Forward looking information: Certain information set forth in this document, including: (i) with respect to our TDF concessions: our belief that our interests in the area possess the capability of delivering increased levels of production and reserves in an expected increasing natural gas price market; our belief that the implementation of the New Gas Incentive program or one similar may have a significant and positive impact on our capital programs and our financial netbacks from production from the TDF concessions; our belief that if we and our joint venture partners participate in the New Gas Incentive program, it is likely that the TDF capital spending plans would be revised to include additional drilling and 3D seismic acquisition designed to accelerate growth in production and reserves; our intention that development and drilling operations will commence in TDF after the ten year extension to 2026 has been approved, and our belief that approval will ultimately be obtained; our plan to acquire additional 3D seismic on the Las Violetas, Angostura Sur and Rio Cullen concessions starting in 2014 and the objectives of the seismic program; (ii) with respect to our Cerro de Los Leones concession: the estimated total cost of the two seismic programs being completed on the concession; our belief that drilling on various conventional plays in the concession is expected to commence in late 2013 and our belief that information obtained from these wells will assist us in determining the economic viability of the Vaca Muerta shale play on the concession; that a second 3D seismic program is planned for 2014 for the eastern portion of the concession targeting both structural plays and stratigraphic resource type plays, and that the program would be followed up with the drilling of one to two wells targeting the aforementioned plays; that following the initial drilling phase, we may consider additional exploration and development drilling in the area, including the possibility of drilling vertical and horizontal tests in the Vaca Muerta shale play; and (iii) with respect to our El Valle concessions: our intention to drill additional wells in the area; our intention to undertake a waterflood secondary recovery scheme to increase reservoir pressure and the ultimate reserve recovery of the pool; and our belief that a waterflood secondary recovery scheme can improve rates of production and result in higher ultimate recoveries of oil in place; is considered forward-looking information, and necessarily involve risks and uncertainties, certain of which are beyond Crown Point's control.
Such risks include but are not limited to: risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; risks associated with operating in Argentina, including risks of changing government regulations (including the adoption of, amendments to, or the cancellation of government incentive programs or other laws and regulations relating to commodity prices, taxation, currency controls and export restrictions, in each case that may adversely impact Crown Point), expropriation/nationalization of assets, price controls on commodity prices, inability to enforce contracts in certain circumstances, the potential for a sovereign debt default, and other economic and political risks; loss of markets and other economic and industry conditions; volatility of commodity prices; currency fluctuations; imprecision of reserve estimates; environmental risks; competition from other producers; inability to retain drilling services; incorrect assessment of value of acquisitions and failure to realize the benefits therefrom; delays resulting from or inability to obtain required regulatory approvals; the lack of availability of qualified personnel or management; stock market volatility and ability to access sufficient capital from internal and external sources; and economic or industry condition changes.
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