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(2)    The definitions of the various categories of reserves are those set out in NI 51-101 and the COGE Handbook.

The Company's proved plus probable ("2P") gross reserves as of December 31, 2024, as evaluated by Sproule, were 50,517 MBOE compared to 7,813 MBOE as evaluated by Sproule in their report of December 31, 2023. The increase in 2P reserves is attributable to the previously disclosed acquisition of a 100% working interest in the Koluel Kaike and Piedra Clavada concessions which closed on November 1, 2024, partially offset by 2024 production of 677 MBOE.

The estimated before tax net present value of the Company's 2P reserves as of December 31, 2024 (discounted at 10%) was $358.9 million, compared with $74.6 million as of December 31, 2023. The increase in the before tax net present value is attributable to the aforementioned acquisitions coupled with an increase in domestic oil and gas prices as a consequence of the ongoing normalization of the market in Argentina.

Approximately 44% of the Company's before tax net present value of 2P reserves (discounted at 10%) is categorized as "developed producing" and the before tax net present value of future net revenues associated with the Company's total proved reserves (discounted at 10%) represents approximately 62% of the Company's before tax net present value of future net revenues associated with all the Company's 2P reserves. Crude oil accounts for approximately 97% of the Company's 2P reserves (gross) as of December 31, 2024 compared with approximately 83% as of December 31, 2023, whereas natural gas and natural gas liquids account for the remaining 3% of the Company's 2P gross reserves as of December 31, 2024 compared with 17% as of December 31, 2023.
The following table sets forth, for each product type, the pricing assumptions used by Sproule in estimating the reserves data disclosed herein as of December 31, 2024.

Further details of the evaluation of the Company’s reserves as of December 31, 2024 will be contained in the Company’s NI 51-101 filings for the year ended December 31, 2024, which will be filed with Canadian securities regulatory authorities in due course and will be made available under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.crownpointenergy.com.

About Crown Point

Crown Point Energy Inc. is an international oil and gas exploration and development company headquartered in Buenos Aires, Argentina, incorporated in Canada, trading on the TSX Venture Exchange and operating in Argentina. Crown Point's exploration and development activities are focused in four producing basins in Argentina, the Austral basin in the province of Tierra del Fuego, the San Jorge Basin in the province of Santa Cruz and the Neuquén and Cuyo 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.

Oil and Gas Advisories

Barrels of oil equivalent ("BOE") may be misleading, particularly if used in isolation. A BOE conversion ratio of six thousand cubic feet (6 Mcf) to one barrel (1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of crude oil in Argentina as compared to the current price of natural gas in Argentina is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

"MBOE" means thousands of barrels of oil equivalent. “Mcf” means thousand cubic feet. “MMcf” means million cubic feet. "bbl" means barrel. "Mbbl" means thousands of barrels. "NGL" means natural gas liquids.   "Btu/Scf" means British thermal unit per standard cubic foot.

The reserves estimates contained in this news release represent our gross and net reserves as of December 31, 2024. Gross reserves are defined under NI 51-101 as our working interest (operating or non-operating) share before deduction of royalties and without including any of our royalty interests. Net reserves are defined under NI 51-101 as our working interest (operating or non-operating) share after deduction of royalty obligations, plus our royalty interests in reserves. It should not be assumed that the present worth of estimated future net revenues presented in the tables above represents the fair market value of the reserves. There is no assurance that the forecast price and cost assumptions will be attained and variances could be material. The recovery and reserves estimates of our crude oil, natural gas liquids and natural gas reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual crude oil, natural gas and natural gas liquids reserves may be greater than or less than the estimates provided herein.

All future net revenues are estimated using forecast prices arising from the anticipated development and production of our reserves, net of the associated royalties, operating costs, development costs, and abandonment and reclamation costs and are stated prior to provision for interest and general and administrative expenses. Future net revenues have been presented on a before tax basis.

The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation.

