{"success":true,"data":{"pressRelease":{"id":"116151","rtpr_id":"nGNXbfDGhb","ticker":"CWV","exchange":"","all_tickers":["CWV"],"title":"Crown Point Announces Operating and Financial Results for the Three and Six Months Ended June 30, 2026 ","author":"Globe Newswire","published_at":"2026-08-11T23:18:06.069Z","article_body":"CALGARY, Alberta, Aug. 11, 2026 (GLOBE NEWSWIRE) -- TSX-V: CWV: Crown Point\nEnergy Inc. (“Crown Point”, the “Company”, \"our\" or \"we\") today\nannounced its financial and operating results for the three and six months\nended June 30, 2026. All dollar figures are expressed in United States dollars\n(\"USD\") unless otherwise stated.\n\nIn the following discussion, the three months ended June 30, 2026 may be\nreferred to as “Q2 2026”. The comparative three months ended June 30,\n2025, may be referred to as “Q2 2025”.\n\nQ2 2026 SUMMARY\n\nDuring Q2 2026, the Company:\n* Reported net cash and funds flow provided by operating activities of $22.5\nmillion and $17.4 million, respectively, as compared to Q2 2025 when the\nCompany reported net cash provided by operating activities and funds flow used\nin operating activities of $5.6 million and $5.0 million, respectively;\n* Earned $69.2 million of oil and natural gas sales revenue on total average\ndaily sales volumes of 9,158 BOE per day(1), higher than $22.2 million of oil\nand natural gas sales revenue on total average daily sales volumes of 4,083\nBOE per day(2) in Q2 2025 due to oil sales from the Chubut concessions\nacquired in the fourth quarter of 2025;\n* Received an average of $4.99 per mcf for natural gas and $90.24 per bbl for\ncrude oil compared to $3.45 per mcf for natural gas and $67.26 per bbl for oil\nreceived in Q2 2025;\n* Reported an operating netback of $25.75 per BOE (3) up from $(7.50) per BOE\nin Q2 2025;\n* Issued $17.6 million of discounted promissory notes and repaid $32.4 million\nof working capital loans and discounted promissory notes;\n* Reported income before taxes of $9.3 million, deferred tax provision of $0.1\nmillion and net income of $9.2 million, as compared to Q2 2025 when the\nCompany reported loss before taxes of $9.1 million, deferred tax recovery of\n$3.4 million and net loss of $5.7 million;\n* Reported a working capital deficit(4) of $63.4 million at June 30, 2026, as\ncompared to a working capital deficit of $71.8 million at December 31, 2025.\nSUBSEQUENT EVENTS\n\nOn July 16, 2026, the Company completed a rights offering pursuant to which\nthe Company issued 240,000,000 common shares at a price of $0.125 per share\nfor gross proceeds of $30 million (the \"Rights Offering\"), of which\n238,289,708 common shares were acquired by Liminar Energia S.A. (\"Liminar\").\nFollowing the closing of the Rights Offering, the Company has 312,903,038\ncommon shares issued and outstanding, of which 284,876,536 (approximately 91%)\nare owned by Liminar.\n\nOn July 16, 2026, the Company repaid the $29.9 million loan plus $0.1 million\naccrued interest owed to Liminar using the proceeds of the Rights Offering.\n\nSubsequent to June 30, 2026, the Company repaid $11.6 million and issued $13.2\nmillion of discounted promissory notes.\n\nOn July 30, 2026, the Company paid a consent fee equal to 1% of the principal\namount of the Series IX Notes Payable, in the amount of $0.3 million, in\nconnection with obtaining the noteholders' consent to permit the Company to\nuse the excess collateral represented by the pledge over crude oil sales\ncollections from the Chubut Concessions to secure future issuances of Notes\nPayable up to an aggregate principal amount of $100 million.\n\nOPERATIONAL UPDATE\n\nChubut Concessions\n* During Q2 2026, El Tordillo concession oil production averaged 4,213 (net\n4,003) bbls of oil per day, La Tapera concession oil production averaged 28\n(net 27) bbls of oil per day and Puesto Quiroga concession oil production\naveraged 155 (net 147) bbls of oil per day. Natural gas production from the El\nTordillo and Puesto Quiroga concessions averaged 3,250 (net 3,087) mcf per\nday. During Q2 2026, the Company performed workovers on eight oil producing\nwells in the Tordillo concession.\nSanta Cruz Concessions\n* During Q2 2026, Piedra Clavada concession oil production averaged 1,675 bbls\nof oil per day and Koluel Kaike concession oil production averaged 891 bbls of\noil per day. During Q2 2026, the Company completed several interventions on\noil wells in both the Koluel Kaike and Piedra Clavada concessions.\nMendoza Concessions\n* Oil production for Q2 2026 averaged 728 (net 364) bbls of oil per day from\nthe CH Concession and 162 (net 81) bbls of oil per day from the PPCO\nConcession.\nTDF Concessions\n* During Q2 2026, San Martin oil production averaged 432 (net 209) bbls of oil\nper day; Las Violetas concession natural gas production averaged 7,664 (net\n3,704) mcf per day and associated oil production averaged 166 (net 80) bbls of\noil per day.\n* Las Violetas and Rio Cullen Concessions expire on August 17, 2026, and the\nAngostura concession expires on August 16, 2026. The Company is currently\nnegotiating with the Province of Tierra del Fuego to determine the terms of\nthe concession extensions.\nCLL Permit\n* On May 18, 2026, the Ministry of Energy and Environment of the Province of\nMendoza issued Resolution No. 86/2026, which granted the Company a one-year\nextension of the term of the CLL Permit until May 18, 2027.\nOUTLOOK\n* The Company’s capital spending for fiscal 2026 is budgeted at\napproximately $54.3 million, of which: $37.8 million is allocated to the\nChubut Concessions for well workovers, facilities improvements and a drilling\ncampaign comprised of 5 wells; $13.7 million is allocated to the Santa Cruz\nConcessions for well workovers, facilities improvements and a drilling\ncampaign comprised of 3 wells; $0.8 million is allocated to the Mendoza\nConcessions for well workovers and facilities improvements; $1.2 million is\nallocated to the TDF Concessions for the concessions extension fee; and $0.8\nmillion is allocated to the Cerro de Los Leones Concession for testing of the\ngas bearing sandstone layers of the Neuquén Group. During the six months\nended June 2026, the Company incurred $9.7 million of capital expenditures in\nthe Chubut and Santa Cruz Concessions.