CALGARY, Dec. 24 /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 program on the Canadon Ramirez property, located in the San Jorge Basin of Argentina in which the Company holds a 49 percent participating interest. Pine Cliff has completed testing and evaluating two of the three wells. The CR.X-7 well and the CR.X-8 well targeted multiple sands in the Upper-Mid Cretaceous Bajo Barreal and Castillo formations. Based on production tests, all zones tested in both wells were determined to be uneconomic. Pine Cliff is currently considering options available in regards to further testing of the CR.X-7 well and testing of the third well CR.X-11.
Further updates will be provided as additional information becomes available.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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