Pine Cliff Energy Ltd. Confirms Monthly Dividend for January 31, 2023

Calgary, Alberta - Pine Cliff Energy Ltd. ('Pine Cliff' or the 'Company') (TSX: PNE) confirms a monthly dividend of $0.01083 per common share is to be paid January 31, 2023, to shareholders of record on January 16, 2023. The dividend is designated as an eligible dividend for Canadian income tax purposes.

About Pine Cliff

Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value. Further information relating

to Pine Cliff may be found on www.sedar.com as well as on Pine Cliff's website at www.pinecliffenergy.com

Contact:

Philip B. Hodge

President and CEO

Alan MacDonald

CFO and Corporate Secretary

Telephone: [phone]

Fax: [phone]

Email: [e-mail]

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