2012-10-04 19:52:24 -

October 4, 2012 - Calgary, Alberta - Western Plains Petroleum Ltd. (TSXV:WPP) ("Western Plains" or the "Company") is pleased to confirm receipt of final approval from the TSX Venture Exchange in respect of the shares for debt transactions with certain management and oil field service providers, as previously announced in the Company's press release of September 27, 2012. The Company closed these transactions and settled aggregate payables in the amount of $188,377.90 through the issuance of 3,767,558 common shares in the capital of the Company ("Common Shares") at a price of $0.05 per share. All Common Shares issued under these transactions are subject to a 4 month hold period expiring on February 4, 2013, in accordance with applicable securities law.

About

Western Plains Petroleum Ltd.

Western Plains is a Lloydminster, Alberta, based junior heavy oil producer with interests located in the Lloydminster area in both Saskatchewan and Alberta. The Common Shares of Western Plains trade on the TSX Venture Exchange under the symbol WPP.

For more information, please contact:

David Forrest
President and Chief Executive Officer
Telephone: (780) 205- 4468
E-mail: dforrest@westpp.ca

Steven Glover
VP Finance and Chief Financial Officer
Telephone: (403) 990 - 3876
E-mail: sglover@shaw.ca

Western Plains Petroleum Ltd.
#202, 5004 - 18 Street
Lloydminster, AB T9V 1V4
www.westernplainspetroleum.com.
Telephone: (780) 871-0725
Fax :(780) 808 - 8038

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.

To view this press release as a webpage, please click on the following link:
www.fscwire.com/pr/westernplainsoct042012.htm