Crescent Point Energy Announces Partial Exercise of Over-Allotment Option Related to Bought Deal Financing

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

CALGARY, Nov. 29, 2012 /CNW/ - Crescent Point Energy Corp. ("Crescent Point") (TSX: CPG) announces today that, under its bought deal financing that closed on November 21, 2012, the underwriters have exercised in part their over-allotment option to purchase an additional 1,250,000 Crescent Point shares at the offering price of $40.00 per share.

Including this option exercise, the bought deal resulted in a total of 20,000,000 Crescent Point shares issued for total gross proceeds of $800 million. The net proceeds of the offering are expected to be used to fund a portion of the previously announced acquisition of Ute Energy Upstream Holdings LLC, as well as a number of consolidation acquisitions in the Company's core Beaverhill Lake and Shaunavon areas that closed in the third and fourth quarters of 2012.

The syndicate of underwriters was co-led by BMO Capital Markets, RBC Capital Markets and CIBC and included Scotiabank, 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 option will be eligible to receive the dividend for the month of November 2012, which is expected to be paid on December 17, 2012.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements. All forward-looking statements are based on Crescent Point's beliefs and assumptions based on information available at the time the assumption was made. In particular, this press release contains forward-looking statements pertaining to the anticipated use of the proceeds of the bought deal and the expected payment of future dividends. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. 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 report should not be unduly relied upon. These statements speak only as of the date of this press release.

Additional information on these and other factors that could affect Crescent Point's operations or financial results are included in Crescent Point's reports on file with Canadian securities regulatory authorities. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed herein or otherwise and Crescent Point undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required to do so pursuant to applicable law.

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.

CRESCENT POINT ENERGY CORP.

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

SOURCE: Crescent Point Energy Corp.

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: [phone]
Toll free (US & Canada): 888-693-0020
Fax:    [phone]
Website: www.crescentpointenergy.com