\nSUMMARY OF FINANCIAL INFORMATION\n\n (expressed in $, except shares outstanding)  June 30 2026           December 31 2025         \n Current assets                               52,563,086             50,655,402               \n Current liabilities                          (115,920,225  )        (122,470,728  )          \n Working capital deficiency ((1))             (63,357,139   )        (71,815,326   )          \n Exploration and evaluation assets            13,995,603             14,018,547               \n Property and equipment                       224,069,488            226,293,865              \n Total assets                                 292,472,177            293,165,032              \n Non-current financial liabilities ((1))      73,625,852             73,009,452               \n Share capital                                56,456,328             56,456,328               \n Total common shares outstanding              72,903,038             72,903,038               \n\n\n\n (1)  We adhere to International Financial Reporting Standards (“ IFRS ”), however the Company also employs certain non-IFRS measures to analyze financial performance, financial position, and cash flow. Additionally, other financial measures are also used to    \n      analyze performance. These non-IFRS and other financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures provided by other issuers. “Working capital deficiency” is a capital management \n      measure. “Non-current financial liabilities” is a supplemental financial measure. See \"Non-IFRS and Other Financial Measures\".                                                                                                                                  \n                                                                                                                                                                                                                                                                      \n\nRESULTS OF OPERATIONS\n\nSales Volumes\n\n                            Three months ended      Six months ended      \n                            June 30                 June 30               \n                            2026        2025        2026       2025       \n Total sales volumes (BOE)  833,333     371,484     1,541,991  756,738    \n Oil bbls per day           8,065       3,422       7,356      3,511      \n NGL bbls per day           4           16          4          12         \n Natural gas mcf per day    6,532       3,867       6,958      3,947      \n Total BOE per day          9,158       4,083       8,520      4,181      \n\nOperating Netback ((1) )\n\n                                        Three months ended                                              Six months ended                                                \n                                        June 30                                                         June 30                                                         \n                                        2026                            2025                            2026                            2025                            \n                                        Per BOE                         Per BOE                         Per BOE                         Per BOE                         \n Oil and natural gas sales revenue ($)  69,206,301          83.05       22,208,934          59.78       113,687,522         73.73       45,717,428          60.41       \n Export tax ($)                         (106,195        )   (0.13   )   (101,251        )   (0.27   )   (181,041        )   (0.12   )   (193,755        )   (0.26   )   \n Royalties and turnover tax ($)         (12,278,455     )   (14.73  )   (3,963,657      )   (10.67  )   (20,711,653     )   (13.43  )   (8,163,142      )   (10.79  )   \n Operating costs ($)                    (35,362,950     )   (42.44  )   (20,927,925     )   (56.34  )   (62,856,704     )   (40.76  )   (39,180,510     )   (51.78  )   \n Operating netback ((1))($)             21,458,701          25.75       (2,783,899      )   (7.50   )   29,938,124          19.42       (1,819,979      )   (2.42   )   \n\n((1) ) \"Operating netback\" is a non-IFRS measure. “Operating netback per\nBOE” is a non-IFRS ratio. See \"Non-IFRS and Other Financial Measures\".\n\nThe Company’s unaudited condensed interim consolidated financial statements\nfor the three and six month periods ended June 30, 2026 and related\nmanagement’s discussion and analysis (“MD&A”) will be filed with\nCanadian securities regulatory authorities in due course and will be made\navailable under the Company’s profile at www.sedarplus.ca and on the\nCompany’s website at www.crownpointenergy.com.\n\nFor inquiries, please contact:\n\n Brian Moss                  Marcos Esteves                 \n Interim President & CEO     Vice-President, Finance & CFO  \n Ph: (403) 232-1150          Ph: (403) 232-1150             \n Crown Point Energy Inc.     Crown Point Energy Inc.        \n bmoss@crownpointenergy.com  mesteves@crownpointenergy.com  \n                                                            \n\nAbout Crown Point\nCrown Point Energy Inc. is an international oil and gas exploration and\ndevelopment company headquartered in Buenos Aires, Argentina, incorporated in\nCanada, trading on the TSX Venture Exchange and operating in Argentina. Crown\nPoint's exploration and development activities are focused in four producing\nbasins in Argentina, the Austral basin in the province of Tierra del Fuego,\nthe Golfo San Jorge Basin in the provinces of Santa Cruz and Chubut, and the\nNeuquén and Cuyo (or Cuyana) basins in the province of Mendoza.\n\nAdvisory\n\nNon-IFRS and Other Financial Measures: Throughout this press release and in\nother materials disclosed by the Company, we employ certain measures to\nanalyze financial performance, financial position, and cash flow. These\nnon-IFRS and other financial measures do not have any standardized meaning\nprescribed by IFRS and therefore may not be comparable to similar measures\nprovided by other issuers. The non-IFRS and other financial measures should\nnot be considered to be more meaningful than financial measures which are\ndetermined in accordance with IFRS, such as net income (loss), oil and natural\ngas sales revenue and net cash (used) provided by operating activities as\nindicators of our performance.\n\n“Non-current financial liabilities” is a supplemental financial measure.