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Crescent Point Energy Corp. Announces Third Quarter 2011 Results

November 10, 2011

CALGARY, Alberta, November 10, 2011 /PRNewswire/ –

Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX:
CPG) is pleased to announce its operating and financial results for the
third quarter ended September 30, 2011. The unaudited financial statements
and notes, as well as management’s discussion and analysis, will be
available on the System for Electronic Document Analysis and Retrieval
(“SEDAR”) at http://www.sedar.com and on Crescent Point’s website at

http://www.crescentpointenergy.com.

FINANCIAL AND OPERATING HIGHLIGHTS

                                      Three months ended       Nine months ended
                                            September 30            September 30
        (Cdn$000s except shares,
          per share and per boe
          amounts)               2011     2010  % Change   2011   2010  % Change
        Financial
        Funds flow from
        operations (1)         303,315   230,424     32   911,335   619,641   47
          Per share (1)(2)        1.09      0.91     20      3.32      2.70   23
        Net income (loss) (3)  204,624    (7,804) 2,722   287,331   101,826  182
          Per share (2)(3)        0.74     (0.03) 2,567      1.05      0.44  139
        Dividends paid or
        declared               195,021   175,753     11   571,493   472,832   21
          Per share (2)           0.69      0.69      -      2.07      2.07    -
        Payout ratio (%) (1)(4)     64        76    (12)       63        76  (13)
          Per share (%)(1)(2)(4)    63        76    (13)       62        77  (15)
        Net debt (1)(5)      1,072,615 1,340,196    (20)1,072,615 1,340,196  (20)
        Capital acquisitions
        (net) (6)              163,298 1,446,164    (89)  198,548 1,996,277  (90)
        Development capital
        expenditures           349,660   348,513      -   779,921   712,058   10
        Weighted average shares
        outstanding (mm)
          Basic                  275.3     250.0     10     271.6     225.2   21
          Diluted                277.9     254.0      9     274.2     229.1   20
        Operating
        Average daily production
          Crude oil and NGLs
          (bbls/d)              65,253    58,390     12    64,224    52,519   22
          Natural gas (mcf/d)   42,029    42,947     (2)   42,470    38,134   11
          Total (boe/d)         72,258    65,548     10    71,302    58,875   21
        Average selling prices (7)
          Crude oil and NGLs
          ($/bbl)                83.65     70.54     19     86.37     72.44   19
          Natural gas ($/mcf)     3.87      3.69      5      4.01      4.21   (5)
          Total ($/boe)          77.79     65.25     19     80.18     67.35   19
        Netback ($/boe)
          Oil and gas sales      77.79     65.25     19     80.18     67.35   19
          Royalties             (14.27)   (11.65)    22    (13.77)   (12.78)   8
          Operating expenses    (10.64)   (11.27)    (6)   (11.16)   (10.89)   2
          Transportation         (1.78)    (1.49)    19     (1.87)    (1.64)  14
          Netback prior to
          realized derivatives   51.10     40.84     25     53.38     42.04   27
          Realized gain (loss)
          on derivatives         (1.40)     1.25   (212)    (2.82)     0.66 (527)
        Netback (1)              49.70     42.09     18     50.56     42.70   18

HIGHLIGHTS

In third quarter 2011, Crescent Point continued to execute its
integrated business strategy of acquiring, exploiting and developing
high-quality, long-life light and medium oil and natural gas properties.

