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Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting, and Annual Stock Option Grant

May 19, 2021
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Pine Cliff Energy Ltd. Announces First Quarter 2021 Results

May 5, 2021

In the first quarter of 2021, Pine Cliff generated the highest total revenue and adjusted funds flow since the second quarter of 2017.

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Pine Cliff Energy Ltd. Announces Extension of Insider Loan Facility, Changes to Board of Directors and Provides Information

April 20, 2021

Mr. Randy Jarock has advised the Company that he will not be standing for re-election to the Board of Directors at the Company's upcoming Annual and Special Meeting of Shareholders (the "Meeting"). Pine Cliff would like to thank Mr. Jarock for his valued service to the Company over the past nine years and wishes him well in his future endeavors.

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Pine Cliff Energy Ltd. Announces Annual 2020 Results and Filing of 2020 Disclosure Documents

March 9, 2021

Pine Cliff's adjusted funds flow of $8.0 million generated during the fourth quarter of 2020 was the highest quarterly adjusted funds flow for the Company since the second quarter of 2017. Stable and improved natural gas prices, combined with Pine Cliff's portfolio of low decline assets, highlights the Company's business model that provides for adjusted funds flow growth in a rising natural gas price environment.

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Pine Cliff Energy Ltd. Provides Operations Update and Announces 2020 Year-End Reserves and 2021 Guidance

February 10, 2021

Pine Cliff's fourth quarter 2020 production averaged 19,130 Boe per day, weighted 91% to natural gas. This resulted in the average production for the year being 19,005 Boe per day, exceeding the Company's 18,500 to 19,000 annual 2020 guidance range. This production was achieved with the Company only spending $2.3 million on development drilling in 2020. Stable natural gas prices and the ability to produce natural gas into storage uninterrupted during 2020 enabled Pine Cliff to maximize production rates in 2020.

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Pine Cliff Energy Ltd. Announces Third Quarter 2020 Results

November 3, 2020

The third quarter of 2020 saw the steady recovery of crude oil prices along with stable natural gas prices. Pine Cliff benefited from AECO 5A benchmark pricing averaging $2.23 per mcf for the quarter, resulting in Pine Cliff generating positive adjusted funds flow of $809,000.

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Pine Cliff Energy Ltd. Announces Second Quarter 2020 Results and Insider Loan Facility

August 5, 2020

The second quarter of 2020 was dominated by the collapse of crude oil and liquids prices due to global over-supply combined with demand destruction from the coronavirus ("COVID-19") pandemic.

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Pine Cliff Energy Ltd. Announces First Quarter 2020 Results and Annual General Meeting Update

June 6, 2020

The first quarter of 2020 had a promising start with the production performance of all three of Pine Cliff's Pekisko oil wells continuing to outperform internal expectations.

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Pine Cliff Energy Ltd. Announces Results of Shareholders' Meeting, Election of New Director and Annual Stock Option Grant

May 21, 2020

All of the nominees proposed as directors were duly elected, including Ms. Jacqueline R. Ricci. Ms. Ricci has been a Vice President and Director at J. Zechner Associates, Toronto, Ontario, since 1997, where she is responsible for stock selection and portfolio mix in J. Zechner's Canadian Small/Mid-Capitalization Portfolios. In this position, Ms. Ricci has significant experience evaluating business plans and management performance in small and mid-capitalization companies in the Canadian market.

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Pine Cliff Energy Ltd. Announces Annual 2019 Results and Filing of 2019 Disclosure Documents

March 11, 2020

Pine Cliff's natural gas market diversification strategy was successful in generating positive adjusted funds flow in 2019, despite enduring one of the lowest AECO gas prices in 20 years. Pine Cliff was also able to use its extensive seismic database to expand the Company's prospect inventory by identifying a number of drilling locations on its existing land base and during the fourth quarter, drilled two 100% Pekisko oils wells.

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