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Pine Cliff Energy Ltd. Announces a Farm In Arrangement in Argentina

Jun 12, 2007 - 11:59 PM ET

CALGARY, ALBERTA--(Marketwire - June 12, 2007) - Pine Cliff Energy Ltd. ("Pine Cliff" or "the Company") (www.pinecliffenergy.com) (TSX Venture: PNE) is pleased to announce that its 93% owned subsidiary, CanAmericas Energy Ltd. ("CanAmericas"), has completed another major farm in arrangement in Argentina. This farm in will result in Pine Cliff earning an interest in a total of 252,048 gross acres (63,012 net acres) of exploration and exploitation lands.

CanAmericas now has interest in 1,166,534 gross acres (net 606,431) in Argentina and is well positioned to proceed with aggressive exploration programs in the future.

CanAmericas has negotiated rights to earn a 25% working interest in 1,020 gross km(2) (63,012 net acres) in an exploration concession which is situated on the southeast flank of the prolific Neuquen Basin, Argentina. The concession is adjacent to the Estacion Fernandez Oro oil field situated to the northwest, and adjacent to Flor de Roca, General Roca, and Don Jose oil fields to the north. These fields collectively produce from the Lower Cretaceous - Jurassic aged Quintuco, Lotena, Los Molles, and Punto Rosada Formations. Additionally, it is believed that the Pre-Cuyo interval may also have significant potential, as it lies on trend with Chevron's La Yassera and Loma Negra fields. Expected target depths range from 500 - 2,200 m. There are 140 km of existing 2D seismic lines, but no wells have been drilled on the block. Plans include reprocessing the existing seismic data and acquiring 250 km(2) of proprietary 3D seismic to mature the inventory of existing leads. To earn this 25% working interest the Company has committed to pay 40% of the costs to acquire the 250 km(2) proprietary 3D seismic. The costs for 40% of the seismic program are estimated to be U.S. $1,080,000.00.

This Farm In Arrangement is subject to completion of due diligence by both parties.


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