RXP.B Redcliffe Exploration

THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. PERSONS.

Redcliffe Exploration Inc. (TSX VENTURE:RXP.A) (TSX VENTURE:RXP.B) ("Redcliffe")
is pleased to announce that it has closed its previously announced "bought deal"
private placement financing through FirstEnergy Capital Corp. (the
"Underwriter") for 8,200,000 flow-through Class A shares (the "Shares") at $0.37
per Share for gross proceeds of $3,034,000 (the "Offering"). Gross proceeds from
the Offering will be used to incur qualifying flow-through expenditures. The
securities issued under the Offering are subject to a four month hold period,
expiring on April 18, 2010. In connection with the Offering, the Underwriter
received a commission of 6.0% of the gross proceeds, or $182,040.


Redcliffe is a Calgary based junior oil and gas company with operations in
northwest and central Alberta.


Reader Advisories

Forward-Looking Statements: This news release contains certain forward-looking
statements, within the meaning of applicable securities laws; in particular,
this news release contains forward-looking statements pertaining to the intended
use of the net proceeds of the Offering. Such forward-looking statements involve
substantial known and unknown risks and uncertainties, certain of which are
beyond Redcliffe's control. Such risks and uncertainties include, without
limitation, risks associated with oil and gas exploration, development,
exploitation, production, marketing and transportation, loss of markets,
volatility of commodity prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other producers, inability to
retain drilling rigs and other services, delays resulting from or inability to
obtain required regulatory approvals and ability to access sufficient capital
from internal and external sources, the impact of general economic conditions in
Canada, the United States and overseas, industry conditions, changes in laws and
regulations (including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced, increased competition, the
lack of availability of qualified personnel or management, fluctuations in
foreign exchange or interest rates, stock market volatility and market
valuations of companies with respect to announced transactions and the final
valuations thereof, and obtaining required approvals of regulatory authorities.
Redcliffe's actual results, performance or achievements could differ materially
from those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that Redcliffe will derive
there from. Readers are cautioned that the foregoing list of factors is not
exhaustive. Additional information on these and other factors that could affect
Redcliffe's operations and financial results are included in reports on file
with Canadian securities regulatory authorities and may be accessed through the
SEDAR website (www.sedar.com). All subsequent forward-looking statements,
whether written or oral, attributable to Redcliffe or persons acting on its
behalf are expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news release are
made as at the date of this news release and Redcliffe does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as may be required by applicable securities laws.

Redcliffe Exploration (TSXV:RXP.B)
Historical Stock Chart
From May 2024 to Jun 2024

Redcliffe Exploration (TSXV:RXP.B)
Historical Stock Chart
From Jun 2023 to Jun 2024