October 19, 2011
Calgary, Alberta - Western Plains Petroleum Ltd. (TSXV:WPP) (“Western Plains” or the “Company”) is pleased to announce, as an update to its press release of August 29, 2011, that its revolving credit facility with its bank has been renewed, resulting in an increase in the revolving credit limit from $800,000 to $1,000,000, reflecting the Company’s increased heavy oil production and cash flows. Under the renewed credit facility agreement, the Company also has a nonrevolving acquisition/development loan limit of $300,000. In connection with this increase to the Company’s revolving credit facility, the bank waived a breach of the working capital ratio covenant at June 30, 2011, that required the Company maintain an adjusted working capital ratio of at least 1:1.