Pine Cliff Energy TSX:PNE Stock Report

Pine Cliff Energy Ltd. Announce the Appointment of Calvin Jacober to Board of Directors

Pine Cliff Energy Ltd. announced the appointment of Mr. Calvin Jacober to its Board of Directors. Mr. Jacober was most recently the Vice Chair Canada for PricewaterhouseCoopers LLP (PwC) until his retirement earlier this year. Prior thereto, he was both the Managing Partner and the Assurance Leader for PwC's Calgary office, responsible for management of all aspects of PwC's Calgary office, including promoting PwC's brand in the market across all lines of services and developing a culture of collaboration while promoting core values of diversity and inclusion. Mr. Jacober has provided both US and Canadian GAAP expertise to Canadian public Audit Committees and Boards for over 30 years, including on public offerings and market transactions. Mr. Jacober has significant boardroom experience reporting to Audit Committees on audit strategy and risks, internal controls and other complex accounting issues. Mr. Jacober has a Bachelor of Business from the University of Alberta and is a Chartered Professional Accountant.

Second quarter 2022 earnings released: EPS: CA$0.14 (vs CA$0.002 loss in 2Q 2021)

Second quarter 2022 results: EPS: CA$0.14 (up from CA$0.002 loss in 2Q 2021). Revenue: CA$82.8m (up 164% from 2Q 2021). Net income: CA$50.2m (up CA$50.9m from 2Q 2021). Profit margin: 61% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has increased by 150% per year, which means it is tracking significantly ahead of earnings growth.

Pine Cliff Energy Ltd. Declares Monthly Dividend, Payable on August 31, 2022

Investor sentiment improved over the past week

After last week's 16% share price gain to CA$1.84, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 8x in the Oil and Gas industry in Canada. Total returns to shareholders of 1,277% over the past three years.