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Crown Point Ventures Ltd. (“The Company”) announces that the Calandria Mora X-1
test well in Argentina has reached total depth of 1,906 meters. As of the results of
electronic logs, pressure tests and geologic analysis, the Company has plugged and
abandoned the well. The Company will meet with its partner, YPF S.A., to discuss future
exploration on the block.
The Company’s 2009 drill program will continue with a 12.5% working interest
participation of a developmental Bakken well this March in Manitoba.
The Company is awaiting environmental clearance and drilling licenses to drill three
developmental wells on the El Valle Block in Argentina. The Company expects to
receive the licenses in time to commence drilling in late April to early May.
About Crown Point
Crown Point Ventures is a junior oil and gas exploration and production company with
properties in Canada and Argentina. The Company is focused on acquiring working
interests in a diversified portfolio of oil and gas assets that provide a high probability of
long term growth.
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