Pine Cliff Energy Ltd.

 
Array
(
    [symbol] => PNE
    [exchange] => TSX Venture Exchange
    [compname] => PINE CLIFF ENERGY LTD
    [date] => May 24, 2013
    [time] => 12:04 ET
    [open] => 0.82
    [high] => 0.82
    [low] => 0.81
    [last] => 0.81
    [tick] => Down
    [img] => 
    [pclose] => 0.83
    [price_change] => -0.02
    [per_change] => -2.410%
    [volume] => 22,500
    [yearlow] => 0.60
    [yearhigh] => 1.00
    [bidprice] => 0.82
    [askprice] => 0.84
    [bidsize] => 200
    [asksize] => 2000
)
TSX Venture Exchange (PNE) $0.81 Change -0.02 | -2.410%

Oil and Gas Division

Carrot Creek Assets

The acquisition of the Carrot Creek assets in the first quarter of 2012 provided Pine Cliff with its first core area in the Western Canadian Sedimentary Basin.

Multi-Zone Area Targeting Viking, Gething/Ellerslie, Wilrich, Notikewin, Ostracod, Lower Mannville, Fernie Sand and Rock Creek
Average Working Interest 31%; Production is ~90% operated
Land 49.5 gross sections; 31,680 gross acres (10,236 net acres)
High Quality Liquids Production Approximately 23% oil and liquids
NGLs pricing was 70% of oil pricing (Edmonton Par) in Q1 2013
Strategic Partners Pine Cliff has active partners in the area providing access to infrastructure and creating potential for operational synergies

 

Southern Alberta Assets

Pine Cliff completed its acquisition of the Southern Alberta assets on February 19, 2013 which included an 80% working interest in a package of high quality, long-term, low decline producing shallow gas assets. These assets are weighted 100% towards natural gas.

Multi-Zone Area Targeting upper Cretaceous Milk River, Medicine Hat and Second White Specks
Average Working Interest 73%
Land 686 gross sections;
438,754 gross acres (319,222 net acres)
Low Decline Rate Less than 15%
Low Cost Production  
Significant Upside Potential Strong leverage to natural gas price recovery

 

Other Assets

In addition to its two core areas, Pine Cliff has minor production from its other assets. These include liquids rich natural gas assets in the Sundance area of Alberta, liquids rich natural gas assets in the Carstairs, Garrington and Harmattan areas of Alberta and natural gas assets in the Cadillac and Wymark/Vidora areas of southern Saskatchewan.