Nov 9 (Reuters) - Pine Cliff Energy Ltd PNE.V :
* Announces $185 million strategic acquisition, $60 million offering, private
placement and operations update
* Entered agreement with oil and gas producer to buy certain mainly natural gas
weighted assets in the viking area of central Alberta
* To also buy certain mainly natural gas weighted assets in ghost Pine area of
central Alberta
* Production of assets at the effective date of the acquisition, was
approximately 11,730 barrels of oil equivalent ("boe") per day
* Underwriters to buy 55.6 million subscription receipts of Pine Cliff at a
price of $1.08 per subscription receipt
* Net proceeds of the offering will be used by Pine Cliff to fund a portion of
the purchase price for the acquisition
* On track to meet 2015 production guidance of 11,800-12,300 boepd,lowering
planned capital spending from $10 million to $7.5 million
* Current production is approximately 12,800 boe per day (94% natural gas),
based on field estimates
* Source text for Eikon ID:nCCNbC6MTr
* Further company coverage PNE.V