        - Crescent Point grew third quarter 2011 production by 9
          percent over second quarter 2011 and 10 percent over third quarter 2010.
          The Company produced an average of 72,258 boe/d, weighted 90 percent to
          light and medium crude oil. Current production exceeds 76,500 boe/d and
          the Company remains on track to achieve exit production guidance of
          77,500 boe/d.
        - During third quarter, Crescent Point spent a record $279.5
          million on drilling and completions, drilling a record 164 (116.5 net)
          oil wells and 2 (2.0 net) service wells with a 100 percent success rate.
          Crescent Point also spent $70.2 million on land and facilities, for
          total capital expenditures of $349.7 million.
        - Crescent Point's funds flow from operations increased by 32
          percent to $303.3 million ($1.09 per share - diluted) in third quarter
          2011, compared to $230.4 million ($0.91 per share - diluted) in third
          quarter 2010.
        - During the quarter, Crescent Point maintained consistent monthly
          dividends of $0.23 per share, totaling $0.69 per share for third quarter
          2011. This is unchanged from $0.69 per share paid in third quarter 2010.
          On an annualized basis, the third quarter dividend equates to a yield of
          6.6 percent, based on a volume weighted average quarterly share price of
          $41.55.
        - On July 14, 2011, Crescent Point announced its land position in
          Alberta's emerging Beaverhill Lake light oil resource play. Drilling
          results to date in the play have exceeded the Company's expectations,
          with production hitting more than 2,000 boe/d by the end of third
          quarter from zero at the beginning of the year. There are currently six
          non-operated drilling rigs running on working interest lands and
          operators plan to add two more rigs for the remainder of the year. The
          Company has accumulated more than 380 (165 net) sections of land highly
          prospective for the Beaverhill Lake zone in the Swan Hills area, as well
          as approximately 19 percent of the issued and outstanding common shares
          of a leading Beaverhill Lake producer, Arcan Resources Ltd. ("Arcan").
        - Crescent Point grew production from the Shaunavon area to more
          than 9,900 boe/d by the end of third quarter, an increase of more than
          2,600 boe/d. The increase was a result of the announced reallocation of
          a portion of planned capital spending to the Shaunavon area from the
          Viewfield Bakken play due to the prolonged spring break-up and unusual
          flooding conditions in southeast Saskatchewan, which demonstrates the
          depth of the Company's drilling inventory and the flexibility of its
          operations. Production growth in the Shaunavon area continues to be
          strong, with current levels at more than 11,000 boe/d.
        - On August 31, 2011, the Company announced the acquisition of
          approximately 750 boe/d of production and more than 78 net sections of
          land in North Dakota, U.S., through two strategic acquisitions. Crescent
          Point believes the land to be prospective for the lower-risk Bakken and
          Three Forks zones.
        - Also on August 31, 2011, Crescent Point announced a $50 million
          increase to its 2011 capital expenditures budget, to $1.05 billion from
          $1.0 billion, as well as an increase in its 2011 exit production rate,
          to 77,500 boe/d from 76,500 boe/d. The Company also announced a $375
          million bought deal financing with an over-allotment option for its
          underwriters. Including the over-allotment option, a total of 9,025,000
          Crescent Point shares were issued pursuant to the financing at a price
          of $43.50, for total gross proceeds of $392.6 million.
        - The Company's balance sheet remains strong, with projected
          average net debt to 12-month cash flow of less than 1.0 times and
          approximately $1.1 billion unutilized on its bank lines as at September
          30, 2011.
        - Crescent Point continues to implement its disciplined hedging
          strategy to provide increased certainty over cash flow and dividends. As
          of November 8, 2011, the Company had hedged 55 percent, 56 percent, 43
          percent and 23 percent of production, net of royalty interest, for the
          balance of 2011, 2012, 2013 and 2014, respectively. Average quarterly
          hedge prices range from Cdn$84 per boe to Cdn$97 per boe. The Company
          also initiated its first quarter 2015 hedge position, with nine percent
          of production hedged at approximately Cdn$93 per boe.

OPERATIONS REVIEW

Third Quarter Operations Summary

During third quarter 2011, Crescent Point continued to implement
management’s business strategy of creating sustainable, value-added growth
in reserves, production and cash flow through acquiring, exploiting and
developing high-quality, long-life light and medium oil and natural gas
properties.

Crescent Point achieved average production of 72,258 boe/d in third
quarter, weighted 90 percent to light and medium crude oil. The Company
remains on track to achieve annual guidance of 72,500 boe/d and its upwardly
revised 2011 exit production rate of 77,500 boe/d. Current production
exceeds 76,500 boe/d.

After a prolonged spring break-up due to unusual flooding in western
Canada, capital development activities resumed in early July. During third
quarter, the Company spent a record $279.5 million on drilling and
completions, drilling 164 (116.5 net) oil wells and 2 (2.0 net) service
wells with a 100 percent success rate. Crescent Point also spent $70.2
million on land and facilities, for total capital expenditures of $349.7
million during the quarter.

