Crescent Point Energy Announces Closing of Over-Allotment Option

CALGARY, Alberta, September 30, 2011 /PRNewswire/ --

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) announces that it has closed the sale of an additional 400,000 Crescent Point shares at a price of $43.50 per share, for gross proceeds of $17.4 million. The additional shares were exercised by the underwriters pursuant to the over-allotment option in connection with the Company's previously announced bought deal financing, which closed on September 21, 2011. Including the additional shares, the aggregate gross proceeds to the Company pursuant to the bought deal totals approximately $392.6 million. The syndicate of underwriters was co-led by BMO Capital Markets and CIBC, and included Scotia Capital Inc., RBC Capital Markets, FirstEnergy Capital Corp., TD Securities Inc., National Bank Financial Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd. and Peters & Co. Limited.

This news release is not for dissemination in the United States or to any United States news services.  The shares of Crescent Point have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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.

Scott Saxberg,
President and Chief Executive Officer

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

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

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