CYCLIQ GROUP LTD — Capital/Financing Update 2012

Jun 13, 2012

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14 June 2012

ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000

INTRODUCTION OF NEW STRATEGIC INVESTOR AND COMPLETION OF DEBT CONVERSION

Sprint Energy Ltd (“SPRINT”) (ASX Code: SPS) is please to confirm that it has executed a strategic agreement between AM Securities Pty Ltd (“AM SECURITIES”) and Provencal Holdings (WA) Pty Ltd (“PROVENCAL”) for the acquisition and assignment of the only outstanding convertible note debt held within the company.

Provencal has executed documents to acquire the $2.5M convertible loan from AM Securities. On assignment, Provencal will convert this loan immediately to fully paid ordinary shares. The terms of this conversation are as follows:

Subject to shareholder approval at an upcoming general meeting of shareholders to be held on 29 June 2012, Provencal Holdings (WA) Pty Ltd will acquire 100M shares at an issued cost price of $0.025 (2.5c per share). This price represents a material premium of approximately 39% to the 30 day VWAP closing price of about $0.018 (1.8c per share). These shares will rank equally with all outstanding shares on issue with a 12 month voluntary escrow for the period applicable from time of issuing.

In the event that the issue of shares detailed above is not approved by shareholders at an upcoming general meeting of shareholders, the loan remains payable in cash by 31 December 2012.

Managing Director Brad Boyle stated: “Sprint Energy is very excited and pleased to welcome Provencal as a strategic substantial shareholder to the register. This contribution of capital from Provencal during this period of rebuilding and growth is a great show of support to direction and vision of the company. This also concludes the major capital restructuring and debt elimination program Sprint undertook at the time of my appointment”.

Yours sincerely Sprint Energy Ltd

Brad Boyle Managing Director

Phone: +61 3 9692 7222 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.

+61 3 9529 8057 www.sprintenergy.com.au

Sprint Energy Ltd St Kilda Victoria 3182

+61 3 9692 7222