Mr. Gordon Kettleson reports

CROWN POINT ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2023

Crown Point Energy Inc. has released its financial and operating results for the three and six months ended June 30, 2023.

Selected information is outlined in this news release and should be read in conjunction with the company's June 30, 2023, unaudited condensed interim consolidated financial statements and management's discussion and analysis (MD&A), which are being filed with Canadian securities regulatory authorities, and will be made available under the company's profile on SEDAR+ and on the company's website. All dollar figures are expressed in U.S. dollars unless otherwise stated.

Director retirement

Keith Turnbull, director since April, 2012, and current chair of the audit, reserves and HSE (health, safety and environment) committee, has decided to retire from the board effective at the close of business today. During Mr. Turnbull's tenure as director, he has always provided clear guidance and sound advice to senior management on financial and business matters; his presence will be missed. The company wishes him well in his retirement and future endeavours. Gordon Kettleson, board chair, will assume the chair of the audit, reserves and HSE committee. Mr. Kettleson is an experienced oil and gas executive who joined Crown Point's board in 2001.

About Crown Point Energy Inc.

Crown Point is an international oil and gas exploration and development company headquartered in Calgary, Canada, incorporated in Canada, trading on the TSX Venture Exchange and operating in Argentina. Crown Point's exploration and development activities are focused in three producing basins in Argentina, the Austral basin in the province of Tierra del Fuego, and the Neuquen and Cuyo (or Cuyana) basins in the province of Mendoza. Crown Point has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a basis for future growth.