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Crown Point Ventures Ltd., “the Company”, is pleased to announce that the fourth of the eight
well program in the North Sinclair field of Manitoba flushed at 51 barrels of oil per day, 21.5 net
to the Company. The Company has also been cash called for the fifth and sixth wells, scheduled
to commence drilling in the second week of December. The Company will pay 70% of the total
costs to earn a 65% working interest before payout and a 42% working interest after payout on
the fifth well. The sixth well is umpromoted with a working interest of 42% before and after
payout. The seventh and eighth wells are scheduled for drilling in January 2007.
The Company would also like to announce that the 12-21-9-29 W1 well in the Daly field in
Manitoba has been drilled to target depth, cased and awaits completion next week. The Company
paid 10% of total costs to earn a 9% working interest before payout and a 6% working interest
after payout.
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