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Crescent Point Energy Shareholders Approve All Resolutions at Annual Meeting of Shareholders

CALGARY, ALBERTA -- (Marketwired) -- 05/12/14 -- Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX: CPG) (NYSE: CPG) held its Annual and Special Meeting of Shareholders on May 9, 2014, in Calgary. A total of 201.52 million shares, representing approximately 50.60% of common shares, were represented in person or by proxy at the meeting.

During the regular business proceedings at the meeting, shareholders approved the resolutions below. For comparison, the Company has also included the voting results in favour of resolutions that were passed at last year's Annual and Special Meeting of Shareholders, which had approximately 49.14% of common shares represented in person or by proxy.

1. Fixing Number of Directors

The appointment of eight board members for the ensuing year was approved by a show of hands. Proxies and in-person votes were received as follows:

   Votes For       Percent        Against        Percent     2013 Votes For
  196,945,271       99.58%        830,170         0.42%          99.68%

"Last year, we amended our articles to give us the flexibility to add additional directors to our board, so we're pleased to fill two of those spots with Rene Amirault and Bob Heinemann," said Scott Saxberg, president and CEO of Crescent Point. "Our board members are a diverse group with a broad skill set, and we are continuing to look for an additional board member to further strengthen the team."

2. Election of Directors

The eight director nominees proposed by management were elected by a show of hands. Proxies and in-person votes were received as follows:

                                                                 2013 Votes
Nominee                  Votes For  Percent  Withheld  Percent      For
Rene Amirault           194,254,995  99.71%   559,349   0.29%       N/A
Peter Bannister         194,377,433  99.78%   436,911   0.22%      99.86%
Kenney F. Cugnet        193,409,519  99.28%  1,404,825  0.72%      96.96%
D. Hugh Gillard         184,971,482  94.95%  9,842,862  5.05%      97.16%
Robert F. Heinemann     194,404,564  99.79%   409,780   0.21%       N/A
Gerald A. Romanzin      185,396,313  95.17%  9,418,031  4.83%      91.95%
Scott Saxberg           194,427,117  99.80%   387,227   0.20%      96.91%
Gregory G. Turnbull, QC 136,567,068  70.09% 58,271,260  29.91%     73.96%

3. Amendment to the Restricted Share Bonus Plan

The amendment to the restricted share bonus plan was approved by a show of hands. Proxies and in-person votes were received as follows:

   Votes For       Percent        Against        Percent     2013 Votes For
  187,516,598       96.24%       7,321,730        3.76%           N/A

4. Approval of Share Amendment to Implement the Share Dividend Program

The resolution to amend the Company's articles of amalgamation to implement the Share Dividend Program ("SDP") was approved by a show of hands. Proxies and in-person votes were received as follows:

   Votes For       Percent        Against        Percent     2013 Votes For
  194,141,288       99.64%        697,521         0.36%           N/A

Crescent Point expects the SDP to be implemented next week and to be available to shareholders for the May 2014 dividend, in respect of May 2014 production. More details about the SDP will be posted on the Company's website before Crescent Point's next dividend announcement, which is expected to be on May 15, 2014.

5. Appointment of Auditors

The appointment of PricewaterhouseCoopers LLP as Crescent Point's auditors was approved by a show of hands. Proxies and in-person votes were received as follows:

   Votes For       Percent        Withheld       Percent     2013 Votes For
  197,697,964       98.96%       2,085,396        1.04%          99.83%

6. Advisory Vote on Executive Compensation

The resolution to accept the Company's approach to executive compensation, the full text of which is set forth in the Information Circular, was approved by ballot. Proxies and in-person votes were received as follows:

   Votes For       Percent        Against        Percent     2013 Votes For
  109,886,038       56.67%       84,019,997       43.33%         97.29%

The board of directors acknowledges the level of support received for Crescent Point's executive compensation and will consider this vote in structuring future compensation packages.

"Our executive compensation programs are adjusted on an ongoing basis to reflect the rapid growth and performance of the company. From inception, Crescent Point's executive compensation has been very aligned with shareholders. In 2013, 90 percent of executive compensation was equity-based, which is restricted and vests in periods of up to three years. To put our 2013 executive compensation in context, our total corporate G&A cost, including equity-based compensation, is one of the lowest among our peers at less than eight percent of our netback. We've calculated the average of our peer group, as listed in our information circular, to be approximately 13 percent," said Hugh Gillard, the chair of Crescent Point's compensation committee. "However, as indicated in the Company's information circular, an independent consultant was retained earlier in the year to provide advice on compensation structure. Once completed, we will provide a timely response to shareholders explaining the actions by the board."

The biographies of Crescent Point's board members and more details about the Company's corporate governance practices are available on

Crescent Point is one of Canada's largest light and medium oil producers, with a market capitalization of more than CDN$18 billion and an annual dividend of CDN$2.76 per common share.


Scott Saxberg, President and Chief Executive Officer

Crescent Point shares are traded on the Toronto Stock Exchange and the New York Stock Exchange, both under the symbol CPG.

Crescent Point Energy Corp.
Greg Tisdale
Chief Financial Officer
(403) 693-0020 or Toll-free (U.S. & Canada): 888-693-0020

Crescent Point Energy Corp.
Trent Stangl
Vice President Marketing and Investor Relations
(403) 693-0020 or Toll-free (U.S. & Canada): 888-693-0020

Crescent Point Energy Corp.
Suite 2800, 111-5th Avenue S.W.
Calgary, Alberta T2P 3Y6
(403) 693-0070 (FAX)

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