Crown Point Acquires Additional Interest in El Tordillo, La Tapera and Puesto Quiroga Hydrocarbon Exploitation Concessions in Chubut, Argentina

About this update from Crown Point Energy, Inc.

[{"type":"text","content":"Crown Point Acquires Additional Interest in El Tordillo, La Tapera and Puesto Quiroga Hydrocarbon Exploitation Concessions in Chubut, Argentina\n\n\n\n CALGARY, Alberta, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Crown Point Energy Inc. (TSX-V: CWV) (\"\n \n Crown Point\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 Tecpetrol S.A. and YPF S.A of a 59.32947% interest in the El Tordillo, La Tapera and Puesto Quiroga hydrocarbon exploitation concessions (the \"\n \n Chubut Concessions\n \n \") and certain related infrastructure. Combined with the previously announced acquisition of a 35.6706% interest in the Chubut Concessions from Pampa Energía S.A. (\"\n \n Pampa\n \n \") that closed on October 1, the Company has now acquired an aggregate 95% interest in the Chubut Concessions (collectively, the \"\n \n Acquisitions\n \n \").\n \n\n The Chubut Concessions are located in the Province of Chubut, Argentina on the northern flank of the Golfo San Jorge basin approximately 40 kilometers west of Comodoro Rivadavia and comprise a total of 113,325 acres. During the nine-month period ended September 30, 2025, the 95% interest in the Chubut Concessions acquired by the Company produced an average of approximately 5,020 boe per day, comprised of 4,500 barrels per day of light and medium crude oil and 3,130 mcf per day of natural gas sales volumes.\n \n\n The Company paid total cash consideration of approximately US$57.9 million after closing adjustments to complete the Acquisitions, which were funded in part using the US$30.0 million loan (the \"\n \n Loan\n \n \") provided by Liminar Energía S.A., the Company's largest shareholder. Contingent consideration of up to US$3.5 million in cash is payable to Pampa following closing.\n \n\n For additional details regarding the Acquisitions, the Chubut Concessions and the Loan, see the Company's press releases issued on June 9, September 30, October 1 and November 11, 2025.\n \n\n\n About Crown Point\n \n\n\n Crown Point is an international oil and gas exploration and development company headquartered in Buenos Aires, Argentina, incorporated in Canada, trading on the TSX Venture Exchange and operating in Argentina. Crown Point's exploration and development activities are f...

More updates from Crown Point Energy, Inc.