ZIMI LIMITED — Capital/Financing Update 2013

Mar 25, 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 25 March 2013

LETTER OF INTENT EXECUTED FOR FARMIN TO WHL ENERGY’S SEYCHELLES ACREAGE

Highlights:

• Non-binding LOI agreed with potential farminee outlining forward work programme, indicative commercial terms and pathway forward to negotiate a binding Farmin Agreement

• Potential farminee is a top 100 Global Fortune 500 Company, and a leading, internationally recognised, exploration and production operator; consistent with WHL Energy’s previously advised objectives for the Seychelles acreage

Australian energy company WHL Energy Limited ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) is pleased to announce it has today executed a non-binding Letter of Intent (LOI) with a potential farminee which is a top 100 Global Fortune 500 Company with substantial production and technical exploration experience and assets.

The LOI outlines:

• a timetable for discussions with the Government of the Republic of the Seychelles necessary to progress the proposal;

• indicative commercial principles in respect of the potential farmin to assist those discussions;

• principles for a forward work programme for the Seychelles oil and gas assets; and

• the conditions to a process for progressing the negotiation of fully-termed binding agreements (including a Farmin Agreement and Joint Operating Agreement (JOA)).

The LOI is initially non-binding and there is no guarantee that these discussions will result in a legally binding agreement to farmin or that all the conditions precedent to such an agreement will be satisfied.

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Commenting on the LOI, WHL Energy Managing Director, Mr Steve Noske, cautioned “that there were a number of pre-conditions to be met before any legally binding Farmin Agreement is signed but noted that the potential farminees technical capabilities and stature is in line with WHL Energy’s stated aim of partnering with an organisation with the capacity to help take the valuable Seychelles asset forward”.

WHL Energy will keep the market informed of any further material developments in accordance with its disclosure obligations.

Ends

FURTHER INFORMATION Shareholders/Investors: David Rowbottam WHL Energy Ltd T: +61 8 6500 0277 E: contact@whlenergy.com

Media contact: Colin Hay Professional Public Relations T: +61 8 9388 0944 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, which contains an extension of the very large Palta Prospect. A Shell led Joint Venture has commenced drilling the Palta-1 well in the adjacent block, with an expected completion in late 2012.

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

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