Forward Looking Statements

Certain information set forth in this document is considered forward-looking information, and necessarily involves risks and uncertainties, certain of which are beyond Crown Point’s control. Forward-looking information herein includes: the Company's intention to participate with the TDF joint venture in obtaining an extension to the primary term (expiring August 2026) of the TDF concessions; and the forecast pricing and inflation rate assumptions set forth herein. In addition, information relating to our reserves is deemed to be forward-looking information, as it involves the implied assessment, based on certain estimates and assumptions, that the reserves described can be economically produced in the future. Such risks include but are not limited to: the risk that the TDF joint venture is not able to obtain an extension to the primary term of the TDF concessions at all or on acceptable terms and/or that the receipt of the extension is delayed; the risks that pandemics and outbreaks of communicable disease pose to the oil and gas industry generally and our business in particular; risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, including the risk that the infrastructure on which we rely to produce, transport and sell our products breaks down and requires parts that are not readily available or repairs that cannot be made on a timely basis, and which impair our ability to operate and/or sell our products; risks associated with operating in Argentina, including risks of changing government regulations (including the adoption of, amendments to, or the cancellation of government incentive programs or other laws and regulations relating to commodity prices, taxation, currency controls and export restrictions, in each case that may adversely impact Crown Point), risks that new government initiatives will not have the consequences the Company believes (including the benefits to be derived therefrom), expropriation/nationalization of assets, price controls on commodity prices, inability to enforce contracts in certain circumstances, the potential for a hyperinflationary economic environment, the imposition of currency controls, risks associated with a default on Argentine government debt, and other economic and political risks; volatility of commodity prices; currency fluctuations; imprecision of reserve estimates; environmental risks; competition from other producers; inability to retain drilling services; incorrect assessment of value of acquisitions and failure to realize the benefits therefrom; delays resulting from or inability to obtain required regulatory approvals; the lack of availability of qualified personnel or management; stock market volatility; inability to access sufficient capital from internal and external sources; the need to shut-in, flare and/or curtail production as a result of a lack of infrastructure and/or damage to existing infrastructure; and economic or industry condition changes. Actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Crown Point will derive therefrom. With respect to forward-looking information contained herein, the Company has made assumptions regarding, among other things: the ability of the TDF joint venture to obtain an extension to the primary term of the TDF concessions on acceptable terms and the timing thereof; the impact of increasing competition; the general stability of the economic and political environment in which the Company operates, including operating under a consistent regulatory and legal framework in Argentina; future oil, natural gas and NGL prices (including the effects of governmental incentive programs and government price controls thereon);trucking costs; the ability and willingness of OPEC+ nations and other major producers of crude oil to balance crude oil production levels and thereby sustain higher global crude oil prices; that our joint venture partners and the operators of our concessions that we do not operate will honour their contractual commitments in a timely fashion and will not become insolvent or bankrupt; the impact of inflation rates in Argentina and the devaluation of the Argentine peso against the USD on the Company; the timely receipt of any required regulatory approvals; the ability of the Company to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the costs of obtaining equipment and personnel to complete the Company’s capital expenditure program; the ability of the operator of the projects which the Company has an interest in to operate the field in a safe, efficient and effective manner; the ability of the Company to obtain financing on acceptable terms when and if needed and continue as a going concern; the ability of the Company to service its debt repayments when required; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration activities; the timing and costs of pipeline, storage, transportation and facility repair, construction and expansion and the ability of the Company to secure adequate product transportation; costs of operational activities in Argentina; currency, exchange, inflation and interest rates; the regulatory framework regarding royalties, commodity price controls, currency controls, import/export matters, taxes and environmental matters in Argentina; and the ability of the Company to successfully market its oil and natural gas products. Additional information on these and other factors that could affect Crown Point are included in reports on file with Canadian securities regulatory authorities, including under the heading “Risk Factors” in the Company’s most recent annual information form, and may be accessed through the SEDAR+ website (www.sedarplus.ca). Furthermore, the forward-looking information contained in this document are made as of the date of this document, and Crown Point does not undertake any obligation to update publicly or to revise any of the included forward looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities law. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

CONTACT: For inquiries please contact: Gabriel Obrador President & CEO Ph: (403) 232-1150 Crown Point Energy Inc. gobrador@crownpointenergy.com Marisa Tormakh Vice-President, Finance & CFO Ph: (403) 232-1150 Crown Point Energy Inc. mtormakh@crownpointenergy.com