Crescent Point Energy Corp. (“Crescent Point” or the “Company”)
(TSX:CPG) (NYSE:CPG) announced today that it has filed a letter to
shareholders addressing Cation Capital Inc.’s (“Cation”) nomination
of four individuals to stand for election to Crescent Point’s Board
of Directors (the “Board”) at its 2018 Annual General Meeting.
The Board strongly recommends that shareholders vote on the
WHITE proxy or Voting Instruction Form for all management nominees.
If you have already voted the WHITE proxy, no need to vote again.
Do not vote the Blue proxy or Voting Instruction Form sent to you
by Cation. Throw it out.
The last day to vote is Wednesday, May 2 at 10:00 a.m. (MDT). If
you have questions or need help voting, contact Kingsdale Advisors
at 1-888-518-6559 or contactus@kingsdaleadvisors.com. There is a
team standing by to help.
CHANGE THAT IS UNDERWAY, FROM A REFRESHED BOARD YOU CAN
TRUST.
Dear Fellow Shareholder,
You know it and your Crescent Point Board knows it: These are
difficult times for shareholders of Canadian oil and gas
producers.
We all wish things were different. But they’re not.
It’s easy for outsiders to complain about the environment we
find ourselves in and use hindsight to criticize past decisions
made, but hard to come up with a plan to address it. We have a plan
and a team with the discipline and patience to see it through.
That is the choice before you.
A plan that is working—from a refreshed board you can trust—or
disruption with Cation’s self-serving agenda.
You probably don’t know who Cation is. That’s because it didn’t
exist two weeks ago.
Cation was formed only four days before it suddenly showed up on
our doorstep, hours before the deadline for providing notice of
nominees under our advance notice by-law expired and demanded four
seats, or 40 percent of your board. The nominees are not additive
and do not enhance your board. Cation has no plan, no track record,
no prior engagement with us, no shareholder support and a low
investment, especially compared to their demands. Its proposition
is that after 12-18 months on the Board, the nominees may figure
something out.
Cation is the brainchild of Sandy Edmonstone and is a shell
company set up with one purpose: To run a costly and time consuming
proxy fight against your Company so he can get a quick pop in his
personal portfolio.
You might recognize Sandy’s name. He has a checkered track
record which is probably why he has assumed the Cation alias. A
“positively charged ion” led by a man associated with
negativity.
This is Sandy’s latest attempt to set himself up with a new
business after recently parting ways in his latest position as an
investment banker, by creating a quick win at your expense. He went
out and purchased shares in an attempt to legitimize his new
business and make himself the newly minted “activist” in town.
Unlike credible activists, he has conducted himself in a manner
that reveals his short-term, hidden agenda.
Unfortunately for Sandy, his ambush was not met with the
reaction he had hoped for. Shareholders are seeing through this
manipulation. There are no magic tricks here.
In contrast, your current refreshed 10-person Board, with seven
new independent directors since 2014, has been formed through a
robust and diligent recruiting and governance review process
tailored to continue with the disciplined execution of the real
plan that is underway and set to deliver results in the face of
tumultuous times.
In fact, the most recent three nominees that we have added to
our Board have brought expertise in capital markets, capital
allocation and asset portfolio management – the exact skills Sandy
says we need. As our new nominees have only joined within the last
0-15 months we look forward to continuing to see this expertise
translate into results for our shareholders.
Your vote matters and will decide the fate of your investment.
No matter how many shares you own and even if you have never voted
before, voting your WHITE proxy for your current Board is fast and
easy. Without exercising your vote, you will lose the momentum your
investment is making.
WE HAVE THE RIGHT PLAN AT THE RIGHT TIME.
The fact is we are at a critical point in the implementation of
our plan. The changes we have made need two ingredients to be
reflected in our share price: time and a board of directors with
the commitment and experience needed to see it through.
Sandy offers neither of these. He’s asking you to throw your
Company into chaos and trust him and his nominees to sort it out.
If the solution was so clear, why do the nominees need 18 months to
figure it out? Sandy bought low, suffered nothing and only has his
personal agenda in mind.
This is an example of opportunism at its worst – opportunism
that will put your investment at risk.
