Crescent Point Energy announces closing of bought deal financing

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

CALGARY, Aug. 30, 2012 /CNW/ - Crescent Point Energy Corp. ("Crescent Point") (TSX: CPG) has closed its recently announced bought deal financing and the associated over-allotment option granted to the underwriters. A total of 15,433,000 Crescent Point shares have been issued at a price of $41.00 per share for aggregate gross proceeds of approximately $633 million.

The syndicate of underwriters was co-led by BMO Capital Markets, CIBC and Scotiabank, and included RBC Capital Markets, TD Securities Inc., FirstEnergy Capital Corp., National Bank Financial Inc., GMP Securities L.P., Macquarie Capital Markets Canada Ltd. and Peters & Co. Limited.

The shares issued under the offering will be eligible to receive the dividend for the month of August 2012, which is expected to be paid on September 17, 2012.

Certain statements contained in this press release relating to the expected payment date of Crescent Point's August dividend constitute forward-looking statements. All such forward-looking statements are based on Crescent Point's beliefs and assumptions based on information available at the time the assumption was made. Crescent Point believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this release should not be unduly relied upon. These statements speak only as of the date of this press release or, if applicable, as of the date specified in those documents specifically referenced herein.

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 been 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

SOURCE: Crescent Point Energy Corp.

ON CRESCENT POINT ENERGY CORP. PLEASE CONTACT:

Greg Tisdale, Chief Financial Officer, or Trent Stangl, Vice President Marketing and Investor Relations.
Telephone: [phone]  Toll free (US & Canada): 888-693-0020 
Fax:    [phone]        Website: www.crescentpointenergy.com

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