ZIMI LIMITED — Capital/Financing Update 2011

Apr 7, 2011

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WHL Energy Ltd ABN: 25 113 326 524 2 Leura Street, Nedlands Western Australia P.O. Box 3445, Broadway Nedlands Western Australia 6009

T: +61 8 6500 0271 F: +61 8 6389 1151 www.whlenergy.com

ASX/MEDIA RELEASE 8 APRIL 2011

WHL ENERGY RAISES $10M TO FUND SEYCHELLES SEISMIC ACQUISITION AND INTERPRETATION

Highlights:

• $10 million capital raising receives strong support from domestic and international institutional and high net worth investors

• Funds raised will progress WHL Energy’s highly prospective offshore Seychelles oil and gas project towards farm-out and drilling, including finalisation and interpretation of the current 2D seismic programme

Australian energy company WHL Energy Limited ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) is pleased to announce it has resolved to raise up to $10 million through the placement of up to 312.5 million shares at 3.2 cents per share.

The funds raised pursuant to the placement will fund the completion of the Seychelles seismic acquisition program including the regional geological synthesis and the in-depth interpretation of this 2D seismic data. Delivery of the processed seismic and interpretation of the new data will commence in April.

The interpreted data from that 2D seismic acquisition will provide crucial additional information as the Company aims to further delineate the previously identified and new leads. The funds will allow the Company to mature the leads as it proceeds to identify prospects suitable for drilling.

WHL Energy’s Chief Executive Officer, Mr David Rowbottam said:

• “The interpretation of the new seismic data will also be an important element in securing potential farm-in partner(s).

• The strong take-up of this share placement, which was very heavily overbid, is further good news for WHL Energy and its shareholders and demonstrates the significant investor and industry interest being received by WHL Energy for its highly prospective Seychelles oil and gas portfolio.

• The placement follows close-on-the-heels of Monday’s announcement that an independent report has confirmed the potential of 12 leads across 4 different plays in our highly prospective Seychelles exploration holdings.”

That Independent Expert Report, provided by leading international firm Isis Petroleum Consultants Pty Ltd, estimated that leads previously identified in WHL Energy’s Seychelles Blocks have the potential to contain unrisked mean oil in place of between 166 million barrels and 5.44 billion barrels per lead.

The placement is being completed in two tranches with up to 127 million shares being issued in tranche one pursuant to the Company’s 15% capacity under ASX Listing Rule 7.1 and the balance of up to 185.5 million shares being issued in tranche two, subject to shareholder approval at a General Meeting proposed to be held in May 2011. A Notice of Meeting will be sent to all shareholders in due course.

Leading Australian financial services firm Hartleys Limited was Broker to the Offer.

End.

FURTHER INFORMATION Shareholders/Investors: Media contact: David Rowbottam Colin Hay WHL Energy Ltd Professional Public Relations T: +61 8 6500 0271 T: +61 8 9388 0944 E: drowbottam@whlenergy.com E: colin.hay@ppr.com.au

About WHL Energy Limited

ASX-listed WHL Energy Ltd (ASX: WHN ) is a diversified energy company with interests in a large petroleum exploration asset off the coast of the Republic of the Seychelles, a suite of Renewable Energy Projects and Prospects in Europe and onshore oil and gas producing and exploration holdings in the United States of America.

The Company’s “flagship” project is its very large offshore Seychelles oil and gas interests. This 20,700km[2 ] exploration holding is considered highly 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.