We – and, more importantly, the investment community – believe
that our current Board and management are on the right track. From
a business perspective, we are making great progress. Here are the
facts. In the last year alone, we have:
- Achieved exit guidance of 183,000 boe/d and growth target of 10
percent per share
- Increased productive capacity by ~1.2 million boe/d (70 percent
increase) led by new high-impact Uinta horizontal drilling
locations, which now total >1,700
- Entered into a new scalable light oil resource play by adding
>355,000 net acres in the emerging East Shale Duvernay
- Low entry cost of ~$315/acre
- Strategically targeted areas in the oil window based on thicker
pay, higher pressure and depth
- Cash neutral A&D program that increased our position in
core areas with three times the potential upside relative to our
non-core dispositions
- Organically replaced 152 percent of production with reserves
growth of over 4 percent per share
- Achieved record Proved Plus Probable reserves >1 billion boe
with 18 percent of organic reserves growth attributed to
waterflood
While we have made significant progress over the past year and
since the downturn, our actions and the value of our high-quality
assets are not fully reflected in our share price.
At least not yet.
And that’s why we are going to keep working hard on the changes
we are making to create value now.
CHANGE IS UNDERWAY & WORKING.
Following the collapse in global oil prices, we implemented a
detailed strategic plan to best position us to maximize shareholder
value for you. The plan is the culmination of a Board-led
comprehensive review of Crescent Point’s portfolio and various
alternatives within the context of the commodity price environment
that existed.
While we know that not all of the changes we have implemented
have been popular, they have been necessary in this environment
and, in the end, will be proven right.
The use of hindsight is convenient and sometimes illustrates
areas where we could have done things differently. Based on the
information available at the time, we took the steps we believed
were necessary to protect shareholders. Going into the oil price
downturn, we had a strong balance sheet and commodity hedge book
and the knowledge that many of our shareholders, particularly
individuals, put a priority on the dividend. We maintained the
dividend level for a period thinking we could bridge through the
oil price downturn. As the downturn continued and looked as if it
was going to last longer than we, and almost everyone, thought it
would, we made the decision to cut the dividend. As the downturn
persisted, we made another difficult decision to raise equity to
protect our balance sheet in the event oil prices lingered for
longer than the market expected, which in fact is what
happened.
Share price is not something anyone can control. What we can
control is the pace and direction of change to ensure we create
immediate and long-term value and start to reward shareholders for
your patience and support.
And that’s what we’re doing.
We’ve implemented a five-year year plan with three strategic
objectives: developing and enhancing our focused high-quality,
large resource-in-place assets; managing risk and protecting our
balance sheet; and growing our reserves and production. The same
assets that Sandy admitted are best-in-class assets with
top-quartile operating netbacks were developed by our current team
with a deliberate focus on creating a high-quality, high-return
asset and opportunity base with a deep inventory for
sustainability. We did not collect our high-quality assets by
accident.
We are happy to report that we are on target.
In 2018, we expect to:
- Target a total payout of 99 percent including dividends
- Achieve seven percent exit growth with exit guidance of 195,000
boe/d
- Generate return-focused drilling with >75 percent of net
drills paying out in under two years
- Advance development of our early-stage plays in Uinta and the
East Shale Duvernay
- Dispose of additional non-core assets with proceeds
prioritizing debt reduction and core area capital investment
- Apply new technology to continually improve our capital and
operating efficiencies and reduce emissions
- Further advance our waterflood initiatives to lower corporate
decline rates and improve ultimate oil recovery from large oil in
place pools
In the midst of challenging times, our plan is both delivering
value now and positioning Crescent Point for the future.
That said, we are the first to say that we want the market and
our share price to be doing better. We are also the first to say
that we are open to all shareholder input to help us do that. In
the first half of 2017, we invited shareholders representing
approximately 33 percent of our common shares to engage with us. In
December of 2017, we again invited shareholders representing
approximately 13 percent of our common shares to engage. We also
held our first-ever technical days in key markets and met with
shareholders to update them on our progress.
We are committed to listening to, and acting on, the concerns of
shareholders. That’s why:
We’ve built a Board you can trust. We have
listened to our shareholders in our engagement program and we have
made changes.
We are committed to a very deliberate and thoughtful board
building process. We have balanced corporate history and knowledge
with new ideas and different experiences appropriate for a business
of our size and complexity with assets in Canada and the U.S. The
Board is comprised of highly respected, professional individuals
with deep experience and unquestioned expertise in the capital
markets and oil and gas industry; again, the exact skills Sandy
says we need. Nine of our 10 directors are independent and 20
percent are women. The election of Sandy’s nominees could
result in the loss of female board members.