\nNon-current financial liabilities is comprised of the non-current portions of\ntrade and other payables, loans, notes payable and lease liabilities as\npresented in the Company’s consolidated statements of financial position.\nSee “Summary of Financial Information”.\n\n“Operating Netback” is a non-IFRS measure. Operating netback is comprised\nof oil and natural gas sales revenue less export tax, royalties and turnover\ntax and operating costs. Management believes this measure is a useful\nsupplemental measure of the Company’s profitability relative to commodity\nprices. See “Results of Operations - Operating Netback” for a\nreconciliation of operating netback to oil and natural gas sales revenue,\nbeing our nearest measure prescribed by IFRS.\n\n“Operating netback per BOE” is a non-IFRS ratio. Operating netback per BOE\nis comprised of operating netback divided by total BOE sales volumes in the\nperiod. Management believes this measure is a useful supplemental measure of\nthe Company’s profitability relative to commodity prices. In addition,\nmanagement believes that operating netback per BOE is a key industry\nperformance measure of operational efficiency and provides investors with\ninformation that is also commonly presented by other crude oil and natural gas\nproducers. Operating netback is a non-IFRS measure. See \"Results of Operations\n- Operating Netback\" for the calculation of operating netback per BOE.\n\n“Working capital” is a capital management measure. Working capital is\ncomprised of current assets less current liabilities. Management believes that\nworking capital is a useful measure to assess the Company's capital position\nand its ability to execute its existing exploration commitments and its share\nof any development programs. See “Summary of Financial Information” for a\nreconciliation of working capital to current assets and current liabilities,\nbeing our nearest measures prescribed by IFRS.\n\nAbbreviations and BOE Presentation: “bbl” means barrel; “bbls” means\nbarrels; “BOE” means barrels of oil equivalent; “mcf” means thousand\ncubic feet; “NGL” means natural gas liquids; and “UTE” means Union\nTransitoria de Empresas, which is a registered joint venture contract\nestablished under the laws of Argentina. All BOE conversions in this press\nrelease are derived by converting natural gas to oil in the ratio of six mcf\nof gas to one bbl of oil. BOE may be misleading, particularly if used in\nisolation. A BOE conversion ratio of six mcf of gas to one bbl of oil (6 mcf:\n1 bbl) is based on an energy equivalency conversion method primarily\napplicable at the burner tip and does not represent a value equivalency at the\nwellhead. Given that the value ratio based on the price of crude oil as\ncompared to natural gas in Argentina from time to time may be different from\nthe energy equivalency conversion ratio of 6:1, utilizing a conversion on a\n6:1 basis may be misleading as an indication of value.\n\nForward-looking Information: This document contains forward-looking\ninformation. This information relates to future events and the Company’s\nfuture performance. All information and statements contained herein that are\nnot clearly historical in nature constitute forward-looking information, and\nthe words \"may\", \"will\", \"should\", \"could\", \"expect\", \"plan\", \"intend\",\n\"anticipate\", \"believe\", \"estimate\", \"propose\", \"predict\", \"potential\",\n\"continue\", \"aim\", \"project\", \"outlook\" or the negative of these terms or\nother comparable terminology are generally intended to identify\nforward-looking information. Such information represents the Company’s\ninternal projections, estimates, expectations, beliefs, plans, objectives,\nassumptions, intentions or statements about future events or performance. This\ninformation involves known or unknown risks, uncertainties and other factors\nthat may cause actual results or events to differ materially from those\nanticipated in such forward-looking information. In addition, this document\nmay contain forward-looking information attributed to third party industry\nsources. Crown Point believes that the expectations reflected in this\nforward-looking information are reasonable; however, undue reliance should not\nbe placed on this forward-looking information, as there can be no assurance\nthat the plans, intentions or expectations upon which they are based will\noccur. This press release contains forward-looking information concerning,\namong other things, the following: the Company's focus, the term of the CLL\nPermit, our capital expenditure budget for fiscal 2026, the allocation of such\ncapital expenditures that we intend to make on our concessions during 2026,\nand the operations that we intend to conduct on each of our concessions during\nsuch period. The reader is cautioned that such information, although\nconsidered reasonable by the Company, may prove to be incorrect. Actual\nresults achieved during the forecast period will vary from the information\nprovided in this document as a result of numerous known and unknown risks and\nuncertainties and other factors. A number of risks and other factors could\ncause actual results to differ materially from those expressed in the\nforward-looking information contained in this document including, but not\nlimited to, the following: that the tariffs imposed or threatened to be\nimposed by the U.S. on other countries, and retaliatory tariffs imposed or\nthreatened to be imposed by other countries on the U.S., will trigger a\nbroader global trade war which could have a material adverse effect on global\neconomies, and by extension the Argentine oil and natural gas industry and the\nCompany, including by decreasing demand for (and the price of) oil and natural\ngas, disrupting supply chains, increasing costs, causing volatility in global\nfinancial markets, and limiting access to (and/or increasing the cost of)\nfinancing; that the Company is not able to meet its obligations as they become\ndue; risks associated with the insolvency and/or bankruptcy of our joint\nventure partners and/or the operators of the concessions in which we have an\ninterest, including the risk that any such insolvency and/or bankruptcy has an\nadverse effect on one of our UTEs, one of our concessions and/or the Company;\nand the risks and other factors described under “Business Risks and\nUncertainties” in our most recently filed MD&A and under “Risk Factors”\nin the Company’s most recently filed Annual Information Form, which is\navailable for viewing on SEDAR+ at www.sedarplus.ca. With respect to\nforward-looking information contained in this document, the Company has made\nassumptions regarding, among other things: the ability and willingness of\nOPEC+ nations and other major producers of crude oil to balance crude oil\nproduction levels and thereby sustain higher global crude oil prices; that our\njoint venture partners and the operators of our concessions that we do not\noperate will honour their contractual commitments in a timely fashion and will\nnot become insolvent or bankrupt; the impact of inflation rates in Argentina\nand the devaluation of the Argentine peso against the USD on the Company; the\nimpact of increasing competition; the general stability of the economic and\npolitical environment in which the Company operates, including operating under\na consistent regulatory and legal framework in Argentina; future oil, natural\ngas and NGL prices (including the effects of governmental incentive programs\nand government price controls thereon); the timely receipt of any required\nregulatory approvals; the ability of the Company to obtain qualified staff,\nequipment and services in a timely and cost efficient manner; drilling\nresults; the costs of obtaining equipment and personnel to complete the\nCompany’s capital expenditure program; the ability to operate the projects\nin which the Company has an interest in a safe, efficient and effective\nmanner; that the Company will not pay dividends for the foreseeable future;\nthe ability of the Company to obtain financing on acceptable terms when and if\nneeded; the ability of the Company to service its debt repayments when\nrequired; field production rates and decline rates; the ability to replace and\nexpand oil and natural gas reserves through acquisition, development and\nexploration activities; the timing and costs of pipeline, storage and facility\nconstruction and expansion and the ability of the Company to secure adequate\nproduct transportation; currency, exchange, inflation and interest rates; the\nregulatory framework regarding royalties, taxes and environmental matters in\nArgentina; and the ability of the Company to successfully market its oil and\nnatural gas products. Management of Crown Point has included the above summary\nof assumptions and risks related to forward-looking information included in\nthis document in order to provide investors with a more complete perspective\non the Company’s future operations. Readers are cautioned that this\ninformation may not be appropriate for other purposes. Readers are cautioned\nthat the foregoing lists of factors are not exhaustive. The forward-looking\ninformation contained in this document are expressly qualified by this\ncautionary statement. The forward-looking information contained herein is made\nas of the date of this document and the Company disclaims any intent or\nobligation to update publicly any such forward-looking information, whether as\na result of new information, future events or results or otherwise, other than\nas required by applicable Canadian securities laws.\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this news release.\n\n____________________________\n(1) See \"Results of Operations – Sales Volumes\".\n(2) See \"Results of Operations – Sales Volumes\".\n(3) Non-IFRS ratio. See \"Non-IFRS and Other Financial Measures\".\n(4) Capital management measure. See \"Non-IFRS and Other Financial Measures\".\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/cae2ebbf-f91e-491c-9e57-c48e6f61ea6b)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXbfDGhb","title":"Crown Point Announces Operating and Financial Results for the Three and Six Months Ended June 30, 2026 ","author":"Globe Newswire","ticker":"CWV","created":"2026-08-11T23:18:06.069Z","tickers":["CWV"],"exchange":"","article_body":"CALGARY, Alberta, Aug. 11, 2026 (GLOBE NEWSWIRE) -- TSX-V: CWV: Crown Point\nEnergy Inc. (“Crown Point”, the “Company”, \"our\" or \"we\") today\nannounced its financial and operating results for the three and six months\nended June 30, 2026. All dollar figures are expressed in United States dollars\n(\"USD\") unless otherwise stated.\n\nIn the following discussion, the three months ended June 30, 2026 may be\nreferred to as “Q2 2026”. The comparative three months ended June 30,\n2025, may be referred to as “Q2 2025”.\n\nQ2 2026 SUMMARY\n\nDuring Q2 2026, the Company:\n* Reported net cash and funds flow provided by operating activities of $22.5\nmillion and $17.4 million, respectively, as compared to Q2 2025 when the\nCompany reported net cash provided by operating activities and funds flow used\nin operating activities of $5.6 million and $5.0 million, respectively;\n* Earned $69.2 million of oil and natural gas sales revenue on total average\ndaily sales volumes of 9,158 BOE per day(1), higher than $22.2 million of oil\nand natural gas sales revenue on total average daily sales volumes of 4,083\nBOE per day(2) in Q2 2025 due to oil sales from the Chubut concessions\nacquired in the fourth quarter of 2025;\n* Received an average of $4.99 per mcf for natural gas and $90.24 per bbl for\ncrude oil compared to $3.45 per mcf for natural gas and $67.26 per bbl for oil\nreceived in Q2 2025;\n* Reported an operating netback of $25.75 per BOE (3) up from $(7.50) per BOE\nin Q2 2025;\n* Issued $17.6 million of discounted promissory notes and repaid $32.4 million\nof working capital loans and discounted promissory notes;\n* Reported income before taxes of $9.3 million, deferred tax provision of $0.1\nmillion and net income of $9.2 million, as compared to Q2 2025 when the\nCompany reported loss before taxes of $9.1 million, deferred tax recovery of\n$3.4 million and net loss of $5.7 million;\n* Reported a working capital deficit(4) of $63.4 million at June 30, 2026, as\ncompared to a working capital deficit of $71.8 million at December 31, 2025.\nSUBSEQUENT EVENTS\n\nOn July 16, 2026, the Company completed a rights offering pursuant to which\nthe Company issued 240,000,000 common shares at a price of $0.125 per share\nfor gross proceeds of $30 million (the \"Rights Offering\"), of which\n238,289,708 common shares were acquired by Liminar Energia S.A. (\"Liminar\").