CYCLIQ GROUP LTD — Capital/Financing Update 2008

Jun 9, 2008

ACN 119 749 647

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10th June 2008

Manager of Company Announcements ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000

Market Update – Manzano Shallow 1 & 2 Flow at combined 2.5 MMCF

The Board is pleased to announce that the Manzano Shallow well (St Tract 911#1) has successfully recommenced production.

The well is presently on production with an initial production rate of 1 million cubic feet per day of gas from two 4 foot intervals perforated in the Marg Frio formation. The Manzano well had originally tested a deeper Marg Tex interval. Further examination of the deeper interval determined that it would not be productive beyond its very short initial production.

The Second Manzano Well (Dunn McCampbell 11A) was spudded on 5 April 2008 (Texas, USA).

The Board is pleased to announce that the Dunn McCampbell well has successfully flowed gas and has been brought into immediate commercial production.

The well has been tied directly into the sales grid and has been producing at a rate of 1.5 million cubic feet per day of gas from a perforated 8 ft interval over an extended production testing period.

Partners in the ST991#1 & Dunn McCampbell 11A wells are:

Modena Resources Limited (ASX: MDA) 15.00% WI Golden Gate Petroleum Ltd (ASX: GGP) 35.00% WI BNP et al 50.00% WI

Yours faithfully

Craig Willis Director Modena Resources Limited

Suite B 150 Hay Street Subiaco Western Australia 6008 Phone 08 9388 8439 Fax 08 9388 8450