|Pine Cliff Energy Ltd. - PNE.t is engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids.|
The Company has three major operated core areas, most in Alberta. Central assets, Edson assets and southern assets.
"Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) announces that it has entered into an agreement with the Company's syndicate of Canadian Financial Institutions to extend the borrowing base redetermination date to June 30, 2016. Pine Cliff continues to consider various options to improve its balance sheet while at the same time preserving the core business of the Company. These options include sale of non-core investments and assets, infrastructure options and financings (debt or equity).
About Pine Cliff
Pine Cliff is a natural gas company with a long-term view of creating shareholder value. Pine Cliff's current focus is on acquiring long life assets that are cash flow positive in a low commodity price environment. Further information relating to Pine Cliff may be found on www.sedar.com as well as on Pine Cliff's website at www.pinecliffenergy.com.