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PINE CLIFF ENERGY LTD - PIFYF STOCK NEWS

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Pine Cliff Energy Ltd. (PIFYF) is a natural gas and oil company based in Calgary, Alberta. With a focus on creating shareholder value, the company acquires, develops, and operates long-life assets to generate adjusted funds flow for dividends. Recent achievements include the completion of NTU Pekisko oil wells, an update to 2023 guidance, and the declaration of a monthly dividend. Pine Cliff is committed to maximizing capital efficiency and aims to maintain strong production levels despite market volatility.

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Pine Cliff Energy has announced a regular monthly dividend of $0.005 per common share, payable on December 31, 2024, to shareholders of record on December 16, 2024. These dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes.

The company has also extended its temporary increased demand loan facility with a Canadian chartered bank, maintaining it at $15.0 million until April 30, 2025. This extension modifies the previous arrangement that would have reduced the loan to $12.0 million on December 1, 2024.

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Pine Cliff Energy reported Q3 2024 financial results with adjusted funds flow of $8.1 million ($0.02 per share), down from $17.1 million in Q3 2023. Production averaged 22,546 Boe/d, 8% higher year-over-year, despite temporary impacts from maintenance-related outages. The company reported a net loss of $6.9 million compared to net income of $4.2 million in Q3 2023. Pine Cliff has lowered its 2024 capital spending guidance to $12.0 million from $17.5 million, while maintaining production guidance at 23,250-23,750 Boe/d. The company has hedged 44% of natural gas production at $2.77/Mcf and 51% of crude oil production at $100.79/Bbl through Q4 2024.

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Pine Cliff Energy (TSX: PNE) has announced a regular monthly dividend of $0.005 per common share, payable on November 29, 2024, to shareholders of record as of November 15, 2024. The company notes these dividends are expected to be designated as non-eligible dividends for Canadian tax purposes. Additionally, Pine Cliff will host a webcast to discuss their Third Quarter 2024 results on November 14th, 2024, at 9:00 AM MDT.

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Pine Cliff Energy (TSX: PNE) (OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share for October 2024. The dividend is scheduled to be paid on October 31, 2024, to shareholders of record as of October 15, 2024. Pine Cliff has indicated that this dividend, along with future dividends, are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. This announcement demonstrates the company's commitment to providing regular returns to its shareholders.

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Pine Cliff Energy (TSX: PNE) (OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share. The dividend will be paid on September 27, 2024, to shareholders of record as of September 16, 2024. Pine Cliff has indicated that this dividend, along with future dividends, is expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, albeit at a modest rate.

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Pine Cliff Energy (TSX: PNE) has released its second quarter 2024 financial and operating results, along with a guidance update. The company generated $10.8 million in adjusted funds flow for Q2 2024, down from $12.0 million in Q2 2023. Production averaged 23,688 Boe/d, a 17% increase from the same period last year. Pine Cliff paid dividends of $5.4 million ($0.02 per share) in Q2 2024, compared to $11.5 million ($0.03 per share) in Q2 2023.

The company reported a net loss of $4.1 million for Q2 2024, compared to a net loss of $0.9 million in Q2 2023. Pine Cliff has reduced its 2024 production guidance to 23,250 - 23,750 Boe/d from the previous 24,000 - 25,000 Boe/d due to maintenance-related outages and weak gas prices. The company has hedged approximately 45% of its gross natural gas production and 55% of its gross crude oil production for the second half of 2024.

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Pine Cliff Energy (TSX: PNE) (OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share, payable on August 30, 2024, to shareholders of record on August 15, 2024. The company notes that this and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice.

Additionally, Pine Cliff will be hosting a webcast to discuss its Second Quarter 2024 results on Friday, August 9th, 2024, at 9:00 AM MDT (11:00 AM EDT). Investors can access the live webcast through the provided link or via telephone. A recorded archive will be available on the company's website following the live event.

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Pine Cliff Energy (TSX: PNE, OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share. Shareholders on record by July 15, 2024, will receive the dividend on July 31, 2024.

This dividend, along with future ones, is classified as non-eligible for Canadian income tax purposes.

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Pine Cliff Energy (TSX: PNE, OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share, payable on June 28, 2024, to shareholders on record as of June 14, 2024. The dividends are designated as non-eligible for Canadian income tax purposes until further notice. This announcement maintains the company's commitment to providing consistent returns to its shareholders.

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Pine Cliff Energy (TSX: PNE) announced the results of its annual shareholders' meeting held on May 16, 2024. All proposals were approved, with 42.08% of issued shares voted. Six directors were re-elected, with Philip B. Hodge receiving the highest approval at 99.86%. Deloitte LLP was appointed as auditors. Additionally, the Board approved an annual stock option grant totaling 11,989,857 options to directors, officers, and employees. These options, priced at $1.02 per share, will vest over one to three years and expire between May 16, 2026, and May 16, 2028.

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FAQ

What is the current stock price of PINE CLIFF ENERGY (PIFYF)?

The current stock price of PINE CLIFF ENERGY (PIFYF) is $0.5601 as of December 23, 2024.

What is the market cap of PINE CLIFF ENERGY (PIFYF)?

The market cap of PINE CLIFF ENERGY (PIFYF) is approximately 221.0M.

What does Pine Cliff Energy Ltd. specialize in?

Pine Cliff Energy Ltd. focuses on acquiring, developing, and operating long-life assets in the natural gas and oil sector to generate adjusted funds flow for dividends.

What are some recent achievements of Pine Cliff Energy Ltd.?

Recent achievements of Pine Cliff Energy Ltd. include the completion of NTU Pekisko oil wells, an update to 2023 guidance, and the declaration of a monthly dividend.

How does Pine Cliff Energy Ltd. plan to maximize capital efficiency?

Pine Cliff Energy Ltd. plans to maximize capital efficiency by deferring the drilling of budgeted wells to 2024 and replacing some expenditures with recompletion work to benefit from economies of scale.

What is Pine Cliff Energy Ltd.'s production guidance for 2023?

Pine Cliff Energy Ltd. has narrowed its 2023 annual production guidance to a range of 20,000 Boe/d to 20,500 Boe/d, weighted 85% to natural gas.

How does Pine Cliff Energy Ltd. recognize the impact of market volatility?

Pine Cliff Energy Ltd. responds to weak natural gas prices by increasing its AECO hedge position to approximately 37% of gross natural gas production for the next three quarters of 2024.

When will Pine Cliff Energy Ltd.'s acquisition of Certus Oil & Gas Inc. be completed?

Pine Cliff Energy Ltd. expects the acquisition of Certus Oil & Gas Inc. to close in December 2023, following the mailing of its Takeover Bid Circular to Certus shareholders.

Where can I find more information about Pine Cliff Energy Ltd.?

Further information about Pine Cliff Energy Ltd. can be found on www.sedarplus.ca and the company's website at www.pinecliffenergy.com.

PINE CLIFF ENERGY LTD

OTC:PIFYF

PIFYF Rankings

PIFYF Stock Data

220.95M
276.36M
10.92%
11.57%
Oil & Gas E&P
Energy
Link
United States of America
Calgary