ZIMI LIMITED — Capital/Financing Update 2012

Sep 11, 2012

==> picture [224 x 86] intentionally omitted <==

WHL Energy Ltd ABN: 25 113 326 524 Level 2, 22 Delhi Street 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 12th September 2012

WHL ENERGY ANNOUNCES ENTITLEMENT OPTION PLAN OFFER FOR SHAREHOLDERS TO RAISE A$3.5M

Highlights:

• WHL Energy to raise ~A$3.5 million via a shareholder option plan

• Funds raised to be used for:

• Early stage expenditure on for La Bella 3D seismic program; and

• General working capital

• Plan comprises 1 option for every 4 shares held at an issue price of A$0.01

WHL Energy Ltd ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) is pleased to announce an agreement to raise approximately A$3,500,000 through an entitlement option plan (“Entitlement Issue”) issued to eligible shareholders.

Use of Proceeds

The proceeds from the Entitlement Issue will be used to fund early stage costs for the La Bella 3D seismic program and general working capital.

Lead Manager

Quattro Capital Group Pty Ltd (“Quattro”) has been appointed Lead Manager to the Company for the Entitlement Issue and has agreed to manage any entitlement shortfall.

Proposed Transaction

The Entitlement Issue offers shareholders 1 option for every 4 shares held at an issue price of A$0.01. The option exercise price has been set at A$0.04, with an expiry date of 30 November 2014. The options will be issued in accordance with the Listing Rules and an application for their quotation on ASX will be made by the Company.

Mr Steve Noske the Company’s Managing Director said “the decision to accelerate the early seismic acquisition at La Bella was part of the farm out process for this acreage. The opportunity to bring the program forward will greatly assist in keeping to the proposed timetable laid out in the recent La Bella update. The Entitlement Issue is an opportunity to recognise the loyalty shown by smaller shareholders.

Further information regarding the Entitlement Issue, including the proposed timetable, will be announced once the prospectus and additional information is completed.

Ends.

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: contact@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 focussed on East Africa and Australia.

The Company’s “flagship” project is its 21,426 km[2] exploration area offshore Seychelles, owned 100% by WHL Energy. A highly material exploration portfolio and new exploration concepts are being matured in the acreage.

WHL Energy holds 100% equity in Exploration Permit VIC/P67 in the offshore Otway Basin, approximately 200 km WSW of Melbourne off the Victorian coastline. VIC/P67 contains the undeveloped La Bella gas field and several nearby exploration prospects, in proximity to existing neighbouring producing gas fields.

The Company also holds 33.33% equity in exploration permit WA-460-P, in the offshore Southern Carnarvon Basin, which contains an extension of the very large Palta Prospect. A Shell led Joint Venture is expected to drill Palta-1 in the adjacent block, during the second half of 2012.