CYCLIQ GROUP LTD — Board/Management Information 2011

Oct 23, 2011

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24 October 2011

Companies Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

Modena Resources Strengthens Board with Technical Appointments

Modena Resources Limited (“Modena”) (ASX Code: MDA) is pleased to announce the appointments of Mr. Andrew Mattin as an Executive Director and Mr. Craig Martin as a Non-Executive Director to the Board of Directors. These appointments will take immediate effect as at 24 October 2011.

Andrew Mattin - Executive Director

Andrew Mattin has over 21 years experience in the exploration, development and production of oil and gas in Australia, New Zealand, South-East Asia, Europe, North Africa, and the USA with a range of companies, including Woodside Energy, Tap Oil and Nido Petroleum. During his career he has held technical and executive positions, including Vice President for Production whilst at Nido. Andrew has been responsible for a number of onshore and offshore exploration, development and production assets; government and joint venture relations; health, safety, security and environmental management, and new ventures and acquisitions. Most recently he has been working as an independent consultant to a number of ASX listed oil and gas companies. Andrew is a member of the Australian Institute of Company Directors (AICD), the Society of Petroleum Engineers (SPE), and South East Asian Petroleum Exploration Society (SEAPEX).

Craig Martin - Non-Executive Director

Craig Martin is a senior executive oil and gas professional with extensive experience in oil and gas, offshore and onshore operations. Craig has worked for Australian and international upstream operators for more than 26 years in oil and gas production operations, field development, exploration, drilling and crude oil and gas marketing. He has worked for operating companies including Santos, Cultus Petroleum, Gulf Australia, Newfield Exploration, OMV, Coogee Resources Otto Energy and Nido Petroleum. Craig holds a Bachelor of Science Degree (Geology), a Master of Business Administration and Graduate Diploma in Oil and Gas Engineering. He is a member of the Society of Petroleum Engineers (SPE), the American Association of Petroleum Geologists (AAPG), the Petroleum Exploration Society of Australia (PESA), the Australian Mining and Petroleum Law Association (AMPLA) and is also a member of the Australian Institute of Company Directors (AICD).

Commenting on these appointments, Mr. Cosimo Damiano, Modena’s Chairman said, "I am extremely pleased to be able to welcome Andrew Mattin and Craig Martin to our Board. Their appointments bring a wealth of knowledge and experience to Modena with direct oil and gas exploration, production and development experience. Their expertise is complementary to that of Modena’s other Directors and will

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ASX Announcement Board Appointments

Modena Resources Limited 24 October 2011

help to create further growth opportunities for the Company. We look forward to working with Andrew and Craig as the Company embarks on a detailed review of its assets and prepares a strategic plan for its future.”

The Company also advises the resignation of Mr. Craig Willis and thanks him for his contribution.

For further information contact

Cosimo Damiano

Non-Executive Chairman Phone: +61 3 9692 7222 Email: Cosimo@modenaresources.com.au

About Modena Resources: Modena Resources is an independent oil and gas production and exploration company, listed on the Australian Stock Exchange (Code – MDA). Its primary of interest of operations is Padre Island region of Texas, USA.

www.modenaresources.com

Suite 304, 22 St Kilda Road • St Kilda • Victoria • 3182

T: +61 3 9692 7222 F: +61 3 9529 8057