Drilling Results

The following tables summarize our drilling results for the three and
nine months ended September 30, 2011:

        Three months
        ended
        September 30,                                                          %
        2011            Gas  Oil  D&A  Service  Standing  Total   Net    Success
        Southeast
        Saskatchewan
        and Manitoba     -   55    -      2        -       57    43.0      100
        Southwest
        Saskatchewan     -   78    -      -        -       78    58.7      100
        South/Central
        Alberta          -   22    -      -        -       22    13.3      100
        Northeast BC
        and Peace River
        Arch, Alberta    -    2    -      -        -        2     1.4      100
        United States(1) -    7    -      -        -        7     2.1      100
        Total            -  164    -      2        -      166   118.5      100
        Nine months
        ended
        September 30,                                                         %
        2011            Gas  Oil  D&A  Service   Standing  Total   Net   Success
        Southeast
        Saskatchewan
        and Manitoba     -   159   -      2        -       161    127.1     100
        Southwest
        Saskatchewan     -   126   -      -        -       126     89.6     100
        South/Central
        Alberta          -    30   -      -        -        30     16.9     100
        Northeast BC
        and Peace River
        Arch, Alberta    -    4    -      -        -         4      2.7     100
        United States(1) -   16    -      -        -        16      3.4     100
        Total            -  335    -      2        -       337    239.7     100

        (1) The net well count is subject to final working interest determination.

Southeast Saskatchewan and Manitoba

In response to severe flooding in second quarter in southeast
Saskatchewan, Crescent Point reallocated a portion of planned 2011 capital
spending from the Viewfield Bakken play to the Shaunavon area in southwest
Saskatchewan. The Company reduced its 2011 drilling expectations in
southeast Saskatchewan by approximately 60 net wells, primarily in the
Viewfield Bakken resource play. Since then, weather conditions have
significantly improved, allowing for increased access and accelerated
drilling. Production in the Viewfield Bakken play grew by more than 4,400
boe/d by the end of third quarter. If conditions remain favourable, Crescent
Point may exceed its current 2011 capital expenditures budget for the area.
These drilling activities would position the Company to exceed its current
exit production guidance for 2011 and allow for an early start to the 2012
capital program.

During third quarter 2011, Crescent Point participated in the drilling
of 55 (41.0 net) oil wells and 2 (2.0 net) service wells in southeast
Saskatchewan and southwest Manitoba, achieving a 100 percent success rate.
Of the oil wells drilled, 37 (31.7 net) were horizontal wells in the
Viewfield Bakken light oil resource play, 2 (2.0 net) were Flat Lake
horizontal wells, 10 (5.5 net) were conventional horizontal wells in
southeast Saskatchewan and 4 (1.0 net) were in Manitoba.

Production performance from water injection patterns in the Viewfield
Bakken resource play continues to exceed the Company’s expectations and has
demonstrated the applicability of water flood to the play. To date, the
Company has converted 18 wells to injection wells in the Bakken play.
Crescent Point now has more than 12 months of history on 11 injection wells
across five different areas of the play. Each one has demonstrated positive
water flood response in offsetting producer wells. Based on promising
results from nearly three years of production in the Company’s first Bakken
water flood pilot, Crescent Point believes that water flood implementation
could increase ultimate recovery factors to greater than 30 percent from an
expected 19 percent on primary recovery. Preliminary meetings with partners
to unitize a portion of the centre of the play are underway. The Company
will continue to develop the water flood program and anticipates having more
than 50 injection wells in the Viewfield Bakken play by year end 2012.

Expansion of the Viewfield gas plant, to 30 mmcf/d from 21 mmcf/d, was
completed and brought on line during third quarter. In addition, more than
90 kilometres of pipeline were constructed.

Southwest Saskatchewan

In response to the unusual flooding experienced in southeast
Saskatchewan during second quarter, Crescent Point reallocated a portion of
planned capital spending from the Viewfield Bakken play to the Shaunavon
area in southwest Saskatchewan where surface conditions were more
favourable. As a result, production grew to more than 9,900 boe/d by the end
of third quarter, an increase of more than 2,600 boe/d. Production growth in
the Shaunavon area continues to be strong, with current levels at more than
11,000 boe/d.

