CRESCENT POINT ENERGY COMPLETES $375 MILLION BOUGHT DEAL FINANCING

CALGARY, Oct. 13 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) has closed its recently announced bought deal financing. A total of 10,250,000 Crescent Point shares have been issued at a price of $36.60 per share for gross proceeds of approximately $375 million. The syndicate of underwriters was co-led by CIBC and BMO Capital Markets, 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.

The first dividend in which these shares will be entitled to participate is expected to be for the month of October 2010, which is expected to be paid on November 15, 2010.

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 western Canada.

Scott Saxberg,

President and Chief Executive Officer

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

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