Western Plains Petroleum Closes $285,000 Unit Offering

Calgary, Alberta CANADA, Dec 02, 2009 (Filing Services Canada via COMTEX) --
WPP | Quote | Chart | News | PowerRating -- Western Plains Petroleum Ltd.  (WPP - TSX Venture), ("Western Plains" or the "Company") is pleased to announce the closing of the private placement offering of 3,352,940 units ("Units") at a price of $0.085 per Unit for gross proceeds of $285,000 (the "Unit Offering"). Each Unit consists of one (1) common share, issued on a "flow-through" basis under the Income Tax Act (Canada), and one (1) common share purchase warrant ("Warrant"), each Warrant exercisable into one (1) ordinary common share for a period of 12 months from the date of issuance at an exercise price of $0.15 per share. The Company paid a finder's fee of 8.5% ($23,375) on $275,000 of the gross proceeds of the Unit Offering to an arm's length party for services in respect of the Unit Offering.

The Company proposes to use the net proceeds from the Unit Offering for eligible expenditures in connection with well re-activations and drilling operations in the Lloydminster region of Alberta and Saskatchewan.

All securities issued under the Unit Offering are subject to a four month hold period from the date of issuance in accordance with TSX Venture Exchange policies and applicable securities laws. The Unit Offering is subject to final approval of the TSX Venture Exchange.

About Western Plains Petroleum Ltd.

Western Plains is a Lloydminster based junior heavy oil producer with interests located in the Lloydminster area in both Saskatchewan and Alberta. The common shares of the Company trade on the Exchange under the symbol WPP.

For more information, please contact:

David Forrest

President and Chief Executive Officer

Western Plains Petroleum Ltd.

#202, 5004 - 18 Street

Lloydminster, AB  T9V 1V4

Telephone: (780) 205-4468

Fax : (780) 808-8038

E-mail: brahmadf@gmail.com www.westernplainspetroleum.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Reader Advisory

This news release includes management's assessment of future plans and operations, wells to be drilled, timing of drilling of wells, production estimates and planned capital expenditures, which may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas development, production, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, and inability to fund required capital expenditures. Actual future results may differ materially from those assumed or described in such forward-looking statements as a result of the impact of issues, risks and uncertainties whether described herein or not, which Western Plains may not be able to control. The reader is therefore cautioned not to place undue reliance on such forward-looking statements.  The forward-looking statements contained in this news release are made as of the date hereof and Western Plains undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.  The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.

Source: Western Plains Petroleum Ltd. (TSX-V WPP | Quote | Chart | News | PowerRating) www.westernplainspetroleum.com

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