Crown Point closes acquisition of 35.67% of Chubut

Executive Summary

• Crown Point Energy Inc., via its subsidiary Crown Point Energia SA, closed the purchase of a 35.6706% interest in the El Tordillo, La Tapera and Puesto Quiroga concessions (the “Chubut concessions”) from Pampa Energía SA for $2.0 M plus a $300 k third‑party fee.
• Contingent consideration of up to $3.5 M may be payable to Pampa Energía SA after closing, subject to customary adjustments.
• A further 59.32947% interest in the same concessions is slated to close later in Q4 from Tecpetrol SA and YPF SA, pending regulatory approvals and financing arrangements.

Key Details

• Acquired Interest: 35.6706% of El Tordillo, La Tapera and Puesto Quiroga hydrocarbon exploitation concessions in Chubut, Argentina.
• Purchase Price Paid to Third Party: $300,000 (U.S.) for the right to purchase Pampa’s participating interest.
• Cash Paid to Pampa Energía SA: $2,000,000 (U.S.), subject to customary closing adjustments.
• Contingent Consideration: Up to $3,500,000 (U.S.) payable to Pampa Energía SA after closing, based on agreed milestones/conditions.
• Future Acquisition: Additional 59.32947% interest to be acquired from Tecpetrol SA and YPF SA in Q4 2026; completion subject to TSX Venture Exchange approval, other regulatory consents, and financing.
• Financing Status: Crown Point is arranging financing to fund the remaining purchase price for the upcoming acquisition.
• Reference Press Releases: Prior announcements on June 9 2025 and September 30 2025 provide additional context.

Notable Quotes

(No direct quotes were provided in the release.)