Crown Point Ventures Ltd.

Crown Point Ventures Ltd.

December 10, 2007 06:00 ET

Crown Point Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2007) - Crown Point Ventures Ltd. (TSX VENTURE:CWV) (the "Company") is pleased to announce that they have received notification from the operating partner of the Leguna De Piedra block that the 3-D seismic program will commence in January. The Company has a 25% working interest in the block which is approximately 100,000 hectare (250,000 acre) and located on the South East side of the prolific Nuequen Basin. The seismic shoot and interpretation program will take 5 to 6 months to complete. The Company is also exploring other opportunities in Argentina.

In Manitoba, twenty seven of twenty eight wells continue to add cash flow to the Company and will exit this year with production of 90 barrels per day. The Company is presently analyzing new opportunities in British Columbia, Saskatchewan and Manitoba.

In Alberta, our operating partner has been able to reduce the high operating expense problems on the Saddle Hills project and has returned the property to profitability.

This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Crown Point Ventures Ltd.
    Gordon Kettleson
    President and CEO
    (604) 682-3255
    (604) 689-4960 (FAX)