Pine Cliff Energy Ltd. Announces Appointment of Officers, Declares Monthly Dividend for May 31, 2024 and First Quarter 2024 Webcast Details

Calgary, Alberta--(Newsfile Corp. - May 1, 2024) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) ("Pine Cliff" or the "Company") is pleased to announce the appointments of Mr. Daniel Keenan P. Eng to the position of Vice President Exploitation and Mr. Austin Nieuwdorp CA, CPA to the position of Vice President Finance and Controller both effective May 1, 2024.

Mr. Keenan became part of Pine Cliff in 2016. He holds a Bachelor of Mechanical Engineering Degree from the University of Victoria obtained in 2001. Throughout his 20-year career, he has taken on increasingly challenging roles in exploitation, production operations and facilities engineering, culminating in his most recent position as Pine Cliff's Manager of Exploitation. Notably, Mr. Keenan has played a pivotal role in identifying and expanding Pine Cliff's asset portfolio and drilling opportunities, showcasing his leadership and strategic vision.

Mr. Nieuwdorp originally joined Pine Cliff in May 2015 and later returned to the company in June 2022. He earned his Bachelor of Management and Organizational Studies from the University of Western Ontario in 2010, and Chartered Accountant designation in 2014. Throughout his tenure, Mr. Nieuwdorp has played a vital role in Pine Cliff's financial reporting team, serving as Corporate Controller in his most recent capacity.

Declares Monthly Dividend

Pine Cliff has declared a regular monthly dividend of $0.005 per common share to be paid May 31, 2024, to shareholders of record on May 15, 2024. This dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes, until further notice. Please consult a tax advisor with any questions regarding the dividend designation.

First Quarter 2024 Results Webcast

Pine Cliff will host a webcast at 1:30 PM MDT (3:30 PM EDT) on Wednesday, May 8, 2024. Participants can access the live webcast via this Link or through the link provided on the Company's website. A recorded archive will be available on the Company's website following the live webcast.

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.ca as 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.

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