Crown Point Cases 5th Consecutive Argentina Oil Well

- Crown Point Cases 5th Consecutive Argentina Oil Well

Tuesday, August 23, 2011
Crown Point Ventures Ltd.

Crown Point Ventures has drilled and cased the fifth well of the current drilling program as a potential multi zone oil well. The Company also reports a successful work over of EV 19 which is one of the first wells drilled by Crown Point in Argentina.

Drilling Update

EV 27

Crown Point announced that the EV 27 well, the fifth well of the 2011 drilling program, has been logged and cased as a potential multi zone oil well. Logs and samples taken while drilling indicate a total of 23 net meters of potential pay in the Canadon Seco and the Mina el Carmen Formations. Later this week, the completion rig will be moving to the EV 27 location to commence its completion program.

The drilling rig is now moving to a new location EV 30. This will be the first well drilled by Crown Point on the northern side of the El Valle field. The primary target of this well is the historically prolific Caleta Olivia zone.

Completion Update

EV 19

Crown Point re-completed a 3 meter thick zone in the Caleta Olivia in the EV 19 which was originally drilled in 2009. After the re-completion of the EV 19 Caleta Olivia zone it swab tested oil with an oil cut of 70% giving an extrapolated oil production rate of 190 bbls. of oil per day ("BOPD"). Prior to the work over, the well was producing a trace of oil from the Canadon Seco with a 99 per cent water cut.

Drilling Plans 2011-2012

This drilling program is part of a larger 20-25 well program to be conducted at El Valle over the next 24 months. Crown Point is planning to drill two to four more wells at El Valle prior to year end. At Canadon Ramirez the Company plans to drill 2-5 wells on its 100% interest exploitation concession over the next 12 months and one 50% interest well at Laguna de Piedra in the first or second quarter of 2012. At Cerro Los Leones Crown Point anticipates receiving the required environmental permits in the near term and plans to commence the shooting of the 3-D and 2-D programs shortly after receiving these permits. The completion and interpretation of the seismic program is expected to be followed by a 2-5 well 50% interest program in 2012.

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Crown Point Flows Oil at Argentina Well

- Crown Point Flows Oil at Argentina Well

Thursday, August 11, 2011
Crown Point Ventures Ltd.

Crown Point has successfully completed EV 31 which is the fourth well of the 2011 drilling as a successful flowing oil well. To date this year, the Company has drilled, cased and completed four wells as successful oil wells at the El Valle field in the San Jorge Basin in Southern Argentina. Since commencing drilling operations at El Valle, the Company has drilled and completed ten wells with a 100% drilling and completion success rate.

The completion rig will be moving later this week to commence a work over operation on an EV 19 which was one of the first wells drilled by Crown Point at El Valle. Once that work over has been completed we expect to start completion operations on EV 27 which is currently drilling and is the fifth well of the current drilling program.

Completion Update: EV 31

Crown Point successfully completed a 4.0 meter thick section of the Canadon Seco formation in the EV 31 wellbore. This zone was perforated and fracture stimulated. The well during its evaluation period flowed oil through a 20 mm choke at a 24 hour extrapolated rate of 370 barrels per day of 100% oil.

Due to the excellent production test results obtained from the currently completed 4.0 meter Canadon Seco zone in EV 31, the Company has indefinitely deferred the completion of two additional highly prospective zones in the Canadon Seco.

Drilling Plans 2011-2012

This drilling program is part of a larger 20-25 well program to be conducted at El Valle over the next 24 months. Crown Point is planning to drill two to four more wells at El Valle prior to year end. At Canadon Ramirez the Company plans to drill 2-5 wells on its 100% interest exploitation concession over the next 12 months and one 50% interest well at Laguna de Piedra in the first or second quarter of 2012. At Cerro Los Leones Crown Point anticipates receiving the required environmental permits in the near term and plans to commence the shooting of the 3-D and 2-D programs shortly after receiving these permits. The completion and interpretation of the seismic program is expected to be followed by a 2-5 well 50% interest program in 2012.

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Crown Point Logs Potential Zone at Argentina Well

- Crown Point Logs Potential Zone at Argentina Well

Monday, May 30, 2011
Crown Point Ventures Ltd.

Crown Point has logged the EV-25 well bore and has cased it as a potential multiple zone oil well. This well is the second of a six well drilling program at El Valle in the San Jorge Basin in Argentina. Logs and samples taken while drilling indicate the presence of four principal zones in the Canadon Seco and Caleta Olivia formations with a combined potential pay thickness of 16.5 meters having an average porosity of 22%.

El Valle has three distinct productive sedimentary formations, which, in order of surface to deepest, are the Canadon Seco, Caleta Olivia and Mina el Carmen. Each of these formations may contain multiple discrete hydrocarbon bearing zones. Typically, the Canadon Seco formation produces medium grade oil (API gravity that ranges from 16-22 degrees), while the Caleta Olivia and Mina el Carmen produce light oil (API gravity of approx. 30 degrees).

The drilling rig is now moving to the location of the third well EV-29 - this well has principal geological targets located in the Caleta Olivia, with secondary targets in the Canadon Seco.

This drilling program is part of a larger 20-25 well program to be conducted at El Valle over the next 24 months, the Company plans to drill 2-5 wells 100% interest wells on the Canadon Ramirez exploitation concession in the Province of Chubut over the next 12 months and one 50% interest well at Laguna de Piedra in the first quarter of 2012. At Cerro Los Leones we anticipate receiving the required environmental permits in the near term and expect to commence the shooting of the 3-D and 2-D seismic programs shortly after receiving the environmental permit.

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Crown Point Resumes Drilling Ops in Golfo San Jorge Basin

Crown Point Resumes Drilling Ops in Golfo San Jorge Basin

Tuesday, April 19, 2011
Crown Point Ventures Ltd.

Crown Point advised that drilling and production operations have resumed at El Valle in the Golfo San Jorge Basin. The labor dispute which forced the Santa Cruz basin wide shut down has been resolved and normal operations in the basin are resuming. Crown Points drilling operation has resumed and today is recommencing production operations.

Crown Point's first well of a 6 well program has been drilled to total depth and is waiting to be logged. Once logging has been completed Crown Point expects to case the well as a potential oil well. The five remaining wells will be drilled sequentially.