Crown Point Announces Unaudited Financial and Operating Results for the Three Months and Year Ended December 31, 2025 and Announces Retirement of Board Chair

CALGARY, Alberta, March 11, 2026 (GLOBE NEWSWIRE) — TSX-V: CWV: Crown Point Energy Inc. (“Crown Point“, the “Company” or “we“) today announced its unaudited financial and operating results for the three months and year ended December 31, 2025. All dollar figures are expressed in United States dollars (“USD”) unless otherwise stated.

In the following discussion, the three months and the year ended December 31, 2025 may be referred to as “Q4 2025” and “2025”, respectively. The comparative three months and year ended December 31, 2024 may be referred to as “Q4 2024” and “2024”, respectively.

RETIREMENT OF BOARD CHAIR

Gordon Kettleson, the Chair of Crown Point’s board of directors (“Board“), has retired from his role as a director and Board Chair. Mr. Kettleson is a founder of the Company and has served as a director since 2001. At times, he has also served as the Company’s President, CEO and CFO. Crown Point’s Board wishes to acknowledge the significant contributions that Gord has made to the Company since its founding and thanks Gord for his wise counsel during his tenure.

Q4 2025 SUMMARY

During Q4 2025, the Company:

• Reported net cash used in operating activities of $4.5 million and funds flow used in operating activities of $4.7 million;
• Earned $34.6 million of oil and natural gas sales revenue on total average daily sales volumes of 6,918 BOE per day. The increase in comparison to previous quarters is due to the oil and natural gas sales volumes from the Chubut Concessions (as defined below) since the closing dates on October 1, 2025 (35.7% interest) and December 1, 2025 (59.3% interest);
• Received an average of $2.85 per mcf for natural gas and $58.10 per bbl for oil;
• Reported an operating netback of $5.91 per BOE¹;
• Obtained $66.6 million and repaid $4.9 million of working capital loans and discounted promissory notes;
• Reported loss before taxes of $9.1 million and a net loss of $5.7 million;
• Reported a working capital deficit² of $71.8 million; and
• Completed the acquisition of a 95% operating interest in the El Tordillo, La Tapera and Puesto Quiroga hydrocarbon exploitation concessions (the “Chubut Concessions“) for approximately $57.1 million of cash at closing and contingent consideration liability estimated at $2.1 million (the “Acquisition“). In connection with the Acquisition, the Company also acquired 4.2% of the outstanding shares of Terminales Marítimas Patagónicas S.A. for cash consideration of $1.8 million.

SUBSEQUENT EVENTS

Subsequent to December 31, 2025, the Company:

• Issued $30 million principal amount of secured fixed-rate Series IX Notes, of which (i) $24.6 million principal amount of Series IX Notes were issued for cash consideration, payable in Pesos, and (ii) $5.4 million principal amount of Series IX Notes were issued in exchange for the surrender and cancellation of $5.4 million principal amount of Series V Notes at an exchange ratio of US$100 principal amount of Series IX Notes for every US$100 principal amount of Series V Notes.
• Repaid $1.8 million of principal installments on the Series V Notes and $11.58 million on working capital loans and discounted promissory notes.
• Paid $2.5 million to Tecpetrol to satisfy the outstanding balance owing on the final purchase price adjustment for the Acquisition.

OPERATIONAL UPDATE

Chubut Concessions

During Q4 2025, El Tordillo concession oil production averaged 4,244 (net 2,382) bbls of oil per day, La Tapera concession oil production averaged 43 (net 24) bbls of oil per day and Puesto Quiroga concession oil production averaged 172 (net 94) bbls of oil per day. Natural gas production from the El Tordillo concession averaged 2,120 (net 1,302) mcf per day.

Santa Cruz Concessions

During Q4 2025, Piedra Clavada concession oil production averaged 1,822 bbls of oil per day and Koluel Kaike concession oil production averaged 818 bbls of oil per day. During Q4 2025, the Company performed a workover on an oil well.

Tierra del Fuego Concessions (“TDF Concessions”)

During Q4 2025, San Martin oil production averaged 354 (net 171) bbls of oil per day; Las Violetas concession natural gas production averaged 7,749 (net 3,745) mcf per day and associated oil production averaged 186 (net 90) bbls of oil per day.

Mendoza Concessions

Oil production for Q4 2025 averaged 866 (net 433) bbls of oil per day from the CH Concession and 142 (net 71) bbls of oil per day from the PPCO Concession. During Q4 2025, the Company performed workovers on two oil producing wells in the CH Concession.

OUTLOOK

The Company’s capital spending for fiscal 2026 is budgeted at approximately $77 million, of which: $44.7 million is allocated to the Chubut Concessions for well workovers, facilities improvements and a drilling campaign comprised of 8 wells; $29 million is allocated to the Santa Cruz Concessions for well workovers, facilities improvements and a drilling campaign comprised of 5 wells; $1.3 million is allocated to the Mendoza Concessions for well workovers and facilities improvements; $1.2 million is allocated to the TDF Concessions for the anticipated extension fee; and $0.8 million is allocated to the Cerro de Los Leones Concession for testing of the gas bearing sandstone layers of the Neuquén Group.

SUMMARY OF FINANCIAL INFORMATION