Pine Cliff Energy Ltd. Updates Operations in Argentina
TSX - Toronto Stock Exchange
CALGARY, April 16 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff" or "the Company") (www.pinecliffenergy.com) (TSX Venture: PNE) is pleased to announce that:
the first well of its three well drilling program on the Canadón Ramirez property, located in the San Jorge Basin of Argentina, has been spudded. The program will test three different 3D seismic anomalies. It is estimated that each well will require ten days to drill. Pine Cliff has an option to earn a 49 percent working interest in the property (47,940 gross acres);
the Company is participating with its partners in a 3D geophysical program that has commenced on the Laguna de Piedra property, located in the Neuquen Basin of Argentina. The program includes reprocessing existing 2D seismic data and completion of a 250 square kilometer 3D seismic program. After completion of this program, Pine Cliff will have earned a 25 percent working interest in the property (252,900 gross acres).
Further releases will be made as material information becomes available.
Additional information relating to the Company may be found on SEDAR.COM as well as on the Company's website at www.pinecliffenergy.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
%SEDAR: 00021536E