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Crown Point Ventures Ltd., (the “Company”) is pleased to announce the start of the summer drill
program in Manitoba. The operator has cash called the Company and scheduled the spudding of
the first of eight wells for Sunday, July 23rd.
The Company will pay 70% of the drilling and completion costs of the 1st well to earn a 65%
working interest before payout and a 42% working interest after payout. With each promoted
well, the Company also earns an unpromoted well with a 42% working interest. The Company
presently has an interest in 18 wells in Manitoba ranging from 6% to 65% working interest with
a net daily production of 155 Barrels of oil per day. The Company plans to pay for the drilling
program from cash flow.
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