Sales of oil and natural gas during the year ended December 31, 2014 were 515,333 BOE, comprised of 105,000 bbls of oil and liquids and 2.462 Bcf of natural gas.

Reserve volumes and net present values of Crown Point's reserves were impacted by several factors including the sale of its 50% interest in the El Valle Exploitation Concession ("El Valle"): Crown Point's independent reserves report dated effective December 31, 2013 assigned El Valle gross proved developed producing reserves of 90.2 MBOE; total gross proved reserves of 289.8 MBOE; and total gross proved plus probable reserves of 777.2 MBOE. Extensions and improved recovery, positive technical revisions and discoveries more than offset production, resulting in a 39% increase in total gross proved reserves at December 31, 2014 compared to as at December 31, 2013 . Overall, total proved and probable reserves increased 290 MBOE, or 5%, at December 31, 2014 compared to as at December 31, 2013 . Net present values were impacted by increased pricing and inflation rate assumptions for all product types.

Further details of the evaluation of the Company's reserves as at December 31, 2014 will be contained in the Company's NI 51-101 filings for the year ended December 31, 2014 which will be filed with Canadian securities regulatory authorities and will be made available under the Company's profile at www.sedar.com and on the Company's website at www.crownpointenergy.com

About Crown Point

Crown Point Energy Inc. is an international oil and gas exploration and development company headquartered in Calgary, Canada , incorporated in Canada , trading on the TSX Venture Exchange and operating in South America . Crown Point's exploration and development activities are focused in the Golfo San Jorge, Neuquén and Austral basins in Argentina . Crown Point has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a basis for future growth.

Advisory

Certain Oil and Gas Disclosures: Barrels of oil equivalent (BOE) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet (6 Mcf) to one barrel (1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of crude oil in Argentina as compared to the current price of natural gas in Argentina is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. "MBOE" means thousands of barrels of oil equivalent.  "BOEPD" means barrels of oil equivalent per day.  "Mcf" means thousand cubic feet.  "Mmcf" means million cubic feet.  "Bcf means billion cubic feet.  "Mbbls" means thousands of barrels.

Non-IFRS Measures: This press release discloses "funds flow from operations" which does not have standardized meanings under International Financial Reporting Standards ("IFRS") and as such may not be comparable with the calculation of similar measures used by other entities. Funds flow from operations should not be considered an alternative to or more meaningful than, cash flow from operating activities as determined in accordance with IFRS as an indicator of the Company's performance. Management uses funds flow from operations to analyze operating performance and considers funds flow from operations to be a key measure as it demonstrates the Company's ability to generate cash necessary to fund future capital investment. A reconciliation of funds flow from operations to cash flow from operating activities is presented in the MD&A under "Non-IFRS Measures".

Forward looking information: Certain information set forth in this document, including: timing and details with respect to the Company's ongoing 8 well drilling program at TDF; timing for additional work on its LF-1028 well; preliminary assessments of the results of certain of the Company's drilling operations; matters with respect to the extension of the Cerro de Los Leones Permit, the terms of the Agreement with the province of Mendoza and the expected timing for receipt of ministerial approval of the same; expectations with respect to the new gas incentive program; various statements under the heading "Outlook", including anticipated work at the Company's LF-1028 well, fracture operations at TDF, possible future operations and work at its Rio Cullen or Angostura concessions and possible re-entry operations of certain wells at Cerro de Leones concession; the Company's anticipated capital expenditures for 2015, including the source of funds to finance such expenditures; and the acreage to be relinquished at Cerro de Los Leones and the other terms relating to the extension of such permit to become effective on May 22, 2015 is considered forward-looking information, and necessarily involve risks and uncertainties, certain of which are beyond Crown Point's control. In addition, information relating to reserves is deemed to be forward-looking information, as it involves the implied assessment, based on certain estimates and assumptions, that the reserves described can be economically produced in the future. Such risks include but are not limited to: risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; risks associated with ministerial approval of the Agreement (including with respect to the timing of such approval and the terms thereof); risks associated with operating in Argentina , including risks of changing government regulations (including the adoption of, amendments to, or the cancellation of government incentive programs or other laws and regulations relating to commodity prices, taxation, currency controls and export restrictions, in each case that may adversely impact Crown Point), expropriation/nationalization of assets, price controls on commodity prices, inability to enforce contracts in certain circumstances, the potential for a sovereign debt default or a hyperinflationary economic environment, and other economic and political risks; loss of markets and other economic and industry conditions; volatility of commodity prices; currency fluctuations; imprecision of reserve estimates; environmental risks; competition from other producers; inability to retain drilling services; incorrect assessment of value of acquisitions and failure to realize the benefits therefrom; delays resulting from or inability to obtain required regulatory approvals; the lack of availability of qualified personnel or management; stock market volatility and ability to access sufficient capital from internal and external sources; and economic or industry condition changes. Actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Crown Point will derive therefrom. In addition, the information relating to reserves is deemed to be forward-looking information, as such information involves the implied assessment, based on certain estimates and assumptions that the reserves described can be economically produced in the future.  With respect to forward-looking information contained herein, the Company has made assumptions regarding: the impact of increasing competition; the general stability of the economic and political environment in Argentina ; the timely receipt of any required regulatory approvals (including with respect to the Agreement and the timing thereof); the ability of the Company to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the costs of obtaining equipment and personnel to complete the Company's capital expenditure program; the ability of the operator of the projects which the Company has an interest in to operate the field in a safe, efficient and effective manner; the ability of the Company to obtain financing on acceptable terms when and if needed; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration activities; the timing and costs of pipeline, storage and facility construction and expansion and the ability of the Company to secure adequate product transportation; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, commodity price controls, import/export matters, taxes and environmental matters in Argentina ; and the ability of the Company to successfully market its oil and natural gas products.  Additional information on these and other factors that could affect Crown Point are included in reports on file with Canadian securities regulatory authorities, including under the heading "Risk Factors" in the Company's annual information form, and may be accessed through the SEDAR website (www.sedar.com). Furthermore, the forward-looking information contained in this document are made as of the date of this document, and Crown Point does not undertake any obligation to update publicly or to revise any of the included forward looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities law. 

Analogous Information:  Certain information contained herein is considered "analogous information" as defined in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Such analogous information has not been prepared in accordance with NI 51-101 and the Canadian Oil and Gas Evaluation Handbook and Crown Point is unable to confirm whether such estimates have been prepared by a qualified reserves evaluator. In particular, this news release describes the prospective Cerro de Los Leones concession as being surrounded by several large conventional oil pools. Such information is not intended to represent projections of future results. Such information has been presented to show the presence of oil and gas resources in areas analogous to Crown Point's areas of interest. Such information is based on independent public data and public information received from other producers and Crown Point has no way of verifying the accuracy of such information and cannot determine whether the source of the information is independent. Such information has been presented to help demonstrate the basis for Crown Point's business plans and strategies. There is no certainty that such results will be achieved by Crown Point and such information should not be construed as an estimate of future reserves or resources or future production levels.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Crown Point Energy Inc.