ZIMI LIMITED — Capital/Financing Update 2012

Sep 16, 2012

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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

17 September 2012 17 September 2012 1 Sam Sample 1 Sample Street SAMPLE TOWN WA 6000

Dear Shareholder

WHL Energy Limited - Pro-Rata Non-Renounceable Entitlement Issue

As announced on 12 September 2012 WHL Energy Limited (ACN 113 326 524) ( Company or WHL ) is undertaking a pro rata non-renounceable entitlement issue ( Entitlement Issue or Offer ) on the basis of one (1) option ( Option ) to acquire a fully paid ordinary share ( Share ) for every four (4) Shares held by shareholders registered at 7.00pm AEST on 24 September 2012 ( Record Date ), at an issue price of $0.01 per Option, to raise up to approximately $3,517,596. The Company lodged a prospectus for the Offer ( Prospectus ) with ASIC and ASX on 13 September 2012.

The Options have an exercise price of $0.04 each, with an expiry date of 30 November 2014.

The funds raised from the Offer are intended to be first applied towards costs of the Offer ($115,901) and then used in accordance with the table set out below (applied proportionately across each item):

	Amount ($)	%
Initial Environment Costs	150,000	4.41
Front End Engineering design Costs	250,000	7.35
Initial Seismic Deposit	2,000,000	58.79
Working capital	1,001,695	29.45
Total	3,401,695	100

The above table is a statement of the intentions of the Board as of the date of the Prospectus. As with any budget, intervening events (including exploration success or failure) and new circumstances have the potential to affect the manner in which the funds are ultimately applied. The Board reserves the right to alter the way funds are applied on this basis.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 7.00pm AEST on the Record Date, whose registered address is in Australia, New Zealand, Singapore, Hong Kong, Germany or Brunei.

The Company will apply to ASX for quotation of the Options to be issued pursuant to the Prospectus. If approval is not obtained from ASX before the expiration of 3 months after the date of issue of the Prospectus, (or such period as varied by the ASIC), the Company will not issue any Options and will repay all application monies for the Options within the time prescribed under the Corporations Act, without interest.

Following completion of the Offer, the Company will have issued approximately 351,759,597 Options resulting in total Options on issue of approximately 656,309,597.

Ineligible shareholders

A Shareholder who has a registered address outside Australia, New Zealand, Singapore, Hong Kong, Germany or Brunei ( Ineligible Shareholder ) will not be eligible to participate in the Offer.

You are not eligible to participate in the Offer and you will not be sent a copy of the Prospectus. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia, New Zealand, Singapore, Hong Kong, Germany or Brunei compared with the small number of Ineligible Shareholders and the number and value of Options to which they would otherwise be entitled.

If you have any queries concerning the Entitlement Issue, please contact your financial adviser or Matthew Edmondson, WHL Energy’s Company Secretary, on +618 6500 0271. Yours sincerely

Yours sincerely

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Steve Noske Manager Director WHL ENERGY LIMITED