Crown Point Announces Operating and Financial Results for the Three and Nine Months Ended September 30, 2025 and USD 30 Million Loan to Fund Chubut Acquisition

Core Viewpoint - Crown Point Energy Inc. reported its financial and operational results for Q3 2025, highlighting significant increases in oil and natural gas sales revenue and the completion of a $30 million loan to fund acquisitions in the Chubut Concessions [1][5][9]. Financial Performance - The company reported net cash used by operating activities of $3.6 million in Q3 2025, compared to $1.8 million in Q3 2024 [5]. - Oil and natural gas sales revenue reached $21.7 million in Q3 2025, a substantial increase from $5.6 million in Q3 2024, driven by higher sales volumes from the Santa Cruz concessions [5][17]. - Average daily sales volumes were 4,182 BOE per day in Q3 2025, up from 1,410 BOE per day in Q3 2024 [5][17]. - The company reported a net loss of $4.8 million in Q3 2025, compared to a net loss of $2.1 million in Q3 2024 [5]. Operational Highlights - Oil production from the Piedra Clavada Concession averaged 1,929 bbls per day, while Koluel Kaike Concession averaged 976 bbls per day during Q3 2025 [12]. - The company performed workovers on five oil-producing wells in the Santa Cruz Concessions during the quarter [12]. - In the Tierra del Fuego Concession, oil production averaged 415 bbls per day, and natural gas production averaged 7,972 mcf per day [13]. Acquisition and Financing - Crown Point closed the acquisition of Pampa's 35.67% working interest in the Chubut Concessions for $4.8 million on October 1, 2025 [7]. - The company secured a $30 million loan from Liminar Energia S.A. to fund the acquisition of additional interests in the Chubut Concessions [9][10]. - A rights offering is planned to raise at least $30 million from shareholders, with Liminar indicating a commitment to purchase shares [11]. Capital Expenditures - The company's capital spending for fiscal 2025 is budgeted at approximately $10.6 million, with allocations for well workovers and improvements across various concessions [16].