ZIMI LIMITED — Capital/Financing Update 2013

Oct 29, 2013

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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 30 October 2013

WHL ENERGY SECURES $5 MILLION CONTROLLED PLACEMENT AGREEMENT WITH ACUITY CAPITAL

Australian energy company WHL Energy Limited ( ASX:WHN ) ( “WHL Energy” or “the Company” ) is pleased to announce that it has entered into a Controlled Placement Agreement (“ CPA” ) with Acuity Capital Pty Ltd (“ Acuity Capital” ).

The CPA provides WHL Energy with up to $5 million of standby equity capital over the coming 12 months. Importantly, WHL Energy retains full control of the placement process, including having sole discretion as to whether or not to utilise the CPA. Further, there are no restrictions or conditions on other capital raising activities the Company may wish to undertake.

The Company has entered into the CPA to complement its funding initiatives and to strengthen its overall capital management program by adding a further capital raising tool. The CPA provides WHL Energy with the flexibility to quickly and efficiently raise capital, including the ability to take advantage of suitably attractive opportunities if they arise.

WHL Energy is under no obligation to raise capital under the CPA. If the Company does decide to utilise the CPA, the Company has control, so WHL Energy determines the frequency, timing, maximum size and minimum issue price of any capital raised under the CPA.

The key features of the CPA are:

1. Standby equity capital of up to $5,000,000 available at the Company’s sole discretion;

2. Available until 29 September 2014;

3. No obligation on the Company to place shares;

4. The CPA provides WHL Energy with full control over the placement process, including the right to determine the following for each new placement:

5. a. Maximum Placement Amount to be issued for any particular Placement Period, minimising dilution of existing shareholders;

6. b. Floor Price, being the minimum issue price for that Placement Period, and

7. c. Placement Period, being the date(s) over which the VWAP and placement price is calculated;

8. Each new placement is issued at a 10% discount to a volume weighted average price ( VWAP ) over the Placement Period, subject to the Floor Price determined by the Company;

9. The actual issue price per share may be higher than the Floor Price set by the Company for a Placement Period. This will occur where the discounted VWAP of WHL Energy shares over the relevant Placement Period is above the Floor Price;

10. WHL Energy has the right to cancel the CPA at any time for a modest fee

11. No restrictions on WHL Energy entering into debt financing arrangements or from undertaking additional private placements, rights issues or shareholder purchase plans;

12. No restrictions on WHL Energy entering into strategic industry partnerships or undertaking acquisitions of assets and shares in the future;

13. Utilisation of the CPA is dependent on WHL Energy’s available placement capacity under the ASX listing rules; and

14. Acuity Capital is not obligated to provide capital, where the requested Floor Price is above the market price or if the full standby equity capital has been utilised.

WHL Managing Director, David Rowbottam commented, “The CPA with Acuity Capital maximises flexibility for WHL Energy in managing its capital requirements. Under the terms of the program if it is decided to utilise the CPA, the Company can specify the period and the minimum price requirements. At all times WHL Energy can control the maximum number of shares that are issued, thereby minimising the cost of capital and dilution for existing shareholders. It allows the Company to quickly and efficiently raise capital, either opportunistically for new acquisitions or to provide additional headroom as existing projects move into the exploration phase. WHL Energy sees the CPA as a prudent capital management tool to take advantage of potential opportunities should they present themselves without holding major cash balances.”

FURTHER INFORMATION Shareholders/Investors: Media contact: David Rowbottam Colin Hay WHL Energy Ltd Professional Public Relations T: +61 8 6500 0277 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.

The Company’s “flagship” project is its 17,345 km2 exploration area offshore Seychelles, owned 100% by WHL Energy. A highly material exploration portfolio and new exploration concepts are being matured in the acreage based on new seismic data and an exploration drilling programme.

In-depth work by WHL Energy has to date identified an initial inventory containing ten, approximately 200 million barrel plus potential targets, which is being expanded to quantify the potential in emerging concept areas.

Further work to develop the leads and targets may include 3D seismic acquisition and geological studies. Most structures identified to date are in < 50 m water with targets at < 2000m, allowing for conventional drilling with a jack up rig.

WHL Energy also 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 in proximity to the Victorian gas market, and several nearby exploration prospects.

The Company in addition holds 33.33% equity in exploration permit WA-460-P, in the offshore Southern Carnarvon Basin.

The Company is also actively investigating growth opportunities in the wider East African region.