/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
    ANY UNITED STATES NEWS SERVICES./CALGARY, July 2 /CNW/ - Crescent Point Energy Corp., ("Crescent Point" or
the "Company") formerly Wild River Resources Ltd., is pleased to announce that
today it completed the previously announced plan of arrangement with Crescent
Point Energy Trust (the "Crescent Point Arrangement"), which resulted in the
effective conversion of Crescent Point Energy Trust from an income trust to a
dividend paying corporation. On June 29, 2009, unitholders of Crescent Point
voted 99.9 percent in favour and shareholders of Wild River Resources Ltd.
voted 100 percent in favour of the Crescent Point Arrangement.
    The completion of the Crescent Point Arrangement allows Crescent Point to
implement Crescent Point Energy Trust's proven business plan of growing value
through its integrated strategy of acquiring, exploiting and developing high
quality, long life reserves. The conversion allows Crescent Point improved
access to capital markets without the constraints of the Safe Harbour growth
limitations placed on income trusts. Crescent Point's business model includes
a monthly dividend, the initial payment of which will be on August 17, 2009
for the production month of July 2009. The initial dividend has been set at
$0.23 per share, equal to Crescent Point Energy Trust's most recent monthly
distribution of $0.23 per unit.
    It is Crescent Point's understanding that dividends paid by the Company
in respect of shares held by Canadians outside of a Registered Retirement
Savings Plan ("RRSP"), Registered Retirement Income Fund ("RRIF"), or Deferred
Profit Sharing Plan ("DPSP") will be eligible for the Canadian Dividend Tax
Credit. As such, under the intended monthly dividend of $0.23 per share,
Canadians holding shares outside of a RRSP, RRIF or DPSP will receive an
increase on an after tax basis when they receive the intended dividend instead
of Crescent Point Energy Trust's most recent distribution.

    TORONTO STOCK EXCHANGE

    The Toronto Stock Exchange ("TSX") has conditionally approved the listing
of the common shares of Crescent Point, including those common shares issued
to Crescent Point Energy Trust unitholders pursuant to the Wild River
Arrangement. It is anticipated that, subject to approval of the TSX, trading
in Crescent Point's common shares, under the symbol "CPG" will occur on or
about July 8, 2009. The trust units of Crescent Point Energy Trust will be
delisted at this time as well.

    FORWARD LOOKING STATEMENTS

    Certain statements contained in this press release may constitute forward
looking statements, including expectations of future production. All
forward-looking statements are based on the Crescent Point's beliefs and
assumptions based on information available at the time the assumption was
made. The use of any of the words "anticipate", "continue", "estimate",
"expect", "may", "will", "project", "should", "believe" and similar
expressions are intended to identify forward looking statements. By its
nature, such forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward looking statements,
including those material risks discussed in Crescent Point Energy Trust's
annual information form under "Risk Factors" and in the MD&A section under
"Results of Operations", "Liquidity and Capital Resources" and "Outlook",
which was incorporated by reference in our information circular dated May 29,
2009. These risks include, but are not limited to: the risks associated with
the oil and gas industry (e.g., operational risks in development, exploration
and production; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of reserve
estimates; the uncertainty of estimates and projections relating to
production, costs and expenses, and health, safety and environmental risks),
commodity price, price and exchange rate fluctuations and uncertainties
resulting from potential delays or changes in plans with respect to
exploration or development projects or capital expenditures. 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 securities regulatory authorities. These statements speak
only as of the date of this press release or as of the date specified in this
press release 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 and, unless required by law, Crescent Point undertakes no
obligation to update publicly or revise any forward-looking information,
whether as a result of new information, future events or otherwise.

    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 Energy Corp. is a conventional oil and gas producer with
assets strategically focused in properties comprised of high quality, long
life, operated, light oil and natural gas reserves.CRESCENT POINT ENERGY CORP.

    Scott Saxberg,
    President and Chief Executive Officer