Crescent Point Energy completes acquisition of Ryland Oil Corporation

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CALGARY, Aug. 20 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) today closed the previously announced acquisition of Ryland Oil Corporation ("Ryland") by way of plan of arrangement (the "Arrangement"). With completion of the Arrangement, Crescent Point further solidifies its position in the Flat Lake Bakken play in southeast Saskatchewan and increases its strategic undeveloped land position in North Dakota, United States.

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: 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