CYCLIQ GROUP LTD — Board/Management Information 2012

Oct 8, 2012

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9 October 2012

Australian Securities Exchange Limited 2 The Esplanade PERTH WA 6000

APPOINTMENT OF SENIOR MANAGEMENT AND NON EXECUTIVE DIRECTOR

Board and Management Changes/Appointments

Sprint Energy Ltd (“Sprint”) (ASX Code: SPS) is pleased to advise the following changes to the board and appointment of Senior Management within the company effective immediately.

Sprint is very pleased to announce the appointment of Mr Torbjorn Ranta to the position of Chief Operating Officer, Russian Federation. Mr Ranta is 50 years of age and is a fluent Russian speaker with considerable in-country experience where he has been involved in projects since 1995. Mr Ranta holds a degree in Business Administration from the Stockholm School of Economics and worked for 6 years in Stockholm investment banking sector before he joined Vostok Nafta in 1996.

In 2001, Mr Ranta became the Managing Director of junior oil producer Vostok Oil Ltd. Over a twenty four (24) month period, Vostok Oil went from green field stage to producing 3,000 BOE per day via a 120 km pipeline constructed during one season (horizontal wells, first in Tomsk).

Subsequently, in 2003, Mr Ranta left Vostok Oil Ltd when the control of the company was taken over by Russian Alltech group, which later merged Vostok Oil with Russian refining company Alliance Oil forming an independent integrated oil company today still listed in Stockholm with a market capitalisation of some USD $1.5 Billion.

Mr Ranta has also served as Board Director on a number of joint-stock companies, among others Malka Oil (publicly listed), Tomsk Refining AB (non-listed), Alpcot Agro AB (publicly listed), Karelia Timber AB (non-listed).

Mr Ranta recently travelled to Australia where he met with new and existing institutional and private shareholders to introduce the Tomsk Oil & Gas opportunity. Torbjorn has extensive experience in Investment Banking, Capital Markets and Russian Oil and Gas field development.

In addition to this, Andrew Chapman has been formally appointed as a Non-Executive Director of the Company, effective immediately.

Andrew holds a Bachelor of Business & Economics with Graduate Diploma of Applied Finance & Investment. Andrew is currently the Managing Director of Merchant Funds Management Pty Ltd and the Portfolio Manager of the Merchant Opportunities Fund which holds a relevant interest of c. 7.5% (49,225,624) in Sprint Energy Ltd.

Sprint Energy Ltd 1186 Hay Street West Perth WA 6005

+61 8 9215 4200 +61 8 9215 4299 www.sprintenergy.com.au

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Prior to this role, Andrew has been involved in the Stockbroking and Funds Management for the past 12 years.

Finally, Sprint advises Mr Brad Boyle has formally tendered his resignation as a Director of the Company due to his other on-going company and personal commitments. Mr Boyle joined the company at a difficult time and has been instrumental in the successful turnaround and administration of many outstanding issues present over that period. Mr Boyle will remain with the Company as Managing Director until a suitable candidate is appointed at a future point in time in line with the company’s requirements.

On behalf of the Board I would like to thank Mr Boyle for his contribution and involvement in rebuilding the Company to its current status. The Board, Company and shareholders wish him all the best with his future endeavours.

Appointment of Electrosecur and securing of options on Tomsk Blocks 71-1, 95-1 and 95-3

The Company also wishes to advise a new Term Sheet has been executed with Electrosecur Limited, where Electrosecur Limited will now assist the Company and provide on-going support with the integration and operations in Russia for Block 71-1, and now also to include Block 95-1 and Block 95-3. The consideration for the introduction and on-going support for all projects will remain the same as previously announced to the market on 8 August 2012.

Russia Site Trip and Due Diligence

In support of the on-going technical and legal due diligence process, Mr Brad Boyle and Mr Jon Roestenburg will be travelling to both the Penza and Tomsk regions to complete site visits and meet with the project vendors and other key personnel associated with the three projects.

Yours sincerely Sprint Energy Ltd

Jaap Poll Chairman

Phone: +61 8 9215 4200 Email: jaap.poll@sprintenergy.com.au

About Sprint Energy Ltd: Sprint Energy Ltd is an independent oil and gas exploration and production Company, listed on the Australian Stock Exchange (ASX Code: SPS). Its primary focus of operations is Gulf Coast, USA and Russia.

www.sprintenergy.com.au

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