Pine Cliff Energy Ltd. Update on Argentina Drill Program

About this update from Pine Cliff Energy Ltd.

[{"type":"text","content":"\n\n\n\nCALGARY, June 4 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff" or "the\nCompany") (www.pinecliffenergy.com) (TSX Venture: PNE) provides the following\nupdate with regard to its three well drill programs on the Canadón Ramirez\nproperty, located in the San Jorge Basin of Argentina.\n\n\nDrilling of the three wells has been completed. Testing of the first well\ndrilled had commenced but had to be temporarily suspended.\n\n\nThe suspension of operations is mainly attributable to oilfield workers\ngoing on strike and a shortage of diesel fuel in Argentina. Extremely unusual\nnatural factors also temporarily shut down operations in this area. A winter\nsnow storm, a volcano eruption (a first in over 9,000 years), and an\nearthquake prevented travel to the area or for workers to be in the area\nbecause of potential health and safety issues. None of these events have had\nany implications on the Company's operations.\n\n\nPine Cliff continues to be in contact with the operator in Argentina to\ndetermine when the strike may be over and when the short supply of diesel fuel\nhas been rectified and activities can be resumed. A shortage of most\ncommodities now exists in Argentina and the Federal government will likely\nhave to modify its energy policy to entice oil and natural gas companies to\nbecome more active again.\n\n\nFurther updates will be provided as additional information becomes\navailable.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\nAdditional information relating to the Company may be found on SEDAR.COM \nas well as on the Company's website at www.pinecliffenergy.com.\n\n\n%SEDAR: 00021536E\n\n\n","length":1788,"tagName":"div"}]

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