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Last C$0.08 CAD
Change Today -0.01 / -11.11%
Volume 38.0K
CWV On Other Exchanges
As of 3:31 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

crown point energy inc (CWV) Snapshot

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09/12/14 - C$0.36
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crown point energy inc (CWV) Details

Crown Point Energy Inc., a junior oil and gas company, engages in the acquisition, exploration, development, and production of oil and gas properties in Argentina. The company has 25.78% working interests in 3 exploitation concessions covering approximately 126,000 net acres located in the Austral basin in the province of Tierra del Fuego. It also has 100% working interest in the Cerro de Los Leones exploration concession covering 306,646 acres located in the Neuquén basin in the province of Mendoza. The company was formerly known as Crown Point Ventures Ltd. and changed its name to Crown Point Energy Inc. in July 2012. Crown Point Energy Inc. was incorporated in 1966 and is headquartered in Calgary, Canada.

Founded in 1966

crown point energy inc (CWV) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$258.7K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$218.5K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: C$248.6K
Executive Vice President of Argentina Operati...
Total Annual Compensation: C$238.2K
Vice-President of Finance & Administration - ...
Total Annual Compensation: C$234.1K
Compensation as of Fiscal Year 2014.

crown point energy inc (CWV) Key Developments

Crown Point Energy Inc. Provides Operational Update at 25.78%-Owned Tierra Del Fuego Las Violetas Concession and 100% Owned Cerro De Los Leones Concession in the Neuquén Basin

Crown Point Energy Inc. provided an operational update of its ongoing development, exploration and recompletion program at its 25.78%-owned Tierra del Fuego (TDF) Las Violetas concession and its 100% owned Cerro de Los Leones concession in the Neuquén Basin. Tierra del Fuego Operational Update: Additional Three Well Drilling Program Completed in Las Violetas Crown Point has completed its program to drill three additional wells on its Las Violetas concession: LV-112 was completed on June 4, 2015. During 41 hours of production testing from the Springhill formation, the well flowed gas for 21 hours through a 12mm choke at an average gross rate of 4.85 million cubic feet ("mmcf") per day, plus liquids at an average gross rate of 80.5 barrels (bbls) of oil per day (bopd) and 3.6 barrels of water per day at a flowing well head pressure of 87 kg/cm 2. Then, for 20 hours of subsequent production testing through a 16mm choke, the well flowed gas at an average gross rate of 6.81 mmcf per day, plus liquids at an average gross rate of 79.8 bopd and 15.5 barrels of water per day with a flowing well head pressure of 69 kg/cm 2. The cumulative volumes recovered during testing were 13.7 mmcf of gas, 187.8 bbls of oil and 44.6 bbls of water. The well was tied into existing Las Violetas facilities and placed on production on June 27, 2015. LFE-1001 was fracture stimulated in July 2015 and is awaiting post frack clean out. SLx-1004, a one kilometre northern offset to exploration well SL x-1003, was cased as a potential Springhill gas well with an estimated seven metres of potential gas pay. The well has been slated for fracture stimulation in August 2015. Las Violetas Puesto Quince Well Exploration Well Test PQ x-1001, the second exploration well, was fracture stimulated in May 2015 and flowed frack fluid, water and 40° API oil with oil cuts ranging between one and 40%. During a six day swab production test of the Springhill formation, the well produced a total of 3,475 bbls of fluid comprised of 324 bbls of oil (9% of total volume recovered), 1,199 bbls of formation water (34.5% of total volume recovered) and 1,952 bbls of treatment fluid (56.2% of total volume recovered). During testing, the well produced oil, formation water and fracture stimulation fluid at an average gross rate of 54 bopd, 200 bbls per day and 325 bbls per day, respectively. Pumping equipment and production tanks are being installed for a long term production test which is expected to commence in August 2015. Los Flamencos Eight Development Well Drilling Program: Crown Point provided an update on the final four wells of its eight development well drilling program in its Las Violetas concession: LF-1028, the fifth development well, suffered mechanical problems while running casing, and remedial work is planned for the third quarter of 2015, after which it is anticipated that the well will be completed and tested. LFE-1003, the sixth development well, was recently fracture stimulated and is undergoing post frack clean out. LF-1029, the seventh development well, has been fracture stimulated and is waiting for a post frack coiled tubing clean out. The final well, LFE-1004, will be completed and production tested in the third quarter of 2015.

Crown Point Energy Appoints Marisa Tormakh as Vice President, Finance and Chief Financial Officer, Effective September 1, 2015

Crown Point Energy Inc. announced that Marisa Tormakh has been appointed Vice President, Finance and Chief Financial Officer (CFO) of Crown Point effective September 1, 2015. Ms. Tormakh replaces Arthur Madden who is stepping down from that role effective August 31, 2015. Since 2009, Ms. Tormakh, a resident of Argentina, has served as financial coordinator at Grupo ST S.A. and Director of Capital Markets at Banco Servicios y Transactiones S.A.

Crown Point Energy Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the year of 2015

Crown Point Energy Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported oil and gas revenue of $4,042,683 compared to $3,443,793 a year ago. Net loss from continuing operations was $1,647,320 or $0.01 per share compared to $1,726,954 or $0.02 per share a year ago. Net loss was $1,647,320 or $0.01 per share compared to $1,836,705 or $0.02 per share a year ago. Funds flow used by continuing operations was $78,631 or $0.00 per share compared to $600,014 or $0.01 per share a year ago. The company estimates a total of $11.5 million of capital expenditures for 2015, comprised of $9 million on the TDF concessions and $2.5 million on the CLL concession, of which the company spent $3.1 million and $0.1 million during first quarter of 2015, respectively.


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