Pine Cliff Energy Ltd. says that the restructuring of Skope Energy Inc. and Skope Energy International Inc. (Skope) pursuant to the Companies' Creditors Arrangement Act (the "CCAA") is now complete. The Court of Queens' Bench of Alberta approved on February 19, 2013 the Plan of Compromise and Arrangement filed under the CCAA by Pine Cliff. Pine Cliff became the sole shareholder of Skope on February 19, 2013.

Skope's assets include an 80% working interest in a package of high quality, long-term, low decline producing shallow gas assets located in southeast Alberta and southwest Saskatchewan. These assets are currently producing approximately 3,500 barrels of oil equivalent (boe) per day, weighted 100% towards natural gas. McDaniel & Associates Consultants Ltd. is currently preparing its independent reserve estimates for the Skope assets as at December 31, 2012, which will be released by Pine Cliff in due course.

Tags: Pine Cliff Energy Ltd.