I bought shares in Crescent Point Energy in January and some more in February and the share price has been up and down since but yesterday it jumped up 93 cents a share and closed at $41.31 which is great news. Not only are we getting a 7.25 % dividend but my shares have also increased in value 7% in one account and 5% in my other account. I think that the big jump up can be attributed to Scott Saxberg's answering questions at the CIBC Energy Conference in Toronto on Wednesday April 21, 2010. He stated that the waterflood program that CPG is undertaking in the Bakken has been successful so far and has moved beyond the pilot project stage. This could have a big upside for Crescent Point as the recovery rate for its discovered oil in place (OIIP) could increase from 30% to 50% which could have a huge effect going forward on Crescent Points reserves. Scott Saxberg also mentioned that Crescent Points budget for 2010 which is currently $450 million dollars will be expanded by another $100 million which will go into infrastructure and exploration to bring more oil to market in 2010. All of this is great news for the share price.

Best Wishes; Scott