CALGARY, June 4 /CNW/ - 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 programs on the Canadsn Ramirez
property, located in the San Jorge Basin of Argentina.
Drilling of the three wells has been completed. Testing of the first well
drilled had commenced but had to be temporarily suspended.
The suspension of operations is mainly attributable to oilfield workers
going on strike and a shortage of diesel fuel in Argentina. Extremely unusual
natural factors also temporarily shut down operations in this area. A winter
snow storm, a volcano eruption (a first in over 9,000 years), and an
earthquake prevented travel to the area or for workers to be in the area
because of potential health and safety issues. None of these events have had
any implications on the Company's operations.
Pine Cliff continues to be in contact with the operator in Argentina to
determine when the strike may be over and when the short supply of diesel fuel
has been rectified and activities can be resumed. A shortage of most
commodities now exists in Argentina and the Federal government will likely
have to modify its energy policy to entice oil and natural gas companies to
become more active again.
Further updates will be provided as additional information becomes
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Additional information relating to the Company may be found on SEDAR.COM
as well as on the Company's website at www.pinecliffenergy.com.
For further information:
For further information: George F. Fink, President and CEO, or Randy M.
Jarock, COO, at (403) 269-2289 or by fax at (403) 265-7488