During third quarter, the Company participated in the drilling of 78
(58.7 net) oil wells in southwest Saskatchewan, of which 34 (32.6 net) were
Lower Shaunavon wells and 8 (6.1 net) were Upper Shaunavon wells, achieving
a 100 percent success rate. To the end of third quarter, the Company has
drilled 89 (69.4 net) wells in the Shaunavon area. In total, Crescent Point
has budgeted to drill 114 (86 net) wells in the Shaunavon area during 2011,
compared to original plans to drill 44 net wells.

The Company is currently injecting water into six horizontal injection
wells in four pressure maintenance programs in the Lower Shaunavon zone.
Crescent Point is encouraged by results to date. Plans to convert up to 3
wells in the Upper Shaunavon zone to water injection wells in 2012 are also
underway.

Crescent Point continued to focus on adding infrastructure in the
Shaunavon area. The Company has commenced construction of a 6 mmcf/d gas
plant, which is designed to be expandable to12 mmcf/d. The plant is expected
to be operational by early 2012. During third quarter, more than 50
kilometres of pipeline were constructed. Plans to design and construct an
additional battery in 2012 to accommodate increased production have
commenced. Operating costs are expected to be reduced with the
infrastructure development.

The Company drilled 23 (14.0 net) horizontal oil wells, of a planned 26
wells for the Viking area in 2011. The remaining 3 (1.5 net) wells were
drilled in early fourth quarter. As of the end of third quarter, 11 of the
wells had been fracture stimulated and are expected to be put on production
during fourth quarter 2011. Construction of a battery to accommodate
increased production and future development began in fourth quarter 2011.

At Battrum/Cantuar, the Company participated in the drilling of 13 (6.0
net) oil wells, achieving a 100 percent success rate. Overall production
remains steady, with minimal capital required to maintain the area’s
production rates.

Alberta

Due to the Company’s positive results to date in the Swan Hills
Beaverhill Lake light oil resource play and the flooding in southeast
Saskatchewan during second quarter, Crescent Point reallocated a portion of
its planned 2011 capital spending from the Viewfield Bakken to the Swan
Hills area.

During third quarter, 22 (13.3 net) oil wells were drilled, including 12
(4.5 net) wells in the Beaverhill Lake light oil resource play. As of the
end of third quarter, the Company has participated in a total of 19 (7.1
net) successful wells in the Beaverhill Lake play and has plans to
participate in up to 44 (18.8 net) wells in 2011. There are currently six
non-operated drilling rigs running on working interest lands. Operators plan
to add two more rigs for the remainder of the year.

As of the end of third quarter, 16 (5.9 net) wells have been placed on
stream in the Swan Hills area, with 13 (4.9 net) of those wells on stream
for more than 30 days. The average initial 30-day rate for those wells
exceeds 750 boe/d. Initial results from the wells have exceeded the
Company’s expectations, with organic production growth from zero to over
2,000 boe/d by the end of third quarter.

Crescent Point has access to more than one million net acres of
undeveloped land in southern Alberta and has been pursuing several
exploration projects in the area. During third quarter, the Company
participated in the drilling of 10 (8.8 net) conventional oil wells, of
which 6 (4.9 net) were horizontal oil wells in various zones. During fourth
quarter 2011, the Company plans to drill 2.0 net wells to follow up on
previously drilled unconventional exploration wells in the Alberta Bakken
play, for a total of 3.0 net wells in 2011.

United States

On August 31, 2011, the Company announced the acquisition of
approximately 750 boe/d of production and more than 78 net sections of land
in North Dakota, U.S., through two strategic acquisitions. Crescent Point
has now accumulated more than 165 net sections of land in the state.

During third quarter, the Company participated in the drilling of 7 (2.1
net) oil wells, of which 2 (1.3 net) were operated, achieving a 100 percent
success rate. The two operated wells are expected to be completed by early
2012, as part of Crescent Point’s two-year service agreement with a leading
U.S. fracture stimulation company. The Company expects to participate in
drilling up to 10 net wells in 2011, including 4 gross operated wells.