\nFollowing the closing of the Rights Offering, the Company has 312,903,038\ncommon shares issued and outstanding, of which 284,876,536 (approximately 91%)\nare owned by Liminar.\n\nOn July 16, 2026, the Company repaid the $29.9 million loan plus $0.1 million\naccrued interest owed to Liminar using the proceeds of the Rights Offering.\n\nSubsequent to June 30, 2026, the Company repaid $11.6 million and issued $13.2\nmillion of discounted promissory notes.\n\nOn July 30, 2026, the Company paid a consent fee equal to 1% of the principal\namount of the Series IX Notes Payable, in the amount of $0.3 million, in\nconnection with obtaining the noteholders' consent to permit the Company to\nuse the excess collateral represented by the pledge over crude oil sales\ncollections from the Chubut Concessions to secure future issuances of Notes\nPayable up to an aggregate principal amount of $100 million.\n\nOPERATIONAL UPDATE\n\nChubut Concessions\n* During Q2 2026, El Tordillo concession oil production averaged 4,213 (net\n4,003) bbls of oil per day, La Tapera concession oil production averaged 28\n(net 27) bbls of oil per day and Puesto Quiroga concession oil production\naveraged 155 (net 147) bbls of oil per day. Natural gas production from the El\nTordillo and Puesto Quiroga concessions averaged 3,250 (net 3,087) mcf per\nday. During Q2 2026, the Company performed workovers on eight oil producing\nwells in the Tordillo concession.\nSanta Cruz Concessions\n* During Q2 2026, Piedra Clavada concession oil production averaged 1,675 bbls\nof oil per day and Koluel Kaike concession oil production averaged 891 bbls of\noil per day. During Q2 2026, the Company completed several interventions on\noil wells in both the Koluel Kaike and Piedra Clavada concessions.\nMendoza Concessions\n* Oil production for Q2 2026 averaged 728 (net 364) bbls of oil per day from\nthe CH Concession and 162 (net 81) bbls of oil per day from the PPCO\nConcession.\nTDF Concessions\n* During Q2 2026, San Martin oil production averaged 432 (net 209) bbls of oil\nper day; Las Violetas concession natural gas production averaged 7,664 (net\n3,704) mcf per day and associated oil production averaged 166 (net 80) bbls of\noil per day.\n* Las Violetas and Rio Cullen Concessions expire on August 17, 2026, and the\nAngostura concession expires on August 16, 2026. The Company is currently\nnegotiating with the Province of Tierra del Fuego to determine the terms of\nthe concession extensions.\nCLL Permit\n* On May 18, 2026, the Ministry of Energy and Environment of the Province of\nMendoza issued Resolution No. 86/2026, which granted the Company a one-year\nextension of the term of the CLL Permit until May 18, 2027.\nOUTLOOK\n* The Company’s capital spending for fiscal 2026 is budgeted at\napproximately $54.3 million, of which: $37.8 million is allocated to the\nChubut Concessions for well workovers, facilities improvements and a drilling\ncampaign comprised of 5 wells; $13.7 million is allocated to the Santa Cruz\nConcessions for well workovers, facilities improvements and a drilling\ncampaign comprised of 3 wells; $0.8 million is allocated to the Mendoza\nConcessions for well workovers and facilities improvements; $1.2 million is\nallocated to the TDF Concessions for the concessions extension fee; and $0.8\nmillion is allocated to the Cerro de Los Leones Concession for testing of the\ngas bearing sandstone layers of the Neuquén Group. During the six months\nended June 2026, the Company incurred $9.7 million of capital expenditures in\nthe Chubut and Santa Cruz Concessions.\nSUMMARY OF FINANCIAL INFORMATION\n\n (expressed in $, except shares outstanding)  June 30 2026           December 31 2025         \n Current assets                               52,563,086             50,655,402               \n Current liabilities                          (115,920,225  )        (122,470,728  )          \n Working capital deficiency ((1))             (63,357,139   )        (71,815,326   )          \n Exploration and evaluation assets            13,995,603             14,018,547               \n Property and equipment                       224,069,488            226,293,865              \n Total assets                                 292,472,177            293,165,032              \n Non-current financial liabilities ((1))      73,625,852             73,009,452               \n Share capital                                56,456,328             56,456,328               \n Total common shares outstanding              72,903,038             72,903,038               \n\n\n\n (1)  We adhere to International Financial Reporting Standards (“ IFRS ”), however the Company also employs certain non-IFRS measures to analyze financial performance, financial position, and cash flow. Additionally, other financial measures are also used to    \n      analyze performance. These non-IFRS and other financial measures do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures provided by other issuers. “Working capital deficiency” is a capital management \n      measure. “Non-current financial liabilities” is a supplemental financial measure. See \"Non-IFRS and Other Financial Measures\".                                                                                                                                  \n                                                                                                                                                                                                                                                                      \n\nRESULTS OF OPERATIONS\n\nSales Volumes\n\n                            Three months ended      Six months ended      \n                            June 30                 June 30               \n                            2026        2025        2026       2025       \n Total sales volumes (BOE)  833,333     371,484     1,541,991  756,738    \n Oil bbls per day           8,065       3,422       7,356      3,511      \n NGL bbls per day           4           16          4          12         \n Natural gas mcf per day    6,532       3,867       6,958      3,947      \n Total BOE per day          9,158       4,083       8,520      4,181      \n\nOperating Netback ((1) )\n\n                                        Three months ended                                              Six months ended                                                \n                                        June 