/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
ANY UNITED STATES NEWS SERVICES/
CALGARY, Oct. 26 /CNW/ - Crescent Point Energy Trust ("Crescent Point" or
the "Trust") has completed an initial evaluation of the October 25, 2007
royalty announcement by the Province of Alberta. Crescent Point has concluded
that the royalty changes will have minimal impact on the Trust's current
production and operations. The Trust continues to work on its 2008 capital
expenditure plans and will review the government's royalty announcement in
more detail before committing to capital expenditures in the province of
Alberta in 2008.
"Almost 80 percent of Crescent Point's current production is sourced from
the province of Saskatchewan and this will minimize the impact of the Alberta
royalty changes on our Trust," says Scott Saxberg, President and CEO of
Crescent Point. "We have an inventory of more than 1,000 low risk development
drilling locations in Saskatchewan, including the Viewfield Bakken resource
play, on which we can focus in 2008 and in the coming years."
Crescent Point anticipates that the Alberta royalty announcement will
affect the Trust's corporate royalty rates on existing production by
approximately one percent. While the impact on existing production is minor,
the Trust will study the royalty announcement in more detail before committing
future capital to the province.
This news release is not for dissemination in the United States or to any
United States news services. The trust units 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 income trust with assets
strategically focused in properties comprised of high quality, long life,
operated, light oil and natural gas reserves in western Canada.
CRESCENT POINT ENERGY TRUST
President and Chief Executive Officer
Trust units of Crescent Point are traded on the Toronto Stock Exchange
under the symbol CPG.UN.
For further information:
For further information: Crescent Point Energy Trust, c/o Crescent Point
Resources Inc., Trent Stangl, Manager Marketing and Investor Relations, Greg
Tisdale, Chief Financial Officer, Telephone: (403) 693-0020, Telecopier: (403)
693-0070, Toll-free (Canada & United States) 1-888-693-0020