OUTLOOK

Crescent Point continues to execute its business plan of creating
sustainable value-added growth in reserves, production and cash flow through
management’s integrated strategy of acquiring, exploiting and developing
high-quality, long-life light and medium oil and natural gas properties in
United States and Canada.

Crescent Point delivered strong operational and financial results and
executed a record development program in third quarter 2011. Crescent Point
remains on track to achieve annual guidance of 72,500 boe/d and its 2011
exit production rate of 77,500 boe/d. Current production exceeds 76,500
boe/d.

The Company successfully executed a reallocation of a portion of its
planned capital spending from the Viewfield Bakken play to the Shaunavon and
Beaverhill Lake areas, resulting in strong production growth in both areas
and demonstrating the depth of its drilling inventory opportunities and
flexibility of its operations. Improved conditions in southeast Saskatchewan
have also allowed for increased drilling activities. Assuming weather
conditions continue to be favourable in southeast Saskatchewan, Crescent
Point may exceed its 2011 capital budget expectations due to increased
drilling in the Viewfield Bakken play and strong growth in the Shaunavon
area. The majority of the increased drilling would be completed in fourth
quarter, which would position the Company to exceed its 2011 exit production
forecast, and would provide an early start to the Company’s 2012 capital
program. Water tables in southeast Saskatchewan remain high despite the dry
weather, so the Company is again planning for a prolonged, three-month
spring break-up in 2012. Crescent Point expects to release its 2012 budget
plans in early December, along with an update on its 2011 capital
expenditures and production expectations.

The Company expects 2011 annual funds flow from operations to be $1.21
billion ($4.36 per share – diluted), based on US$94.00/bbl WTI, Cdn$3.70/mcf
AECO and a US$/Cdn$1.01 exchange rate.

Crescent Point has more than 6,500 net low-risk drilling locations in
inventory in four large resource plays, representing more than 450,000 boe/d
of risked potential production additions. This depth of drilling inventory
positions the Company well for long-term sustainable growth in production,
reserves and net asset value, and also provides support for dividends over
the long term.

The Company’s balance sheet remains strong, with projected average net
debt to 12-month cash flow of less than 1.0 times and approximately $1.1
billion unutilized on its bank lines as at September 30, 2011.

Crescent Point continues to implement its balanced 31/2-year price risk
management program, using a combination of swaps, collars and purchased put
options with investment-grade counterparties. As of November 8, 2011, the
Company had hedged 55 percent, 56 percent, 43 percent and 23 percent of
production, net of royalty interest, for the balance of 2011, 2012, 2013 and
2014, respectively. Average quarterly hedge prices range from Cdn$84 per boe
to Cdn$97 per boe. The Company also initiated its first quarter 2015 hedge
position, with nine percent of production hedged at approximately Cdn$93 per
boe.

Crescent Point’s management believes that with the Company’s
high-quality reserve base and development drilling inventory, excellent
balance sheet and solid risk management program, the Company is
well-positioned to continue generating strong operating and financial
results.

2011 Guidance

Crescent Point’s 2011 guidance is as follows:

        Production
          Oil and NGL (bbls/d)                       65,375
          Natural gas (mcf/d)                        42,750
        Total (boe/d)                                72,500
        Exit (boe/d)                                 77,500
        Funds flow from operations ($000)         1,210,000
        Funds flow per share - diluted ($)             4.36
        Cash dividends per share ($)                   2.76
        Capital expenditures ($000) (1)           1,050,000
        Wells drilled, net                              312
        Pricing
          Crude oil - WTI (US$/bbl)                   94.00
          Crude oil - WTI (Cdn$/bbl)                  93.07
          Natural gas - Corporate (Cdn$/mcf)           3.70
          Exchange rate (US$/Cdn$)                     1.01

(1) The projection of capital expenditures excludes acquisitions, which
are separately considered and evaluated.

