Pine Cliff Energy Expands 2026 Development Program, Launches New Credit Facility

Pine Cliff Energy Ltd., a natural gas and crude oil company based in Alberta, has announced an expansion of its 2026 development program and the introduction of a new credit facility, along with a regular monthly dividend for October 30, 2026.

The company is set to drill two gross Glauconite wells in the Caroline area and one gross Pekisko oil well in the Three Hills area. Pine Cliff is partnering with a third party on the capital costs and production from the Glauconite wells, which includes the well currently being drilled and initially announced in the company's second quarter results on August 12, 2026. The 2026 capital expenditure budget remains at $27 million.

In addition to the drilling plans, Pine Cliff has entered into a new syndicated credit facility with a maturity date of September 30, 2029. This credit facility provides the company with access to $15 million of additional capital to support future drilling opportunities up to and including June 30, 2027, as required.

The company has also declared a regular monthly dividend of $0.00125 per common share to be paid on October 30, 2026, to shareholders of record on October 15, 2026. The dividend is designated as an eligible dividend for Canadian income tax purposes.

Pine Cliff Energy Ltd. continues to focus on creating shareholder value through its exploration and production activities in Alberta. The company's long-term strategy involves expanding its operations and securing additional capital to support future growth.