Business
Crown Point Acquires 35.6706% Interest in El Tordillo, La Tapera and Puesto Quiroga Hydrocarbon Exploitation Concessions in Chubut, Argentina
Crown Point Acquires 35.6706% Interest in El Tordillo, La Tapera and Puesto Quiroga Hydrocarbon E...
About this update from Crown Point Energy, Inc.
[{"type":"text","content":"\n\n\n\n Crown Point Acquires 35.6706% Interest in El Tordillo, La Tapera and Puesto Quiroga Hydrocarbon Exploitation Concessions in Chubut, Argentina\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Oct. 1, 2025\n \n\n /CNW/ - Crown Point Energy Inc. (TSXV: CWV) (\"\n \n\n Crown Point\n \n\n \" or the \"\n \n Company\n \n \") is pleased to announce that its wholly-owned subsidiary, Crown Point Energia S.A., has closed the previously announced acquisition from Pampa Energía S.A. (\"\n \n Pampa\n \n \") of a 35.6706% interest (the \"\n \n Participating Interest\n \n \") in the El Tordillo, La Tapera and Puesto Quiroga hydrocarbon exploitation concessions (the \"\n \n Chubut Concessions\n \n \") and certain related infrastructure (the \"\n \n Acquisition\n \n \").\n \n\n\n\n\n\n\n\n\n\n Crown Point\n \n paid\n \n US$0.3 million\n \n to a third party to acquire the right to purchase Pampa's Participating Interest in the Chubut Concessions and paid\n \n US$2.0 million\n \n to Pampa to acquire the Participating Interest, subject to customary closing adjustments.  Following closing, contingent consideration of up to\n \n US$3.5 million\n \n is payable to Pampa.\n \n\n The acquisition of an additional 59.32947% interest in the Chubut Concessions from Tecpetrol S.A. and YPF S.A is scheduled to close later in the fourth quarter.  Completion of these acquisitions remains subject to, among other things, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and the satisfaction of other customary closing conditions. The Company is currently in the process of arranging the necessary financing to fund the purchase price for these acquisitions.\n \n\n For additional details regarding the Acquisition and the Chubut Concessions, see the Company's press releases issued on\n \n June 9\n \n and\n \n September 30, 2025\n \n .\n \n\n\n About\n \n Crown Point\n \n\n\n\n\n Crown Point\n \n is an international oil and gas exploration and development company headqua...