CYCLIQ GROUP LTD — Capital/Financing Update 2012

Apr 29, 2012

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30 April 2012

ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000

FUNDS RAISED THROUGH CONVERTIBLE LOANS

Sprint Energy Ltd (“Sprint”) (ASX Code: SPS) wishes to provide further details on the convertible loans entered into in the last quarter for the raising of $250,000 in February 2012 and $500,000 in April 2012 as detailed in the Company’s March 2012 quarterly activities statement lodged with the ASX on 27 April 2012.

The terms of the convertible loans are as follows:

Convertible loan for $250,000

1. The issue of the shares in satisfaction of loans are subject to shareholder approval

2. Interest in calculated daily at a rate of 12% and payable at 6 months intervals

3. Termination date is 31 December 2012

4. The issue price of the shares will be the lower of $0.02 or 80% of the 5 day VWAP preceding the shareholders meeting.

Convertible loan for $500,000

1. The issue of the shares in satisfaction of loans are subject to shareholder approval 2. Interest in calculated daily at a rate of 6% and payable at 6 months intervals

2. Termination date is 11 April 2013

3. The issue price of the shares will be the lower of $0.02 or 80% of the 5 day VWAP preceding the shareholders meeting.

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

Sprint Energy Ltd St Kilda Victoria 3182

+61 3 9692 7222

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

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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.

www.sprintenergy.com.au

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