        ON BEHALF OF THE BOARD OF DIRECTORS

        (signed)

        Scott Saxberg
        President and Chief Executive Officer
        November 10, 2011

Non-GAAP Financial Measures

Throughout this press release, the Company uses the terms “funds flow
from operations”, “funds flow from operations per share – diluted”, “net
debt”, “netback”, “payout ratio” and “payout ratio per share – diluted.”
These terms do not have any standardized meaning as prescribed by IFRS and,
therefore, may not be comparable with the calculation of similar measures
presented by other issuers.

Funds flow from operations is calculated based on cash flow from
operating activities before changes in non-cash working capital, transaction
costs and decommissioning expenditures. Funds flow from operations per share
- diluted is calculated based on cash flow from operating activities before
changes in non-cash working capital, transaction costs and decommissioning
expenditures. Management utilizes funds flow from operations as a key
measure to assess the ability of the Company to finance dividends, operating
activities, capital expenditures and debt repayments. Funds flow from
operations as presented is not intended to represent cash flow from
operating activities, net earnings or other measures of financial
performance calculated in accordance with IFRS.

The following table reconciles the cash flow from operating activities
to funds flow from operations:

                  Three months ended September 30  Nine months ended September 30
        ($000s)         2011      2010  % Change      2011     2010   % Change
        Cash flow from
          operating
          activities  309,622    204,583      51    936,695   580,990     61
        Changes in
          non-cash
          working
          capital      (7,679)    24,480    (131)   (30,248)   29,075   (204)
        Transaction
        costs             721        951     (24)     2,488     8,062    (69)
        Decommissioning
        expenditures      651        410      59      2,400     1,514     59
        Funds flow from
        operations    303,315    230,424      32    911,335   619,641     47

Net debt is calculated as current liabilities plus long-term debt less
current assets and long-term investments, but excludes derivative asset,
derivative liability and unrealized foreign exchange on translation of US
dollar senior guaranteed notes. Management utilizes net debt as a key
measure to assess the liquidity of the Company.

The following table reconciles long-term debt to net debt:

                                         As at September 30
        ($000s)                        2011    2010    % Change 

        Long-term debt              996,881    1,214,705    -18
        Current liabilities         482,999      357,110     35
        Current assets             -310,701     -171,755     81
        Long-term investments      -122,967      -46,161    166

        Excludes:
          Derivative asset           51,139      14,110     262
          Derivative liability       -7,230     -25,079     -71
          Unrealized foreign
           exchange on
           translation of US
           dollar senior
           guaranteed notes         -17,506      -2,734     540
        Net debt                  1,072,615   1,340,196     -20

Netback is calculated on a per boe basis as oil and gas sales, less
royalties, operating and transportation expenses and realized derivative
gains and losses. Netback is used by management to measure operating results
on a per boe basis to better analyze performance against prior periods on a
comparable basis.

Payout ratio and payout ratio per share – diluted are calculated on a
percentage basis as dividends paid or declared (including the value of
dividends issued pursuant to the Company’s dividend reinvestment plan)
divided by funds flow from operations. Payout ratio is used by management to
monitor the dividend policy and the amount of funds flow from operations
retained by the Company for capital reinvestment.

Forward-Looking Statements

Certain statements contained in this press release constitute
forward-looking statements. All forward-looking statements are based on
Crescent Point’s beliefs and assumptions based on information available at
the time the assumption was made. The use of any of the words “could”,
“should”, “can”, “anticipate”, “expect”, “believe”, “will”, “may”,
“projected”, “sustain”, “continues”, “strategy”, “potential”, “projects”,
“grow”, “take advantage”, “estimate”, “well-positioned” and similar
expressions are intended to identify forward-looking statements. By their
nature, such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements.
Crescent Point believes that the expectations reflected in those
forward-looking statements are reasonable but no assurance can be given that
these expectations will prove to be correct and such forward-looking
statements included in this report should not be unduly relied upon. These
statements speak only as of the date of this press release or, if
applicable, as of the date specified in those documents specifically
referenced herein.

