ZIMI LIMITED — Capital/Financing Update 2014

Oct 15, 2014

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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 16 OCTOBER 2014

EXTENSION TO NON-RENOUNCEABLE ENTITLEMENT OFFER CLOSING DATE

Australian energy company WHL Energy Limited ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) has today advised that the closing date for applications to participate in the Company’s approximately $4.87 million (before costs) Non-Renounceable Entitlement Offer (“ Entitlement Offer ”) as announced on 22 September 2014, has been extended to 5pm (WST) on 31 October 2014.

The Offer period has been extended by two weeks to allow Eligible Shareholders additional time to take advantage of the offer. Shareholders will be kept informed of Company developments during the extended period.

Eligible Shareholders have been offered the opportunity to acquire three new fully paid ordinary shares in the Company ( New Shares ) for every ten fully paid ordinary shares held at the Record Date at an issue price of $0.01 per New Share ( Offer ).

Eligible Shareholders who participate in the Offer will also receive two free attaching options for every three New Shares issued to them ( Attaching Options ). Each Attaching Option will have an exercise price of $0.018 and will be exercisable at any time prior to 5.00pm WST on 30 November 2016. The Company will apply to the ASX for quotation of the Attaching Options. A copy of the Prospectus is available for review on the ASX’s website www.asx.com.au and on WHL Energy’s website www.whlenergy.com.

The issue price for the New Shares, being $0.010 per New Share, represents a 22.2% discount to the 20 day volume weighted average price ( VWAP ) of the Company's shares of $0.0129 and a 16.67% discount to the closing price of $0.011, for the Company's shares on 19 September 2014, being the last trading day prior to the date the offer was announced.

Shareholders are also entitled to apply for additional New Shares in excess of their entitlement that are not taken up by other Eligible Shareholders in accordance with the Offer ( Shortfall Offer ).

Should you have any queries in relation to the Entitlement Offer, please do not hesitate to contact Link Market Services on 1800 250 297 or (02) 8767 1309.

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 and Australia.

WHL Energy holds a 12,856 km[2] exploration area offshore Seychelles, at 25% equity. A world class exploration portfolio and new exploration concepts are being matured in the acreage. WHL Energy has mapped a prospect and lead inventory containing at least 18 features. The company farmed in proven East Africa explorer, Ophir Energy plc as operator.

The high graded Junon leads will be matured for drilling with a 1500 km[2 ] 3D seismic survey completed in July 2014. Additional new play concepts are being developed. Most structures identified to date are in < 50 m water with drilling targets at < 2000m depth, allowing for low cost drilling with a jack up rig.

WHL Energy also holds 40% 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 La Bella 3D seismic survey was acquired in late 2013 to appraise the La Bella field and also firm up the exploration prospects. Initial results of the 3D seismic survey are encouraging and have identified structurally conformable amplitude anomalies associated with several of the key prospects.

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 has recently drilled the Palta-1 well in the adjacent block which was subsequently relinquished in February 2014. WHL will review the Palta-1 well data and the forward strategy for WA-460-P.

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