Crescent Point Energy Completes CDN$375 Million Bought Deal Financing

CALGARY, Alberta, October 13, 2010 - 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 CDN$36.60 per
share for gross proceeds of approximately CDN$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: 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:
+1-403-693-0020, Toll free (US & Canada): 888-693-0020, Fax: +1-403-693-0070,
Website: www.crescentpointenergy.com

For further information: 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: +1-403-693-0020, Toll free (US & Canada): 888-693-0020, Fax: +1-403-693-0070