We have robust director share ownership guidelines, requiring
non-employee directors to own at least eight times their annual
cash board retainer in common shares, Restricted Share Units (RSU)
and Deferred Share Units (DSU).
In 2017, we retained an independent facilitator to conduct a
thorough governance-focused interview with each board member and
select members of the senior leadership team. We are in the process
of implementing the suggested changes.
A leading independent proxy advisor, Institutional Shareholder
Services (ISS), has given us a strong governance quality score of
two, meaning that we have a low governance risk – one of the
strongest governance ratings amongst Canadian companies and our
peers. Further, in the Globe and Mail’s annual rankings of Canada’s
top boards, we are a top-quartile performer and have scored higher
every year since our renewal process started.
Your Board renewal has been ongoing. The Company has also made
continuous enhancements to its governance practices, including a
deliberate, ongoing and rigorous board renewal process. To
facilitate this, we have a mandatory retirement age of 75.
In fact, since 2014, Crescent Point has added seven new
independent members, including most recently nominating François
Langlois, a 35-year oil and gas industry veteran with significant
operational experience working for large, complex multinationals
(Suncor and Petro-Canada). As well, in 2019, the Company will see
the retirement of Gerald Romanzin and has substantially progressed
the candidate search for his replacement.
We’ve been changing our compensation plan to align with
shareholder interests. We don’t hide away from making the
changes our shareholders want. In consultation with our
shareholders, we adopted a renewed approach to executive
compensation that is based on pay-for-performance, carefully
aligned with shareholder interests and keeps executives
accountable. Our overall approach is market-competitive and
comparable to peers.
We made a meaningful move to align compensation with performance
by reducing chief executive officer (CEO) pay by 50 percent in
the 2016 fiscal year. We also eliminated the old Performance Share
component (previously representing $1 million pay opportunity for
the CEO) and simplified our short-term incentive plan to focus on
four key areas that align with our business strategy. All named
executive officers’ (NEOs) compensation has been reduced by 55
percent since 2013.
The first steps in the compensation review process received
strong shareholder support at our 2017 annual shareholders’
meeting, where 86.4 percent of shareholders voted in favour of
accepting Crescent Point’s approach to executive compensation.
In 2017, we introduced a forward-looking Performance Share Unit
(PSU) plan. For the 2017 fiscal year compensation, 100 percent
of long-term incentives for NEOs were in PSUs. Pursuant to our
pay-for-performance principle, 83 percent of reported 2017
executive compensation is contingent on performance and 67 percent
is affected by share price and is at-risk. President, CEO and
founder Scott Saxberg’s fiscal year 2017 compensation reflected a
further reduction of 11 percent of base salary and target bonus to
align pay with the shareholder experience. That means that when
your stock is not performing as well as we would want it to, CEO
pay is lower.
During our engagement process, we heard a strong message from
shareholders that our compensation plan should include a return
metric that is fundamentally aligned with our business strategy and
comparable to our peers. In response, we moved to a forward-looking
performance-based plan with components and weightings that are
similar to other plans of companies in our compensation peer group.
We also introduced Drilling Capital Internal Rate of Return (DCIRR)
in our PSU plan, a foundational metric for measuring efficient
capital allocation, long-term corporate profitability and,
ultimately, shareholder return.
For the 2018 fiscal year, subject to shareholder approval, we
are introducing options with a long-vesting profile of four years
(the norm is typically three years) and a heavy-tail with 40
percent not vesting until the end of the four-year period (the norm
is typically equal pro-rata vesting). We anticipate that going
forward, PSUs will represent 50 percent of the equity pay mix,
options will represent 25-30 percent and Restricted Share Units
(RSUs) will represent 20-25 percent. In simple terms, this means if
your shares don’t go up, executive pay will go down. Moreover,
Crescent Point’s Restrictive Share Bonus Plan and new Stock Option
Plan both have low dilution and are comparable to peers. The
options are also back-end weighted, highlighting that management is
focused on creating sustainable value over the long-term.
As we do every year, we are holding a say-on-pay vote that will
give you the chance to express your views on our compensation plan.
