Calgary, Alberta — March 5, 2026 — Leads & Copy — Pine Cliff Energy Ltd. announced its 2025 annual results, the filing of disclosure documents, year-end reserves and a dividend declaration.
The company (TSX: PNE) (OTCQX: PIFYF) generated $7.8 million ($0.02 per basic and fully diluted share) of adjusted funds flow for the three months ended December 31, 2025, compared to $8.6 million for the same period in 2024. The company also generated $29.9 million ($0.08 per basic and fully diluted share) of adjusted funds flow for the year ended December 31, 2025, compared to $38.0 million for the same period in 2024.
Pine Cliff reduced its net debt by $12.7 million, or 20%, to $49.6 million as of December 31, 2025, compared to $62.3 million at the end of 2024.
Production averaged 20,173 Boe/d during the three months ended December 31, 2025, and 20,763 Boe/d during the year, an 11% decrease from 2024.
Proceeds from dispositions totaled $16.2 million in 2025, including $14.9 million in the fourth quarter.
Capital expenditures totaled $8.7 million and $14.8 million for the three months and year ended December 31, 2025, compared to $nil and $2.5 million for the same periods in 2024.
Dividends paid totaled $1.3 million ($0.004 per basic and fully diluted share) and $9.4 million ($0.026 per basic and fully diluted share) during the three months and year ended December 31, 2025, compared to $5.4 million and $25.6 million for the same periods in 2024.
Net income for the three months ended December 31, 2025 was $3.8 million ($0.01 per basic and fully diluted share), while the net loss for the year ended December 31, 2025, was $12.1 million ($0.03 per basic and fully diluted share). This compares to a net loss of $5.6 million and $21.4 million for the comparable periods in 2024.
The filings included Pine Cliff’s annual information form, which includes disclosure and reports related to reserves data and other oil and gas information, and its consolidated financial statements and related management’s discussion and analysis for the year ended December 31, 2025.
Pine Cliff will host a live webcast at 9:00 AM MDT (11:00 AM EDT) on Thursday, March 5, 2026. A recorded archive of the webcast will be available on the Company’s website following the live webcast.
Pine Cliff’s independent reserve report showed a net present value for Total Proved plus Probable reserves of $534.6 million, discounted at 10%, a reduction of $13.5 million, or 2%, from December 31, 2024.
Pine Cliff increased its 2025 TPP reserves by 6.3 MMBoe prior to adjusting for 2025 production, representing a reserve replacement ratio of 83%.
Remaining TPP reserves of 92.8 MMBoe at December 31, 2025 were down 1.4% from 94.1 MMBoe at December 31, 2024.
Approximately 67% of total reserve volumes are classified as total proved reserves on December 31, 2025, an increase from 64% in the previous year.
McDaniel has used a three-consultant average price forecast, resulting in a price forecast of $3.00 and $3.30 per MMBtu for AECO natural gas and US$59.92 and US$65.10 per Bbl for WTI oil in 2026 and 2027 respectively.
Pine Cliff has declared a regular monthly dividend of $0.00125 per common share to be paid March 31, 2026, to shareholders of record on March 16, 2026. The dividend is designated as a non-eligible dividend for Canadian income tax purposes.
Pine Cliff’s Board of Directors has approved a 2026 capital expenditure budget of $15.2 million, including $6.5 million of abandonment and reclamation spending, facility maintenance spending and the completion costs for one gross (1.0 net) Glauconite well drilled in late 2025.
Pine Cliff’s AECO hedge position is approximately 37% of gross natural gas production at an average price of $3.19/Mcf for 2026. Approximately 31% of gross crude oil production has been hedged at an average price of US$63.45/Bbl for 2026.
Source: Pine Cliff Energy Ltd.
