Crown Point Ventures Ltd. Report that the third well (EV 36) of the ten well 2012 drilling program on its El Valle concession in the Golfo San Jorge Basin, Argentina has been cased as a potential multi zone oil well.

El Valle - Golfo San Jorge Basin

EV 36

Crown Point advises that the EV 36 has been logged and cased as a potential multi-zone oil well. Crown Point is paying 100% of the costs to drill, case, complete and equip the drilling program and will have an 80% interest in production from the wells. Logs and samples taken while drilling indicate a total of 9 net meters of potential pay in the Cañadon Seco and Caleta Olivia Formations. The drilling rig is being moved to the EV 32 location which is the fourth well to be drilled in this program.

Tags: Crown Point Ventures Ltd