Pine Cliff Energy Ltd. press release

Pine Cliff Energy Ltd. Announces Expanded 2026 Development Program, New Credit Facility and Monthly Dividend for October 30, 2026

2026-10-07

TSX - Toronto Stock Exchange · Canada · Project Development

Calgary, Alberta--(Newsfile Corp. - October 7, 2026) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF)("Pine Cliff" or the "Company") is pleased to announce that it is expanding its 2026 development program in Central Alberta with the intent to drill two gross Glauconite wells in the Caroline area and one gross Pekisko oil well in the Three Hills area. The Company 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 of $27 million is unchanged.

New Credit Facility

Pine Cliff has also entered a new syndicated credit facility with a maturity of September 30, 2029. The credit facility provides access to $15 million of additional capital to support future drilling opportunities up to and including June 30, 2027, as required.

October Dividend

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

About Pine Cliff

Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on sedarplus.caas well as on Pine Cliff's website at www.pinecliffenergy.com.

For further information, please contact:

Philip B. Hodge – President and CEO Kristopher B. Zack – CFO and Corporate Secretary Telephone: (403) 269-2289 Fax: (403) 265-7488 Email: info@pinecliffenergy.com

The TSX does not accept responsibility for the accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317995