Whatever the feedback, we are committed to maintaining an ongoing
dialogue with our shareholders to ensure our compensation plan
matches their experience as shareholders.
We know there is more work to do. Making changes in a company
the size of ours in this market is challenging, but we are
committed to seeing our plan through. It takes skill, focus, time
and continued operational execution.
In the coming weeks and months, we are going to re-double our
efforts to create immediate value for shareholders through the
aggressive implementation of our five-year plan.
With so much change already proceeding under the leadership of a
carefully selected team of new directors, it would be disruptive to
add even a single poorly qualified director on the Board who is not
going to be constructive and has nothing to add that the current
directors do not already provide. It would be hard to fit one or
more nominees into a boardroom where he has attacked the remainder
of the Board. Shareholders cannot afford a period of chaotic
disruption and loss of leadership continuity in their
boardroom.
CATION WILL DERAIL OUR MOMENTUM AND PUT YOUR INVESTMENT
AT RISK.
To be clear, Sandy Edmonstone is not a long-term shareholder –
or even a significant one relative to his demand. Cation owns only
0.3 percent of Crescent Point and, as of the record date for our
Annual General Meeting, Sandy owned just 0.1 percent of Crescent
Point’s shares, meaning his shares were a last-minute purchase. Not
only that, at least 96 percent of Sandy’s ownership interest in
Crescent Point has been acquired since the end of November
2017.
That’s just one reason why it would have been unreasonable and
irresponsible for the Board to have caved into Sandy’s demand to
immediately add his roster of friends under threat of a public
fight that was brought forward just hours before the deadline for
providing notice of nominees under our advance notice by-law. What
we were willing to do is what we do for all potential nominees and
the shareholders who nominate them. Vet them and ask for their
plan. On both counts, we received a “no.” Sandy and his nominees
have no plan.
It is important that you have the facts on Sandy Edmonstone and
his nominees:
Sandy has had a checkered career and will have no future
at Crescent Point. We operate in a community and industry
where credibility and reputation matter. How you conduct yourself
reflects on the company.
We believe that if you ask about Sandy, you will learn that he’s
not the kind of person you would want running your company.
Sandy has a long history of short employment in the investment
banking world and has no prior board or executive management
experience at a public company, let alone an oil and gas company.
We don’t believe a seat on the board of a multinational,
multi-billion dollar, public energy company should be treated as a
training ground.
Sandy has no plan. His proposal is to plan for
over a year. That is not progress. Sandy has not presented a plan
for Crescent Point’s long-term success or how his nominees would
help Crescent Point achieve greater value creation than it is
currently on pace to provide to shareholders. A long list of
complaints is not a plan.
Sandy’s criticism is based on incomplete information and a
flawed analysis. When we took the time to sit down with Sandy
before he launched his senseless battle, he presented no analysis
and no constructive ideas. His focus is on short-term tactical
manipulations that will not work and are designed to benefit
himself, not long-term shareholders. His plan is to add
himself and his three nominees. He thinks that act alone would be
sufficient to improve the Company. What hubris! Our plan is working
and we do not think it is in the best interests of shareholders to
stop our plan so they can spend time to figure things out.
Sandy Edmonstone’s nominees are not what Crescent Point or our
shareholders need. Sandy has nominated four individuals who,
whatever their accomplishments, bring less experience, less
expertise and less independence than Crescent Point’s director
nominees. When we saw their names, we were concerned about their
ability to serve on a board of a company the size and complexity of
Crescent Point and even more concerned when they refused to be
interviewed or even share a resume. Here’s why:
- They’re not qualified. None of them have ever
had any operational experience in oil and gas. As a Canadian and
U.S. oil producer, the complexities of our business are great and
require a greater skill set than Sandy’s nominees possess. With
over 1,100 employees in two countries, fostering a positive and
collaborative work environment is key to our success.
- They’re not additive. The nominees either
duplicate or provide outdated experience compared to what we
currently have. Tom Budd is another character with a colourful past
and banking experience. We already have more relevant banking
experience on the Board. In fact, over his tenure as a director at
Toscana Energy Income Corporation share value plummeted by over 97
percent. On the first day of trading in October 2012, the shares
traded at $14.75 per share. The shares currently trade at $0.38 per
share. This is not what Crescent Point needs.
