CYCLIQ GROUP LTD — Capital/Financing Update 2012

Feb 28, 2012

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29 February 2012

ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000

ETERNAL RESOURCES LIMITED ACQUISITION UPDATE

On 13 February 2012, Sprint Energy Resources Limited (“Sprint”) (ASX Code: SPS) announced that it has entered into an exclusive option agreement to acquire Eternal Resources Ltd (“Eternal”) and its entire production, appraisal and exploration asset portfolio in Louisiana, USA.

Sprint has been in discussions with ASX and as there are related party shareholders in Eternal, Chapter 10 of the Listing Rules will apply and therefore any necessary shareholder approvals will be sought by the Company.

The Company also advises that the proportion of the acquisition consideration of $4,000,000 receivable by related parties will be in the form of 12 month restricted securities.

Sprint is continuing with technical, economic and legal due diligence on Eternal and its assets. Based on the outcome of this due diligence the Board will then make a decision whether to execute the option and seek approval for the acquisition at a General Meeting of Shareholders.

Further details on this opportunity and an indicative general meeting timetable will be provided to shareholders in the coming weeks.

Yours sincerely Sprint Energy Ltd

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Andrew P Mattin, MAICD Managing Director

For further information please contact:

Andrew Mattin Managing Director Phone: +61 3 9692 7222 Email: andrew.mattin@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 currently the gulf coast, USA.

Sprint Energy Ltd Suite 304, 22 St Kilda Road St Kilda Victoria 3182 P +61 3 9692 7222 f +61 3 9529 8057 www.sprintenergy.com.au