Mr. Gabriel Obrador reports

CROWN POINT ANNOUNCES PLACEMENT OF ADDITIONAL US$6.0 MILLION OF SERIES IV NOTES

Crown Point Energy Inc.'s wholly owned Argentine subsidiary, Crown Point Energia S.A. (CPE), has placed a total of $6.0-million (U.S.) principal amount of additional Series IV unsecured fixed-rate notes, to be issued on Dec. 6, 2023, which are denominated in United States dollars and payable in pesos.

The total principal amount of the Series IV notes of $13,476,000 (U.S.) will be repaid in four quarterly equal instalments, starting on Oct. 20, 2024, and the last instalment will be payable on July 20, 2025. The Series IV notes accrue interest at a fixed rate of 5 per cent per annum, payable every three months in arrears from the issue date.

The net proceeds from the offering will be used for general corporate purposes and to make investments in the development of assets in Argentina.

The offering was made pursuant to CPE's Negotiable Obligations Issuance Global Program for up to $75-million (U.S.) (or its equivalent in other currencies) established by CPE's base prospectus dated May 10, 2022, as supplemented by prospectus supplement dated Dec. 1, 2023, copies of which can be found in Spanish on the Financial Information Highway on the CNV website, on the primary placements micro-website (MPMAE) of the Mercado Abierto Electronico S.A. (MAE), and in the Bolsas y Mercados Argentinos S.A.'s and MAE's daily electronic bulletin.

Following the closing of the offering, CPE has the following notes outstanding: $14,653,370 (U.S.) principal amount of Series III notes; and $13,476,000 (U.S.) principal amount of Series IV notes.

About Crown Point Energy INc.

Crown Point is an international oil and gas exploration and development company incorporated in Alberta, 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 Cuyano 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.

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