- They’re complaining about practices they
endorse. Herbert Pinder appears to have some relevant
experience, but serves on a competitor’s board that has a
compensation program that is basically identical to Crescent
Point’s in terms of the structure of a forward-looking compensation
plan and weighting to the various components of compensation – one
of Sandy’s top complaints.
- They’re too close to our retirement age.
Crescent Point’s policies have a director retirement age of 75, yet
two of the nominees (Mr. Howe and Mr. Pinder) are rubbing up
against that age limit now, raising questions about how long they
could serve. In a company like ours, it is important to have
expertise in the latest technologies available to us and not
default to relying on worn out practices. In fact, one will be
retired by the time he reaches the end of the 18 month timeframe
Sandy says they will need to come up with a plan. If Sandy really
had a long-term plan for the Company, wouldn’t he put forward
directors who could serve long-term?
- They have conflicts of interest. We are very
sensitive to conflicts of interest at our Board. Mr. Pinder sits on
multiple competing boards. A private company, whose board he
chairs, owns a material portion of its land near or adjacent to
Crescent Point’s core area. If elected to your Board, Mr. Pinder
would have access to sensitive Company information that could be
used to the benefit of that company and to Crescent Point’s
detriment unless the information provided to Mr. Pinder by Crescent
Point was significantly curtailed, reducing if not eliminating his
ability to provide useful guidance to Crescent Point.
We welcome directors who will be a positive catalyst for
shareholders, but these nominees will be a destructive force in the
boardroom and on the share price.
CHOOSE RENEWAL THAT IS WORKING. DO NOT RISK UNDOING THE
MOMENTUM OF YOUR INVESTMENT.
Crescent Point is at a critical point. You can see our plan
through and reap the benefits or you can risk your investment with
an unknown entity’s self-serving agenda and unqualified
nominees.
If Sandy is able to install his handpicked nominees, they will
undo the progress we’ve made together and damage our long-term
share price.
Your Board will not be strong-armed by a self-interested,
newcomer activist.
We remain firmly committed to overseeing and supporting
management in its successful execution of Crescent Point’s growth
strategy. Because if we do that, the market will recognize its
value in time and all shareholders will benefit.But we can’t do it
without you.
Voting is now open. To vote FOR ALL of your management nominees,
vote the WHITE Proxy or Voting Instruction Form. If you have
already voted the WHITE Proxy, no need to vote again.
Do not vote the Blue Proxy or Voting Instruction Form sent to
you by Cation. Throw it out.
Becoming a voter is fast and easy. Follow the instructions on
the WHITE Proxy or Voting Information
Don’t wait. The last day to vote is Wednesday, May 2 at 10:00
a.m. (MDT). If you have questions or need help voting contact
Kingsdale Advisors at 1-888-518-6559 or
contactus@kingsdaleadvisors.com. There is a team standing by to
help.
Sincerely,
Crescent Point Board of Directors
Forward Looking Statements
Certain statements contained in this letter constitute
"forward-looking statements" within the meaning of section 27A of
the Securities Act of 1933 and section 21E of the Securities
Exchange Act of 1934 and "forward-looking information" for the
purposes of Canadian securities regulation (collectively,
"forward-looking statements"). We have tried to identify such
forward-looking statements by use of such words as "could",
"should", "can", "anticipate", "expect", "believe", "will", "may",
"intend", “continues”, "strategy", "potential", "grow", "estimate",
and other similar expressions, but these words are not the
exclusive means of identifying such statements. In particular, this
letter contains forward-looking statements pertaining, among other
things: to the nomination of directors at Crescent Point’s upcoming
annual meeting of shareholders and the performance of Crescent
Point under the directors who are elected at such meeting; Crescent
Point’s targeted total payout in 2018; 2018 production growth and
exit guidance; the ratio of net drills to payout in the next two
years; development of plays in Uinta and East Shale Duvernay;
future dispositions of non-core assets and the use of proceeds
therefrom; the continued application and effect of technology on
capital and operating performance and Crescent Point’s emissions;
and advancing waterflood initiatives to lower corporate decline
rates and improve ultimate oil recovery from large oil in place
pools.
