whl energy to focus on oil and gas assets

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 RELEASE 18 JANUARY 2012
WHL ENERGY TO FOCUS ON OIL & GAS ASSETS
WHL Energy Limited (ASX: WHN) (“WHL Energy” or “the Company”) today announced that it has elected not to pursue its UK Renewable Energy project, allowing the Company to fully focus on its growing international oil and gas interests.
The decision to relinquish the Company’s UK-based Wind Farm assets follows a lengthy investigation and independent technical review. The review concluded that the length of time and cost required to resolve issues related to domestic radar mitigation and obtaining planning consent for its proposed Wings Law Wind Farm would not provide sufficient value to WHL Energy and its shareholders.
The Company has informed local land owners of its decision and it is now free to relinquish its obligations.
WHL Energy’s Managing Director, Steve Noske, said that while it was disappointing to have to forego the UK Wind Farm projects, it will allow the Company to fully focus its attention and funds onto the Company’s “flagship” Seychelles oil and gas project and the recently awarded offshore Western Australian petroleum exploration permit.
“Since acquiring the Seychelles asset last year, WHL Energy has rapidly transformed into an up-and-coming oil and gas company with quality international assets. We are at a key stage in moving our large offshore Seychelles oil and gas project forward, with discussions continuing with a number of potential farm-in partners and we look forward to reporting more exciting developments for the Company during 2012,” Mr Noske said.