ZIMI LIMITED — Capital/Financing Update 2013

Sep 17, 2013

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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 18 September 2013

WHL ENERGY FARMS OUT FURTHER LA BELLA INTEREST

• Accomplished partner with proven gas production history joins La Bella JV

• WHL Energy to receive US$2.95 million towards 3D seismic costs

• WHL Energy now covered for cost of upcoming 3D seismic acquisition programme

Australian energy company WHL Energy Limited ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) is pleased to report it has signed an Option Agreement with Tap Oil Limited (ASX: TAP) (TAP Oil). Tap Oil have agreed to pay up to a maximum US$2.95 million for an option to acquire an initial 10% interest in the offshore Otway Basin Vic/P67 permit.

The agreement with Tap Oil follows the 4 September 2013 ASX announcement on a farm-out agreement with AWE Limited (ASX: AWE) under which AWE will pay 75% of the total cost to acquire a state-of-the-art 3D seismic survey over the La Bella field and surrounding exploration targets, capped at US$9.0 million to earn up to a 60% equity in Vic/P67. Any costs that may exceed this cost cap will be borne by AWE and WHL at 60% and 40% respectively, Tap will have no further funding obligation for its seismic option in excess of US$2.95 million.

The transfer of interests to AWE and Tap will be subject to normal regulatory approvals.

Tap Oil’s cash payment is expected to substantially cover the balance of WHL Energy’s financial commitment for the 3D seismic acquisition campaign.

The planned 811 km[2] 3D seismic survey is scheduled to be acquired in Q4 2013. WHL Energy has received full environmental approvals for the survey which will further refine the mapping of the La Bella gas and condensate field and the surrounding prospects, along with developing drilling targets.

WHL Energy Executive Director, David Rowbottam, said the second successful farm-out of an interest in Vic/P67 was an important milestone for WHL Energy and the La Bella project.

“The support we have received from companies of the calibre of AWE and Tap Oil vindicates our decision to bid for the Vic/P67 permit initially and for the tremendous technical work the WHL Energy team has done to understand and promote the geological and commercial upside of La Bella and the surrounding exploration targets.

“We believe the planned 3D seismic programme will provide critical data in further assessing the commercial potential of bringing La Bella’s potentially high-value gas and condensate to the market. For a junior company of WHL Energy’s size, to substantially have the seismic cost covered is a

significant result for shareholders as it removes the requirement for a substantial capital raising, while also bringing on board the experience and support of two highly credentialed partners.”

“We expect to be able to announce and award the contract for the 3D seismic acquisition programme very shortly and look forward to working with AWE and Tap Oil to successfully undertake this important project,” said Mr Rowbottam.

About La Bella

The La Bella gas/condensate field was discovered in 1993 by BHP Petroleum when La Bella-1 intersected hydrocarbons in the Flaxman (15m gross column) and Waare (65m gross column) formations.

The field is estimated to contain a 2C Contingent Resource of 114 petajoules (PJ) of gas and 1.4 million barrels of condensate, while the adjacent leads have been assessed to have the potential contain an additional 500 PJ or more of recoverable gas.

Located 200 km WSW of Melbourne, the potential commercialisation of La Bella benefits significantly from the field’s proximity to gas pipeline and processing infrastructure and to a rapidly growing Eastern States gas market.

Ends

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 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 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.