Crescent Point Energy completes $575 million offering of shares

/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES./

CALGARY , Nov. 3 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) has closed its recently announced equity offering. The underwriters exercised their over-allotment option in full, and accordingly, a total of 15,444,500 shares have been issued at a price of $37.25 per share for aggregate gross proceeds of $575.3 million . The syndicate of underwriters was co-led by BMO Capital Markets, Scotia Capital Inc. and CIBC, and included 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 will be for the month of November 2009 , which will be paid on December 15, 2009 .

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

    Shares of Crescent Point 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): [phone], Fax: [phone], website: www.crescentpointenergy.com