CYCLIQ GROUP LTD — Capital/Financing Update 2012

Sep 5, 2012

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6 September 2012

Australian Securities Exchange Limited 2 The Esplanade PERTH WA 6000

SPRINT ENERGY LTD– RAISES $3 MILLION TO DEVELOP TOMSK ASSEST

Sprint Energy Limited (ASX: SPS, “Sprint”, “Company”) is pleased to announce the Company has received commitments to raise a gross AUD$3.0 million.

This raising has been achieved through the placement of 100 million shares at 2 cents per share for $2M to sophisticated and professional investors in Australia and internationally. A further $1M has been raised through an unsecured convertible debt instrument. The debt is convertible at a twenty five (25)% premium to the raising price, with an interest rate of eight (8)% per annum and is over a two (2) year term.

The Company confirms approximately $1.765M of the raising will be issued pursuant to the Company’s fifteen (15)% percent capacity under ASX Listing Rule 7.1 and the remaining amount of approximately $0.235M of the raising will be subject to shareholder approval which will be sought at a general meeting of shareholders. At the same time shareholder approval of the conversion terms of the convertible debt instrument will be sought.

A formal Notice of Meeting outlining the time and date for the resolutions to obtain such approval will be provided to shareholders soon.

Funds raised by the Placement will enable the Company to :

• Subject to the successful completion of the final stages of the technical and legal due diligence on OOO Bakcharneftegaz (“BNG”) and Block 71-1 the Company will:

• Execute acquisition agreements with OOO Bakcharneftegaz (“BNG”)

• Finalise the work program for the re-entry and development of Well No: 4

• Complete re-interpretation of the seismic data for Well No: 4

• Obtain government approval for the re-entry program for Well No: 4

• Commence re-entry of Well No: 4 as soon as practical

• Continue current work program on Padre Island and other Gulf Oil and Gas assets in the USA

Sprint Energy Ltd

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

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• Consider and review other project acquisition opportunities in USA and elsewhere

Commenting on the Placement, the Company’s Managing Director, Mr Brad Boyle said, “We are very pleased with the outcome of this capital raising and the continued support and enthusiasm shown by existing and new shareholders for the acquisition of the Tomsk project. The proceeds received will ensure that Sprint is funded for aggressive work programs in Tomsk at Block 71-1 and our Texas Gulf (Padre Island) projects”.

THIS ANNOUNCEMENT EFFECTIVELY CEASES THE TRADING HALT REQUESTED BY THE COMPANY ON 29 AUGUST 2012. THE COMPANY IS NOT AWARE OF ANY REASON WHY THE ASX WOULD NOT ALLOW TRADING TO RECOMMENCE IMMEDIATELY.

Yours sincerely Sprint Energy Ltd

Brad Boyle Managing Director Phone: +61 8 9215 4200 Mobile: +61 417 175 852 Email: brad.boyle@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 Eastern Europe.

Forward-Looking Statements: This document may include forward-looking statements. Forward-looking statements include, but are not necessarily limited to, statements concerning Sprint Energy Limited’s planned exploration program and other statements that are not historic facts. When used in this document, the words such as “could”, “plan”, “estimate” “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward-looking statements. Although Sprint Energy Limited believes that its expectations reflected in these are reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements.

www.sprintenergy.com.au

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