ZIMI LIMITED — Capital/Financing Update 2014

Jun 23, 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 24 June 2014

Seychelles 3D Seismic Survey Contract Awarded Junon 3D Marine Seismic Survey scheduled to commence by end of June

Highlights:

• Dolphin Geophysical contracted to acquire 1500 km[2] Junon 3D seismic survey

• Seismic vessel M/V Polar Duchess mobilised to Seychelles

• Survey commencement expected around 28 June 2014

Australian energy company WHL Energy Limited ( ASX: WHN ) (“ WHL Energy ” or “ the Company ”) is pleased to announce that Ophir Energy plc (“ Ophir Energy ”), operator of the jointly held Seychelles exploration blocks, has contracted Dolphin Geophysical to undertake the 1500 km[2] Junon 3D seismic survey over the Junon trend. Ophir Energy, as operator holds 75% equity in the Seychelles blocks and WHL Energy the remaining 25%.

The survey will be undertaken by the M/V Polar Duchess and is targeted to commence on 28 June. The survey will take 30 – 40 days to complete. An initial fast track processed data set is expected to be delivered in September and a PreSTM processed volume in December.

The Junon 3D seismic survey is designed to mature a number of prospects for drilling on the Junon trend in the east of the Ophir Energy/ WHL Energy Seychelles acreage (Junon South, Junon East and Junon Central), an area high graded by WHL Energy’s geological studies.

Mr David Rowbottam, WHL Energy’s Managing Director, commented: “It is very pleasing to see the Seychelles project reach an important milestone with the acquisition of the first 3D dataset in the acreage. Because of the geological nature of the Seychelles region, it is believed that 3D seismic data will provide a significant upgrade to the understanding of our large exploration area. The Junon 3D dataset for example is expected to provide a high definition image of the Junon structures and provide a number of prospects for targeted drill site selection.”

“The Junon 3D seismic survey fulfils the 3D seismic obligation under Ophir’s farm-in agreement with WHL Energy and the company looks forward to the results of the survey. The company anticipates that an exciting exploration drilling opportunity will mature from this data.”

During April 2014 the Republic of the Seychelles signed formal documentation approving Ophir Energy’s farm-in for a 75% interest in WHL Energy’s offshore Seychelles petroleum exploration project area.

As part of the farm-in agreement Ophir Energy will fully fund the initial 1,500 km[2] 3D seismic acquisition programme up to a total amount of US$17 million.

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Junon Junon
Beau South Central
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seismic survey
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Dolphin Geophysical AS is a global full-range, asset light supplier of marine geophysical services. It operates a fleet of new generation, high capacity seismic vessels and offers contract seismic surveys, Multi-Client projects and processing services on a worldwide basis.

The M/V Polar Duchess is a modern, state-of-the-art 3D seismic acquisition vessel designed for high capacity (12 streamers) marine seismic operations with a strong focus on safety and environmental performance, optimised towing and a high transit speed of 18 knots.

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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

All Petroleum Reserves, Contingent Resources and Prospective Resources information relating to the oil and gas projects in this report are based on, and fairly represent, information and supporting documents prepared by, or under the supervision of, WHL Energy’s Limited full time Exploration Manager Mr Matt Fittall. He is a Geologist [BSc(hons)Geology] with more than 30 years’ experience, practicing in Petroleum Geology. Mr Fittall is a member of the Petroleum Exploration Society of Australia (PESA). Mr Fittall has consented in writing to the inclusion of the information in the form and context in which it appears.

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 leads inventory containing at least 18 high potential features. The company farmed in proven East Africa explorer, Ophir Energy plc as operator.

The high graded Junon leads will matured for drilling with a 1500 km[2 ] 3D seismic survey in 2014. Additional new play concepts are being developed with further studies. 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 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 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.