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Pine Cliff Energy Ltd. Announces Successful Completion of Rights Offering

Oct 26, 2007 - 11:59 PM ET

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.



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