All forward-looking statements are based on Crescent Point’s
beliefs and assumptions based on information available at the time
the assumption was made. Crescent Point believes that the
expectations reflected in these forward-looking statements are
reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements
included in this letter should not be unduly relied upon. By their
nature, such forward-looking statements are subject to a number of
risks, uncertainties and assumptions, which could cause actual
results or other expectations to differ materially from those
anticipated, expressed or implied by such statements, including
those material risks discussed in Crescent Point’s Annual
Information Form for the year ended December 31, 2017 under "Risk
Factors" and our Management’s Discussion and Analysis for the year
ended December 31, 2017, under the headings "Risk Factors" and
"Forward-Looking Information". The material assumptions are
disclosed in the Management’s Discussion and Analysis for the year
ended December 31, 2017, under the headings "Capital Expenditures",
"Liquidity and Capital Resources", "Critical Accounting Estimates",
"Risk Factors", "Changes in Accounting Policies" and "Outlook". The
impact of any one risk, uncertainty or factor on a particular
forward-looking statement is not determinable with certainty as
these are interdependent and Crescent Point’s future course of
action depends on management’s assessment of all information
available at the relevant time.
Additional information on these and other factors that could
affect Crescent Point’s operations or financial results are
included in Crescent Point’s reports on file with Canadian and U.S.
securities regulatory authorities. Readers are cautioned not to
place undue reliance on this forward-looking information, which is
given as of the date it is expressed herein or otherwise. Crescent
Point undertakes no obligation to update publicly or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless required to do so pursuant to
applicable law.Any "financial outlook" in this letter, as defined
by applicable securities legislation, has been approved by
management of Crescent Point. Such financial outlook is provided
for the purpose of providing information about Crescent Point’s
current expectations and plans relating to the future. Readers are
cautioned that reliance on such information may not be appropriate
for other purposes.
The recovery and reserve estimates of Crescent Point’s reserves
provided herein are estimates only and there is no guarantee that
the estimated reserves will be recovered. The reserve data provided
in this letter presents only a portion of the disclosure required
under National Instrument 51-101. All of the required information
is contained in the Company’s Annual Information Form for the year
ended December 31, 2017, which is filed on SEDAR (accessible at
www.sedar.com) and EDGAR (accessible at
www.sec.gov/edgar.shtml).
Throughout this letter Crescent Point uses the term "total
payout ratio". This term does not have any standardized meaning as
prescribed by IFRS and, therefore, may not be comparable with the
calculation of similar measures presented by other issuers. Total
payout ratio is calculated on a percentage basis as capital
expenditures, capital acquisitions and dividends declared divided
by funds flow from operations and proceeds from disposition. Total
payout ratio is used by management to monitor Crescent Point’s
capital reinvestment and dividend policy, as a percentage of the
amount of funds flow from operations, taking into account capital
acquisition and disposition activity. Further information about the
meaning and calculation of funds flow from operations can be found
in Crescent Point’s management information circular dated March 2,
2018 and filed on SEDAR on March 26, 2018.
References to the “potential upside” of asset acquisitions
relative to non-core asset dispositions are derived from the
before-tax net present value of unrisked drilling locations,
discounted at 10 percent, in comparison to the total value of
dispositions executed in 2017.
Based on continued success on the western portion of the Uinta
Basin, new zone development and additional down-spacing, the
Company's Uinta Basin horizontal inventory has the potential to
increase to over 1,700 locations, of which 23 are booked as at
December 31, 2016. The remaining net risked and unrisked locations
are internally identified and unbooked.
Unless otherwise stated, the term “barrel of oil equivalent” or
“boe” means a barrel of oil equivalent of natural gas and crude oil
on the basis of 1 boe for 6 Mcf of natural gas. This conversion
factor is an industry accepted norm and is not based on either
energy content or current prices.
CRESCENT POINT ENERGY CORP.
FOR FURTHER INFORMATION ON CRESCENT POINT ENERGY CORP.
PLEASE CONTACT:
Ken Lamont, Chief Financial Officer, or Brad Borggard, Vice
President, Corporate Planning and Investor Relations
Telephone: (403)
693-0020
Toll free (U.S. & Canada):
888-693-0020 Fax:
(403)
693-0070
Website: www.crescentpointenergy.com
Crescent Point shares are traded on the Toronto Stock
Exchange and New York Stock Exchange under the
symbol CPG.
Crescent Point Energy Corp.Suite 2000, 585 - 8th
Avenue S.W.Calgary, AB, T2P 1G1
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