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Crow Point Climbs 12% As Reserves Increase Significantly

Crow Point Ventures Ltd. (CWV.V), which started the session higher at 86 cents, is now enjoying sharp gains at 95 cents, jumping almost 12% from yesterday's 85 cents close, after announcing that it has achieved significant growth in its corporate reserve volumes and values as of August 31, 2011.

The company's gross total proved reserves increased to 630 thousand barrels of oil as at August 31, 2011, a 56% increase from 403 Mbbls of oil as of September 30, 2010. Over the same period gross total proved plus probable reserves increased to 1,716 Mbbls of oil as at August 31, 2011, a 111% increase from 812 Mbbls of oil as of September 30, 2010, and gross proved plus probable plus possible reserves increased to 2,611 Mbbls of oil as at August 31, 2011, a 170% increase from 965 Mbbls of oil as of September 30, 2010.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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