Crown Point Resumes Drilling Ops in Golfo San Jorge Basin

Crown Point advised that drilling and production operations have resumed at El Valle in the Golfo San Jorge Basin. The labor dispute which forced the Santa Cruz basin wide shut down has been resolved and normal operations in the basin are resuming. Crown Points drilling operation has resumed and today is recommencing production operations.

Crown Point's first well of a 6 well program has been drilled to total depth and is waiting to be logged. Once logging has been completed Crown Point expects to case the well as a potential oil well. The five remaining wells will be drilled sequentially.