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Crown Point Announces Reserve Gains, Releases Summary of Independent Reserve Evaluation Report

Crown Point Energy Inc. (CWV.V) reports that it has achieved significant growth in its corporate reserve volumes and values as of August 31, 2012.

The Company's gross total proved oil and liquid reserves increased to 1,674 thousand barrels (Mbbls) as of August 31, 2012, a 166% increase over 630 Mbbls as of August 31, 2011. The Company's gross total proved natural gas reserves were 16,479 million cubic feet (MMcf) as at August 31, 2012. Crown Point did not have any natural gas reserves as of August 31, 2011.

The Company's gross total proved plus probable oil and liquids reserves increased to 3,192 Mbbls as of August 31, 2012, an 86% increase over 1,716 Mbbls as of August 31, 2011. The Company's gross total proved plus probable natural gas reserves were 27,709 MMcf as of August 31, 2012.

The Company's gross total proved plus probable plus possible oil and liquids reserves increased to 4,201 Mbbls as of August 31, 2012, a 61% increase from 2,611 Mbbls as of August 31, 2011. The Company's gross total proved plus probable plus possible natural gas reserves were 32,464 MMcf as of August 31, 2012.

Crown Point is now trading at 38 cents.

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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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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