Crown Point Energy reported a $2.1 million loss, lower revenue, but secured new oil concessions and funding.

Crown Point Energy Inc. reported a net loss of $2.1 million for the third quarter of 2024, with revenue of $5.6 million, down from $7.4 million in 2023, due to lower oil sales volumes. The company acquired new hydrocarbon concessions for $27.6 million, financed partly by issuing new notes. Despite operational challenges, Crown Point secured additional loans and issued new debt to fund its operations and acquisitions.

November 11, 2024
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