30                                                         June 30                                                         \n                                        2026                            2025                            2026                            2025                            \n                                        Per BOE                         Per BOE                         Per BOE                         Per BOE                         \n Oil and natural gas sales revenue ($)  69,206,301          83.05       22,208,934          59.78       113,687,522         73.73       45,717,428          60.41       \n Export tax ($)                         (106,195        )   (0.13   )   (101,251        )   (0.27   )   (181,041        )   (0.12   )   (193,755        )   (0.26   )   \n Royalties and turnover tax ($)         (12,278,455     )   (14.73  )   (3,963,657      )   (10.67  )   (20,711,653     )   (13.43  )   (8,163,142      )   (10.79  )   \n Operating costs ($)                    (35,362,950     )   (42.44  )   (20,927,925     )   (56.34  )   (62,856,704     )   (40.76  )   (39,180,510     )   (51.78  )   \n Operating netback ((1))($)             21,458,701          25.75       (2,783,899      )   (7.50   )   29,938,124          19.42       (1,819,979      )   (2.42   )   \n\n((1) ) \"Operating netback\" is a non-IFRS measure. “Operating netback per\nBOE” is a non-IFRS ratio. See \"Non-IFRS and Other Financial Measures\".\n\nThe Company’s unaudited condensed interim consolidated financial statements\nfor the three and six month periods ended June 30, 2026 and related\nmanagement’s discussion and analysis (“MD&A”) will be filed with\nCanadian securities regulatory authorities in due course and will be made\navailable under the Company’s profile at www.sedarplus.ca and on the\nCompany’s website at www.crownpointenergy.com.\n\nFor inquiries, please contact:\n\n Brian Moss                  Marcos Esteves                 \n Interim President & CEO     Vice-President, Finance & CFO  \n Ph: (403) 232-1150          Ph: (403) 232-1150             \n Crown Point Energy Inc.     Crown Point Energy Inc.        \n bmoss@crownpointenergy.com  mesteves@crownpointenergy.com  \n                                                            \n\nAbout Crown Point\nCrown Point Energy Inc. is an international oil and gas exploration and\ndevelopment company headquartered in Buenos Aires, Argentina, incorporated in\nCanada, trading on the TSX Venture Exchange and operating in Argentina. Crown\nPoint's exploration and development activities are focused in four producing\nbasins in Argentina, the Austral basin in the province of Tierra del Fuego,\nthe Golfo San Jorge Basin in the provinces of Santa Cruz and Chubut, and the\nNeuquén and Cuyo (or Cuyana) basins in the province of Mendoza.\n\nAdvisory\n\nNon-IFRS and Other Financial Measures: Throughout this press release and in\nother materials disclosed by the Company, we employ certain measures to\nanalyze financial performance, financial position, and cash flow. These\nnon-IFRS and other financial measures do not have any standardized meaning\nprescribed by IFRS and therefore may not be comparable to similar measures\nprovided by other issuers. The non-IFRS and other financial measures should\nnot be considered to be more meaningful than financial measures which are\ndetermined in accordance with IFRS, such as net income (loss), oil and natural\ngas sales revenue and net cash (used) provided by operating activities as\nindicators of our performance.\n\n“Non-current financial liabilities” is a supplemental financial measure.\nNon-current financial liabilities is comprised of the non-current portions of\ntrade and other payables, loans, notes payable and lease liabilities as\npresented in the Company’s consolidated statements of financial position.\nSee “Summary of Financial Information”.\n\n“Operating Netback” is a non-IFRS measure. Operating netback is comprised\nof oil and natural gas sales revenue less export tax, royalties and turnover\ntax and operating costs. Management believes this measure is a useful\nsupplemental measure of the Company’s profitability relative to commodity\nprices. See “Results of Operations - Operating Netback” for a\nreconciliation of operating netback to oil and natural gas sales revenue,\nbeing our nearest measure prescribed by IFRS.\n\n“Operating netback per BOE” is a non-IFRS ratio. Operating netback per BOE\nis comprised of operating netback divided by total BOE sales volumes in the\nperiod. Management believes this measure is a useful supplemental measure of\nthe Company’s profitability relative to commodity prices. In addition,\nmanagement believes that operating netback per BOE is a key industry\nperformance measure of operational efficiency and provides investors with\ninformation that is also commonly presented by other crude oil and natural gas\nproducers. Operating netback is a non-IFRS measure. See \"Results of Operations\n- Operating Netback\" for the calculation of operating netback per BOE.\n\n“Working capital” is a capital management measure. Working capital is\ncomprised of current assets less current liabilities. Management believes that\nworking capital is a useful measure to assess the Company's capital position\nand its ability to execute its existing exploration commitments and its share\nof any development programs. See “Summary of Financial Information” for a\nreconciliation of working capital to current assets and current liabilities,\nbeing our nearest measures prescribed by IFRS.\n\nAbbreviations and BOE Presentation: “bbl” means barrel; “bbls” means\nbarrels; “BOE” means barrels of oil equivalent; “mcf” means thousand\ncubic feet; “NGL” means natural gas liquids; and “UTE” means Union\nTransitoria de Empresas, which is a registered joint venture contract\nestablished under the laws of Argentina. All BOE conversions in this press\nrelease are derived by converting natural gas to oil in the ratio of six mcf\nof gas to one bbl of oil. BOE may be misleading, particularly if used in\nisolation. A BOE conversion ratio of six mcf of gas to one bbl of oil (6 mcf:\n1 bbl) is based on an energy equivalency conversion method primarily\napplicable at the burner tip and does not represent a value equivalency at the\nwellhead. Given that the value ratio based on the price of crude oil as\ncompared to natural gas in Argentina from time to time may be different from\nthe energy equivalency conversion ratio of 6:1, utilizing a conversion on a\n6:1 basis may be misleading as an indication of value.