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Last C$0.18 CAD
Change Today 0.00 / 0.00%
Volume 103.0K
As of 3:47 PM 04/21/15 All times are local (Market data is delayed by at least 15 minutes).

crown point energy inc (CWV) Snapshot

Open
C$0.18
Previous Close
C$0.18
Day High
C$0.18
Day Low
C$0.18
52 Week High
04/23/14 - C$0.91
52 Week Low
01/28/15 - C$0.12
Market Cap
28.8M
Average Volume 10 Days
146.5K
EPS TTM
C$-0.07
Shares Outstanding
164.5M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CROWN POINT ENERGY INC (CWV)

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crown point energy inc (CWV) Details

Crown Point Energy Inc., a junior oil and gas company, is engaged in the acquisition, exploration, development, and production of petroleum and natural gas properties in Argentina. It has 25.78% working interests in Tierra del Fuego Concessions that covers an area of approximately 489,000 acres in the Tierra del Fuego region of the Argentina Austral basin. The company also owns 50% working interests in El Valle Area, which covers an area of approximately 15,864 acres in the Golfo San Jorge basin; and 100% working interests in Cañadón Ramirez Concession covering an area of approximately 6,325 acres located in the Golfo San Jorge basin. In addition, it has 100% working interests in Cerro de Los Leones Permit that covers an area of approximately 306,646 acres; and 100% working interests in Laguna de Piedra Permit covering an area of approximately 246,354 acres located in the Neuquén basin. 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, Executive Vice Presi...
Total Annual Compensation: C$248.6K
Executive Vice President of Argentina Operati...
Total Annual Compensation: C$238.2K
Vice-President of Finance and Administration ...
Total Annual Compensation: C$234.1K
Compensation as of Fiscal Year 2014.

crown point energy inc (CWV) Key Developments

Crown Point Provides Operational Update on Tierra del Fuego Concessions in Argentina

Crown Point Energy Inc. provided an operational update regarding the results of its ongoing development, exploration and recompletion program at its 25.78%-owned Tierra del Fuego ("TDF") Las Violetas concession in Argentina. The company also provided updates on other TDF operations, including the recent commencement of an additional three well drilling program on the Las Violetas concession; plans to acquire additional 3-D seismic on the Las Violetas, Rio Cullen and Angostura concessions; and plans to commence a fracture stimulation program targeting select wells drilled during the 2014 and early-2015 exploration and development drilling program. As noted in prior disclosures, four (LF-1008, LF-1027, LF-1024 and LFE-1002) of the first five development wells drilled on the Los Flamencos gas pool (located in the Las Violetas concession), were placed on production during the fourth quarter of 2014. The fifth development well, LF-1028, was cased as a potential Springhill formation gas well but suffered mechanical problems while running casing. Remedial work will be required to evaluate the Springhill interval and is planned for the second quarter of 2015, after which it is anticipated that the well will be completed and tested. LFE-1003, the sixth development well, was spud on December 15, 2014, drilled to a total depth of 2,139 metres and cased on December 30, 2014 as a potential Springhill formation gas well with approximately seven metres of potential gross gas pay. Completion operations commenced on January 5, 2015 and were finalized one week later. The Springhill interval tested dry. Fracture stimulation will be required to obtain definitive flow rate information and is planned for the second quarter of 2015. LFE-1003 is located on the eastern extension of the Los Flamencos gas pool. LF-1029, the seventh development well, was spud on January 6, 2015, drilled to a total depth of 2,237 metres and cased on January 24, 2015 as a potential Springhill formation gas well with approximately 13 metres of potential gross gas pay. While drilling below the Springhill, the well encountered approximately 14 metres of potential gross gas pay in two separate fractured intervals within the Tobifera formation. Completion operations are due to commence shortly with results expected in the second quarter of 2015. LF-1029 is located in the main body of the Los Flamencos gas field. LFE-1004, the final development well in the eight development well program, was spud on February 8, 2015, drilled to a total depth of 2,253 metres and cased as a potential gas well with between approximately four to 14 metres of potential gross gas pay in the basal Pampa Rincon formation and approximately 31 metres of potential gross gas pay in the Tobifera formation. Subsequent log and sample analysis indicated that both gas-bearing intervals are highly fractured. It is anticipated that the well will be completed and production tested in the second quarter of 2015. The Springhill formation was not encountered in this well, likely due to localized minor faulting at this location. LFE- 1004 was drilled on the eastern extension of the Los Flamencos gas field.

Crown Point Energy Inc. Provides Positive Preliminary Exploration Results, Updates Operations and Comments on Argentina's Energy Prices

Crown Point Energy Inc. announced positive preliminary results for the second of two oil and gas exploration wells at its 25.78% owned Tierra del Fuego concessions in Argentina. Crown Point also provided other updates, including that its initial TDF exploration well is on production and that drilling has commenced on yet another TDF development well. Further, Crown Point provided a comment on Argentina's domestic oil and natural gas prices. Preliminary testing, together with log and sample analysis, indicates that the second TDF exploration well is a new pool discovery well with hydrocarbon saturation in the Springhill formation. However, fracture stimulation will be required to obtain definitive flow rate information. Fracture stimulation is planned for the first quarter of 2015. As the Springhill formation is a tight formation, fracture stimulation is commonly required to stimulate production. Crown Point anticipates that additional drilling on the structure will be undertaken following fracture stimulation on the discovery well. The well, called PQ x-1001, is located approximately 5 kilometres from Company-owned gas and oil processing facilities at Rio Chico. PQ x-1001 was completed in two stages during the last 10 days in December. On December 22nd a 6.5 metre interval was perforated to test the basal portion of the Springhill formation. During the following two days the well was swabbed, recovering fluids at an average gross rate of 19.5 barrels per day comprised of a mixture of 50% oil and 50% load fluid. On December 29th, a 5.5 metre interval was perforated to test the upper portion of the Springhill formation. The well subsequently swabbed dry and was shut in for 60 hours, after which completion fluid with oil shows were recovered. As previously disclosed, PQ x-1001 was drilled to a total depth of 1,939 metres and cased on December 8, 2014 with approximately 14 metres of gross pay in the Springhill sandstones formation. PQ x-1001 was drilled to evaluate the Springhill formation over the 50 square kilometre 3-D seismic mapped Puesto Quince structure. The first of the two TDF exploration wells, SL x-1003, was placed on production on December 30, 2014. Test results for this new pool discovery well were announced on December 9, 2014. SL x-1003 is approximately 2.6 kilometres from the Company-owned San Luis gas plant and has been tied in to that plant. LF-1029, the sixth well in an eight-well development drilling program, was spudded on January 6th and is currently being drilled. Completion is anticipated by the end of January. LF-1029 is located in the main body of the Los Flamencos gas pool. LFE 1003, the fifth development well, has been drilled to a total depth of 2,139 metres and was cased on December 31 as a potential Springhill formation gas well with approximately 7 metres of gross pay. The well is located on the eastern extension of the Los Flamencos gas field. Completion operations are currently underway with results expected later this month. LFE 1002, the fourth development well, was tied into production in December. Test results from this well were disclosed on November 21, 2014.

Crown Point Energy Inc. Appoints Pablo Bernardo Peralta and Gabriel Dario Obrador as Board Members

Crown Point Energy Inc. appointed two new board members. The two new directors, both from Argentina, are Pablo Bernardo Peralta, President of Liminar Energia S.A., and Gabriel Dario Obrador, President of GORC S.A.

 

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Price/Cash Flow 4.3x
TEV/Sales 1.0x
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