News Releases

Pine Cliff Energy Ltd. - Update on Argentina Drill Program

Dec 28, 2008 - 11:59 PM ET

CALGARY, ALBERTA--(Marketwire - Dec. 24, 2008) - Pine Cliff Energy Ltd. ("Pine Cliff" or "the Company") (www.pinecliffenergy.com) (TSX Venture: PNE) provides the following update with regard to its three well drill program on the Canadon Ramirez property, located in the San Jorge Basin of Argentina in which the Company holds a 49 percent participating interest. Pine Cliff has completed testing and evaluating two of the three wells. The CR.X-7 well and the CR.X-8 well targeted multiple sands in the Upper-Mid Cretaceous Bajo Barreal and Castillo formations. Based on production tests, all zones tested in both wells were determined to be uneconomic. Pine Cliff is currently considering options available in regards to further testing of the CR.X-7 well and testing of the third well CR.X-11.

Further updates will be provided as additional information becomes available.



FOR FURTHER INFORMATION PLEASE CONTACT:

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