\n\nForward-looking Information: This document contains forward-looking\ninformation. This information relates to future events and the Company’s\nfuture performance. All information and statements contained herein that are\nnot clearly historical in nature constitute forward-looking information, and\nthe words \"may\", \"will\", \"should\", \"could\", \"expect\", \"plan\", \"intend\",\n\"anticipate\", \"believe\", \"estimate\", \"propose\", \"predict\", \"potential\",\n\"continue\", \"aim\", \"project\", \"outlook\" or the negative of these terms or\nother comparable terminology are generally intended to identify\nforward-looking information. Such information represents the Company’s\ninternal projections, estimates, expectations, beliefs, plans, objectives,\nassumptions, intentions or statements about future events or performance. This\ninformation involves known or unknown risks, uncertainties and other factors\nthat may cause actual results or events to differ materially from those\nanticipated in such forward-looking information. In addition, this document\nmay contain forward-looking information attributed to third party industry\nsources. Crown Point believes that the expectations reflected in this\nforward-looking information are reasonable; however, undue reliance should not\nbe placed on this forward-looking information, as there can be no assurance\nthat the plans, intentions or expectations upon which they are based will\noccur. This press release contains forward-looking information concerning,\namong other things, the following: the Company's focus, the term of the CLL\nPermit, our capital expenditure budget for fiscal 2026, the allocation of such\ncapital expenditures that we intend to make on our concessions during 2026,\nand the operations that we intend to conduct on each of our concessions during\nsuch period. The reader is cautioned that such information, although\nconsidered reasonable by the Company, may prove to be incorrect. Actual\nresults achieved during the forecast period will vary from the information\nprovided in this document as a result of numerous known and unknown risks and\nuncertainties and other factors. A number of risks and other factors could\ncause actual results to differ materially from those expressed in the\nforward-looking information contained in this document including, but not\nlimited to, the following: that the tariffs imposed or threatened to be\nimposed by the U.S. on other countries, and retaliatory tariffs imposed or\nthreatened to be imposed by other countries on the U.S., will trigger a\nbroader global trade war which could have a material adverse effect on global\neconomies, and by extension the Argentine oil and natural gas industry and the\nCompany, including by decreasing demand for (and the price of) oil and natural\ngas, disrupting supply chains, increasing costs, causing volatility in global\nfinancial markets, and limiting access to (and/or increasing the cost of)\nfinancing; that the Company is not able to meet its obligations as they become\ndue; risks associated with the insolvency and/or bankruptcy of our joint\nventure partners and/or the operators of the concessions in which we have an\ninterest, including the risk that any such insolvency and/or bankruptcy has an\nadverse effect on one of our UTEs, one of our concessions and/or the Company;\nand the risks and other factors described under “Business Risks and\nUncertainties” in our most recently filed MD&A and under “Risk Factors”\nin the Company’s most recently filed Annual Information Form, which is\navailable for viewing on SEDAR+ at www.sedarplus.ca. With respect to\nforward-looking information contained in this document, the Company has made\nassumptions regarding, among other things: the ability and willingness of\nOPEC+ nations and other major producers of crude oil to balance crude oil\nproduction levels and thereby sustain higher global crude oil prices; that our\njoint venture partners and the operators of our concessions that we do not\noperate will honour their contractual commitments in a timely fashion and will\nnot become insolvent or bankrupt; the impact of inflation rates in Argentina\nand the devaluation of the Argentine peso against the USD on the Company; the\nimpact of increasing competition; the general stability of the economic and\npolitical environment in which the Company operates, including operating under\na consistent regulatory and legal framework in Argentina; future oil, natural\ngas and NGL prices (including the effects of governmental incentive programs\nand government price controls thereon); the timely receipt of any required\nregulatory approvals; the ability of the Company to obtain qualified staff,\nequipment and services in a timely and cost efficient manner; drilling\nresults; the costs of obtaining equipment and personnel to complete the\nCompany’s capital expenditure program; the ability to operate the projects\nin which the Company has an interest in a safe, efficient and effective\nmanner; that the Company will not pay dividends for the foreseeable future;\nthe ability of the Company to obtain financing on acceptable terms when and if\nneeded; the ability of the Company to service its debt repayments when\nrequired; field production rates and decline rates; the ability to replace and\nexpand oil and natural gas reserves through acquisition, development and\nexploration activities; the timing and costs of pipeline, storage and facility\nconstruction and expansion and the ability of the Company to secure adequate\nproduct transportation; currency, exchange, inflation and interest rates; the\nregulatory framework regarding royalties, taxes and environmental matters in\nArgentina; and the ability of the Company to successfully market its oil and\nnatural gas products. Management of Crown Point has included the above summary\nof assumptions and risks related to forward-looking information included in\nthis document in order to provide investors with a more complete perspective\non the Company’s future operations. Readers are cautioned that this\ninformation may not be appropriate for other purposes. Readers are cautioned\nthat the foregoing lists of factors are not exhaustive. The forward-looking\ninformation contained in this document are expressly qualified by this\ncautionary statement. The forward-looking information contained herein is made\nas of the date of this document and the Company disclaims any intent or\nobligation to update publicly any such forward-looking information, whether as\na result of new information, future events or results or otherwise, other than\nas required by applicable Canadian securities laws.