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Crown Point Ventures Ltd., (the “Company”), is pleased to announce the following progress on
our Sinclair Field in Manitoba. We now can announce, as scheduled, that the 2006 year starts
with six wells producing at Sinclair.
Well 6-15-8-29 W1 has been drilled, completed and commenced production December 23, 2005.
Well 4-15-8-29 W1 has been drilled, completed and commenced production December 28, 2005.
Well 5-15-8-29 W1 has been drilled, completed and is scheduled to start production this week.
Proven wells 11-15-8-29 W1 and 12-15-8-29 W1 have been cash called. Cash on hand exceeds
this need.
The sale of “Manitoba drilling incentive credits” to Interwest Enterprises Ltd., at fair market
value, has reduced the Company’s outstanding loan by $73,125 to
Interwest.
As scheduled, the last two of the eight wells at the west half Section of 15-8-29 W1 will be
drilled by month end. This leaves sixteen locations in section 3-9-29 to be drilled after break-up
in the spring.
Production volumes will be conveyed when available.
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