Redcliffe Announces Equity Financings

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Redcliffe Exploration Inc. ("Redcliffe" or the "Company") (TSX VENTURE:RXP.A)
(TSX VENTURE:RXP.B) is pleased to announce that it has completed the first
tranche of a non-brokered private placement financing to individual European
investors, pursuant to which it has issued a total of 17,543,000 Class A Shares
of the Company ("Class A Shares") at a price of $0.25 per share for aggregate
gross proceeds of $4,385,750. The Class A Shares issued pursuant to the private
placement will be subject to a hold period expiring on October 31, 2009. The
Company anticipates closing a second tranche of the private placement financing
of up to an additional 1,257,000 Class A Shares for additional gross proceeds of
up to $314,250 on or about July 8, 2009.


In addition, Redcliffe is pleased to announce that it has engaged Richardson
Partners Financial Limited to act as lead agent for a marketed offering (the
"Offering") of 14,000,000 Class A Shares at a price of $0.25 per share for
aggregate gross proceeds of up to $3,500,000. The syndicate for the Offering
will include FirstEnergy Capital Corp. The Offering has been established to
allow existing shareholders of Redcliffe to participate in the combined equity
financings being undertaken by the Company. Insiders of Redcliffe have indicated
that they intend to participate in the Offering.


Redcliffe intends to use the net proceeds of the Offering to reduce outstanding
debt under its revolving demand credit facility, thereby freeing up borrowing
capacity which can be re-drawn and applied as needed to fund the Company's
ongoing capital expenditure program. 


The Class A Shares will be offered in the provinces of British Columbia,
Alberta, Manitoba and Ontario by way of short form prospectus. The closing of
the Offering is expected to occur on or about July 23, 2009, and is subject to
certain conditions, including, but not limited to, the receipt of all necessary
regulatory approvals, including the approval of the TSX Venture Exchange and
receipt for the final prospectus from the applicable regulatory authorities. The
Class A Shares issued pursuant to the Offering will not be subject to a hold
period.


The Company also announces that Uldis Upitis, a director of Redcliffe, has been
appointed Chairman of the Board of Directors, replacing Daryl Connolly who has
vacated this position to focus his time and efforts on his primary roles as
President and Chief Executive Officer of the Company. 


This news release shall not constitute an offer to sell or the solicitation of
any offer to buy the securities in any jurisdiction. The Class A Shares issued
have not been and will not be registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold in the United States, or to
a U.S. person, absent registration, or an applicable exemption therefrom.


Reader Advisories

Forward-Looking Statements: This news release contains certain forward-looking
statements, within the meaning of applicable securities laws. In particular, but
without limiting the foregoing, this news release contains forward-looking
statements pertaining to the announced equity financings, including: i) the
anticipated closing of the second tranche of the private placement; ii) the
intended use of the net proceeds of the Offering; iii) the closing of the
Offering; and iv) the ability of the Company to obtain the necessary regulatory
approvals, including the approval of the TSX Venture Exchange and receipt for
the final prospectus. Such forward-looking statements involve substantial known
and unknown risks and uncertainties, certain of which are beyond the Company'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. 

The Company'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 the Company
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 the Company'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 the Company 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 the Company 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.