Pine Cliff Energy Ltd. is pleased to announce 2019 year-end reserves and 2020 guidance. Reserve Report Highlights Pine Cliff's independent reserve report was prepared by McDaniel & Associates Limited in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities with the effective date of December 31, 2019. Pine Cliff conducted a $10.3 million capital program in 2019 . Development capital [...]
Pine Cliff Energy Ltd. is pleased to provide an update on its Pekisko development program which continues to demonstrate encouraging results. Pekisko Development Program Update Pine Cliff's first horizontal oil well targeting the Pekisko formation in Central Alberta came on production on January 18, 2019, and has averaged 249 Boe/d through the first 365 days of production. Two additional Pekisko wells were drilled in the [...]
Pine Cliff Energy Ltd. announces the resignation of Cheryne Lowe, Pine Cliff's Chief Financial Officer and Corporate Secretary to pursue other opportunities, effective December 4th, 2019. The Company would like to thank Ms. Lowe for her leadership and contributions and wish her all the best in the future. The Company has appointed Alan MacDonald Chief Financial Officer and Corporate Secretary, effective December 4, 2019 [...]
Pine Cliff Energy Ltd. announces that it has granted an aggregate of 5,463,768 stock options to its directors, officers and employees, of which 2,880,350 were granted to its directors and officers. The stock options vest between one to three years, have an exercise price of $0.145 per share and will expire between November 8, 2021 and November 8, 2023. As of the date hereof and after the grant of the options described [...]
Pine Cliff Energy Ltd. is pleased to announce the filing of its third quarter financial and operating results. Included in the filings were Pine Cliff's unaudited interim condensed consolidated financial statements and related management's discussion and analysis for the three and nine months ended September 30, 2019 . Selected highlights are shown below and should be read in conjunction with the Q3-Report. The third [...]
Pine Cliff Energy Ltd. is pleased to announce that it has entered into an agreement to refinance its existing $30 million in promissory notes due on September 30, 2020. Additionally, Pine Cliff has extended the term of its subordinated debt with insiders of the Company totaling $12 million . Refinancing of Notes Pine Cliff has entered into a credit agreement with Alberta Investment Management Corporation , acting on [...]
Pine Cliff Energy Ltd. is pleased to announce the filing of its second quarter financial and operating results. Included in the filings were Pine Cliff's unaudited interim condensed consolidated financial statements and related management's discussion and analysis for the three and six months ended June 30, 2019 . Selected highlights are shown below and should be read in conjunction with the Q2-Report. After a strong [...]
Pine Cliff Energy Ltd. is pleased to announce that its previously announced acquisition to acquire oil and natural gas assets in the Ghost Pine area of Central Alberta for net cash consideration of $8.6 million, after estimated closing adjustments , has now closed. Pine Cliff is also pleased to announce that is has closed both private placements of flow through shares for gross proceeds of $4.0 million and common shares [...]
Pine Cliff Energy Ltd. is pleased to announce all matters presented for approval at the annual and special meeting of shareholders on May 15, 2019 have been approved. A total of 112,989,395 common shares representing 36.80% of Pine Cliff's issued and outstanding common shares were voted in connection with the Meeting. All of the nominees proposed as directors were duly elected and each of the directors received the [...]
Pine Cliff Energy Ltd. has completed its semi-annual borrowing base review and has entered into a Restated Credit Agreement with its banking syndicate of Canadian Financial Institutions for a $5.0 million revolving credit facility, consisting of a $2.7 million operating facility and $2.3 million syndicated facility . The Credit Facility matures on July 28, 2019 and any amounts drawn are payable on that date. As of May 14 [...]
Pine Cliff Energy Ltd. is pleased to announce the filing of its first quarter financial and operating results. Included in the filings were Pine Cliff's unaudited interim condensed consolidated financial statements and related management's discussion and analysis for the three months ended March 31, 2019 . Selected highlights are shown below and should be read in conjunction with the Q1-Report. First Quarter 2019 [...]
Pine Cliff Energy Ltd. is pleased to announce that it has entered into an agreement to acquire oil and natural gas assets in the Ghost Pine area of Central Alberta for net cash consideration of $8.6 million, after estimated closing adjustments . The Acquisition will have an effective date of October 1, 2018 and is expected to close on or around May 31, 2019 . The purchase and sale agreement related to the Acquisition [...]
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