Pine Cliff Energy Ltd.says that Skope Energy Inc.'s (Skope) proceedings under the Companies' Creditors Arrangement Act (the "CCAA") are ongoing. On January 15, 2013, Pine Cliff obtained an order from the Court of Queen's Bench of Alberta (the "Court") to, among other things, accept the filing of a plan of compromise and arrangement under the CCAA by Pine Cliff concerning, affecting and involving Skope (the "Plan").

A meeting of Skope's affected creditors will be held on February 15, 2013. Pine Cliff intends to apply for an order of the Court sanctioning the Plan under the CCAA on February 19, 2013 at 2:30 pm (Calgary time). If the Plan is approved by the affected creditors of Skope and the Court, the date on which the Plan will become effective is expected to be on or about February 20, 2013, at which time Pine Cliff will become the sole shareholder of Skope.

Tags: Pine Cliff Energy Ltd.