In particular, this press release contains forward-looking statements
pertaining to the following: the performance characteristics of Crescent
Point’s oil and natural gas properties; oil and natural gas production
levels; capital expenditure programs; drilling programs; well conversion and
water injection programs; the quantity of Crescent Point’s oil and natural
gas reserves and anticipated future cash flows from such reserves; the
quantity of drilling locations in inventory; projections of commodity prices
and costs; supply and demand for oil and natural gas; expectations regarding
the ability to raise capital and to continually add to reserves through
acquisitions and development; expected debt levels and credit facilities;
expected pipeline capacity additions; facility construction plans; and
treatment under governmental regulatory regimes.

By their nature, such forward-looking statements are subject to a number
of risks, uncertainties and assumptions, which could cause actual results or
other expectations to differ materially from those anticipated, including
those material risks discussed in our annual information form under “Risk
Factors” and our Management’s Discussion and Analysis for the year ended
December 31, 2010, under the headings “Risk Factors” and “Forward-Looking
Information.” The material assumptions are disclosed in the Management’s
Discussion and Analysis for the year ended December 31, 2010, under the
headings “Dividends”, “Capital Expenditures”, “Asset Retirement Obligation”,
“Liquidity and Capital Resources”, “Critical Accounting Estimates”, “New
Accounting Pronouncements” and “Outlook”, and in Management’s Discussion and
Analysis for the period ended September 30, 2011, under the headings
“Dividends”, “Capital Expenditures”, “Decommissioning Liability”, “Liquidity
and Capital Resources”, “Critical Accounting Estimates” and “Outlook”. The
actual results could differ materially from those anticipated in these
forward-looking statements as a result of the material risks set forth under
the noted headings, which include, but are not limited to: financial risk of
marketing reserves at an acceptable price given market conditions;
volatility in market prices for oil and natural gas; delays in business
operations, pipeline restrictions, blowouts; the risk of carrying out
operations with minimal environmental impact; industry conditions including
changes in laws and regulations including the adoption of new environmental
laws and regulations and changes in how they are interpreted and enforced;
uncertainties associated with estimating oil and natural gas reserves and
Discovered Petroleum Initially in Place; economic risk of finding and
producing reserves at a reasonable cost; uncertainties associated with
partner plans and approvals; operational matters related to non-operated
properties; increased competition for, among other things, capital,
acquisitions of reserves and undeveloped lands; competition for and
availability of qualified personnel or management; incorrect assessments of
the value of acquisitions and exploration and development programs;
unexpected geological, technical, drilling, construction and processing
problems; availability of insurance; fluctuations in foreign exchange and
interest rates; stock market volatility; failure to realize the anticipated
benefits of acquisitions; general economic, market and business conditions;
uncertainties associated with regulatory approvals; uncertainty of
government policy changes; uncertainties associated with credit facilities
and counterparty credit risk; and changes in income tax laws, tax laws,
crown royalty rates and incentive programs relating to the oil and gas
industry.

A barrel of oil equivalent (“boe”) is based on a conversion rate of six
thousand cubic feet of natural gas to one barrel of oil.

Additional information on these and other factors that could affect
Crescent Point’s operations or financial results are included in Crescent
Point’s reports on file with Canadian securities regulatory authorities.
Readers are cautioned not to place undue reliance on this forward-looking
information, which is given as of the date it is expressed herein or
otherwise and Crescent Point undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new
information, future events or otherwise, unless required to do so pursuant
to applicable law.

Crescent Point is a conventional oil and gas producer with assets
strategically focused in properties comprised of high-quality, long-life,
operated light and medium oil and natural gas reserves in United States and
Canada.

For further information:

ON CRESCENT POINT ENERGY CORP. PLEASE CONTACT:

Greg Tisdale, Chief Financial Officer, or Trent Stangl, Vice President
Marketing and Investor Relations.

        Telephone: +1(403)693-0020
        Toll-free (US & Canada): 888-693-0020
        Fax: +1(403)693-0070
        Website:  http://www.crescentpointenergy.com
        ir@crescentpointenergy.com

Crescent Point shares are traded on the Toronto Stock Exchange under the
symbol CPG.

        Crescent Point Energy Corp.
        Suite 2800, 111-5th Avenue S.W.
        Calgary, Alberta T2P 3Y6

SOURCE Crescent Point Energy Corp.


Source: PR Newswire