.

A physical data room with the WHL Energy ongoing interpretation of the preliminary seismic has also been established at WHL Energy’s new West Perth office, and has been visited by a number of major international oil and gas companies. Companies that have executed the confidentiality agreement are now viewing the WHL Energy preliminary interpretation of the new seismic acquired over 2010/11.

Miro Advisors has been engaged to assist with overall coordination of parties as they participate in the farmout process over the coming months. Miro Advisors will also be providing commercial assistance to the Company as the farm-out negotiations proceed.

WHL Energy Interpretation, Prospect and Lead Mapping Expected to be Finalised this Month

Seismic interpretation is ongoing by WHL Energy’s technical team, with analysis confirming high quality seismic data. There are multiple prospects and leads being mapped over WHL Energy’s Seychelles Acreage. This work is nearing completion, with volumetric analysis expected this month. The Company is pleased to advise that previous guidance with respect to expected unrisked mean prospective resources remains valid, with several multi-hundred million barrel targets. As previously noted the Beau Vallon area contains a number of prospects of material volume. These are illustrated in the map of the Beau Vallon area below.

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Top Karroo Depth
Lead N Lead C
Beau Vallon A Lead C
North Lead N Lead L Lead K
Beau Vallon A
Central
Lead L
Lead I
BV A North
Lead K
BV A Central
Lead I
Beau Vallon A
South
BV A East
BV A South BV A East
Lead J Lead J
Lead H
Lead M Lead H
Lead M Lead D Lead D
• Depth Map Top Karoo: Contour Interval 200 metres
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Once final, the WHL Energy volumetric interpretation will be subject of a detailed release towards the end of September 2011.

New Ventures

The Company continues to review new business opportunities in the sub-saharan region and is reviewing Australian gazettal opportunities.

FURTHER INFORMATION Shareholders/Investors: Steve Noske WHL Energy Ltd T: +61 8 6500 0271 E: snoske@whlenergy.com

Media contact: Colin Hay Professional Public Relations T: +61 8 9388 0944 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.