CYCLIQ GROUP LTD — Capital/Financing Update 2009

May 31, 2009

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( A B N 3 4 0 9 0 0 7 4 7 8 5 )

Level 21, Allendale Square 77 St Georges Terrace Perth WA 6000 Australia

Telephone: +61 8 9324 1177 Facsimile: +61 8 9324 2171

PO Box Z5184 Perth WA Australia 6831

Email: admin@ggpl.com.au Website: www.ggpl.com.au

1 June 2009

Market Release (via electronic lodgement)

PRODUCTION TESTING UPDATE AT BULLSEYE PROSPECT

Jumonville #2 Bullseye Prospect, Iberville Parish, Louisiana, Operator 33.25% WI

The Company advises that production testing operations at the Jumonville #2 exploration/appraisal well are moving ahead accordingly to plan. Actual perforation of the Cib Haz interval is expected around the middle of the week with initial test results by end of this week.

Partners in the Jumonville #2 well are:

Golden Gate Petroleum Ltd (ASX code: GGP) 33.25% WI Modena Resources Limited (ASX code: MDA) 9.00% WI Quest Petroleum NL (ASX code: QPN) 5.00% WI Pantheon Resources PLC 11.25% WI Eastern Advisors 12.00% WI IB Daiwa Corporation 8.00% WI Other partners 21.50% WI

On behalf of the Board of Directors

For further information contact:

Steve Graves Managing Director Phone +1 805 469 4656

Golden Gate is an independent oil and gas exploration and production company listed on the Australian Stock Exchange. Its focus of operations is onshore Texas and Louisiana Gulf Coast region of the USA.