\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this news release.\n\n____________________________\n(1) See \"Results of Operations – Sales Volumes\".\n(2) See \"Results of Operations – Sales Volumes\".\n(3) Non-IFRS ratio. See \"Non-IFRS and Other Financial Measures\".\n(4) Capital management measure. See \"Non-IFRS and Other Financial Measures\".\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/cae2ebbf-f91e-491c-9e57-c48e6f61ea6b)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-11T23:18:06.130091732Z","server_sent_at_ms":1786490286130},"received_at":"2026-08-11T23:18:06.282Z","source_url":"https://www.globenewswire.com/news-release/2026/08/11/3343310/0/en/crown-point-announces-operating-and-financial-results-for-the-three-and-six-months-ended-june-30-2026.html"},"analysis":{"id":"105142","press_release_id":"116151","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["Working capital deficit remains significant at $63.4 million","TDF Concessions (Las Violetas, Rio Cullen, Angostura) expire August 16-17, 2026","Rights offering resulted in Liminar Energia S.A. owning approximately 91% of the company"],"eventType":"earnings","narrative":"Crown Point Energy reported a strong operational turnaround for Q2 2026, generating $69.2 million in revenue compared to $22.2 million in the prior year, and swinging to a net profit of $9.2 million.\n\nAverage daily sales volumes increased to 9,158 BOE per day, driven by contributions from the Chubut concessions, resulting in an operating netback of $25.75 per BOE versus a negative netback in the previous year.\n\nSubsequent to quarter-end, the company closed a $30 million rights offering, using proceeds to repay a $29.9 million loan to Liminar Energia S.A., which now owns approximately 91% of the company.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Crown Point swings to profit on tripled revenue; rights offering cements Liminar control."},"keyFigures":{"revenue":69200000,"customDimensions":{"funds_flow":17400000,"net_income":9200000,"working_capital_deficit":63400000,"rights_offering_proceeds":30000000,"operating_netback_per_boe":25.75,"average_daily_sales_volumes_boe":9158}},"quotedText":"During Q2 2026, the Company earned $69.2 million of oil and natural gas sales revenue on total average daily sales volumes of 9,158 BOE per day","namedEntities":{"people":[{"name":"Brian Moss","role":"Interim President & CEO"},{"name":"Marcos Esteves","role":"Vice-President, Finance & CFO"}],"products":["Oil","Natural Gas"],"companies":[{"name":"Crown Point Energy Inc.","ticker":"CWV"},{"name":"Liminar Energia S.A.","relationship":"significant shareholder"},{"name":"TSX Venture Exchange","relationship":"exchange"}],"dollarAmounts":[{"amount":"$69.2 million","context":"Q2 2026 oil and natural gas sales revenue"},{"amount":"$9.2 million","context":"Q2 2026 net income"},{"amount":"$22.5 million","context":"Q2 2026 net cash provided by operating activities"},{"amount":"$30 million","context":"gross proceeds from Rights Offering"},{"amount":"$0.125","context":"Rights Offering price per share"},{"amount":"$29.9 million","context":"loan repaid to Liminar"},{"amount":"$63.4 million","context":"working capital deficit at June 30, 2026"},{"amount":"$54.3 million","context":"fiscal 2026 capital spending budget"}]},"materialImpact":{"score":4,"reasoning":"Significant operational turnaround with Q2 revenue surging to $69.2 million from $22.2 million year-over-year, swinging from a net loss to a $9.2 million profit. The company also completed a $30 million rights offering to strengthen its balance sheet."},"tickerRelevance":{"others":[],"primary":"CWV"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":["offering"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"strong_operational_turnaround","sectorWeight":"energy"}},"event_type":"earnings","event_type_secondary":["offering"],"sentiment":"bullish","material_impact_score":4,"narrative":"Crown Point Energy reported a strong operational turnaround for Q2 2026, generating $69.2 million in revenue compared to $22.2 million in the prior year, and swinging to a net profit of $9.2 million.\n\nAverage daily sales volumes increased to 9,158 BOE per day, driven by contributions from the Chubut concessions, resulting in an operating netback of $25.75 per BOE versus a negative netback in the previous year.\n\nSubsequent to quarter-end, the company closed a $30 million rights offering, using proceeds to repay a $29.9 million loan to Liminar Energia S.A., which now owns approximately 91% of the company.","key_figures":{"revenue":69200000,"customDimensions":{"funds_flow":17400000,"net_income":9200000,"working_capital_deficit":63400000,"rights_offering_proceeds":30000000,"operating_netback_per_boe":25.75,"average_daily_sales_volumes_boe":9158}},"named_entities":{"people":[{"name":"Brian Moss","role":"Interim President & CEO"},{"name":"Marcos Esteves","role":"Vice-President, Finance & CFO"}],"products":["Oil","Natural Gas"],"companies":[{"name":"Crown Point Energy Inc.","ticker":"CWV"},{"name":"Liminar Energia S.A.","relationship":"significant shareholder"},{"name":"TSX Venture Exchange","relationship":"exchange"}],"dollarAmounts":[{"amount":"$69.2 million","context":"Q2 2026 oil and natural gas sales revenue"},{"amount":"$9.2 million","context":"Q2 2026 net income"},{"amount":"$22.5 million","context":"Q2 2026 net cash provided by operating activities"},{"amount":"$30 million","context":"gross proceeds from Rights Offering"},{"amount":"$0.125","context":"Rights Offering price per share"},{"amount":"$29.9 million","context":"loan repaid to Liminar"},{"amount":"$63.4 million","context":"working capital deficit at June 30, 2026"},{"amount":"$54.3 million","context":"fiscal 2026 capital spending budget"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-12T01:36:40.372Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"strong_operational_turnaround","sectorWeight":"energy"}},"durationMs":162030,"modelName":"glm-4.7"}}