CYCLIQ GROUP LTD — Capital/Financing Update 2012

Sep 5, 2012

==> picture [146 x 42] intentionally omitted <==

6 September 2012

Australian Securities Exchange Limited 2 The Esplanade PERTH WA 6000

SUCCESSFUL RENEGOTIATION OF TOMSK ACQUISITION TERMS

Sprint Energy Limited (ASX: SPS, “Sprint”, “Company”), is pleased to announce further to the Company’s request for an extended suspension of trading, the Company has successfully re-negotiated the terms of the consideration with Electrosecur Limited (“Vendor”) in relation to the acquisition of a 74% interest in OOO Bakcharneftegaz (“BNG”) and Block 71-1, located in the Tomsk region of the Western Siberia.

The original terms of acquisition with the Vendor were a nineteen (19)% equitable interest in the Company (post the raising) and a cash payment of USD$800,000. (Refer the Company’s ASX announcement of 8 August 2012). Following recent discussions, the Vendor has continued to re-affirm their belief in the project by reducing the cash payment to USD$200,000.

In addition to the above, the Vendor will receive further consideration in the form of shares should the Tomsk project achieve the outcome of 50,000,000 BOE P2 reserves (Barrels of Oil Equivalent, Proven and Probable reserves). Upon verification by an independent third party, the Vendor or his nominee shall be issued an additional 50,000,000 ordinary shares in the Company. Further, should the project define an additional minimum volume of 25,000,000BOE (for a total of 75,000,000BOE) P2 reserves, the Vendor or nominee shall be issued an additional 50,000,000 ordinary shares in the Company.

Sprint Energy Ltd 1186 Hay Street West Perth WA 6005 P +61 8 9215 4200 F +61 8 9215 4299 www.sprintenergy.com.au

==> picture [145 x 43] intentionally omitted <==

The Company’s Managing Director, Mr Brad Boyle said, “We are very pleased that the Vendor has agreed to the revised consideration. The Vendor has done so as an expression of mutual benefit and reflection of their belief in achieving the large milestones. This action helps to align the Vendor’s interests with the shareholders of the Company and further demonstrates their long term commitment and belief in the commerciality and success of the BNG Asset acquisition”.

PLEASE NOTE THIS ANNOUNCEMENT DOES NOT SERVE TO LIFT THE TRADING HALT IN THE COMPANY’S SECURITIES, WHICH WILL REMAIN IN PLACE PENDING AN ANNOUNCEMENT REGARDING A CAPITAL RAISING.

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 focus of operations is the 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

Page 2 of 2