Pine Cliff Energy Ltd.

October 26, 2007 23:59 ET

Pine Cliff Energy Ltd. Announces Successful Completion of Rights Offering

CALGARY, ALBERTA--(Marketwire - Oct. 26, 2007) -

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE

UNITED STATES/

Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (www.pinecliffenergy.com) (TSX Venture: PNE) is pleased to announce it has successfully completed the rights offering previously announced on August 17 and September 24, 2007. A total of 8,312,654 common shares of the Company were subscribed for at a price of $1.10 per common share for total gross proceeds of $9,143,919.40. Approximately 85.24% of the rights issued under the offering were exercised.

Pine Cliff intends to use the net proceeds to fund Pine Cliff's exploration, development, acquisitions and farm-in commitments in South America and Canada and for general corporate purposes.

Contact Information

  • Pine Cliff Energy Ltd.
    George F. Fink
    President and CEO
    (403) 269-2289
    Fax: (403) 265-7488

    OR

    Pine Cliff Energy Ltd.
    Randy M. Jarock
    COO
    (403) 269-2289
    Fax: (403) 265-7488


    OR


    Pine Cliff Energy Ltd.
    Kirsten Kulyk
    Manager, Investor Relations
    (403) 269-2289
    Fax: (403) 265-7488
    info@pinecliffenergy.com