WSX Wild Stream Exploration Inc.

Wild Stream Exploration Inc. (TSX VENTURE:WSX) ("Wild Stream") is pleased to
announce that it has entered into an arrangement agreement (the "Agreement")
whereby Crescent Point Energy Corp. ("Crescent Point") will acquire all of the
issued and outstanding common shares of Wild Stream in a transaction valued at
approximately $770 million (the "Arrangement"). Under the terms of the
Arrangement each common share of Wild Stream shall be exchanged for 0.17 common
shares of Crescent Point, 1.0 common share of a new light oil focused junior
exploration company ("Newco") and 0.2 of a common share purchase warrant ("Newco
Warrants"). Each whole Newco Warrant will entitle the holder to acquire one
common share of Newco at an exercise price equal to its defined net asset value
of $1.61 per share at any time on or before the close of business on thirtieth
(30th) day following the closing of the Arrangement. The price and corresponding
defined net asset value is subject to review and final approval of the TSX
Venture Exchange, of which there is no assurance. 


Newco will be a new publicly listed junior exploration and production company
led by Neil Roszell as President and CEO and four members of Wild Stream's
current management team. Newco will be a growth entity with approximately 1,000
boe/d of 100% oil weighted production. The production is 100% focused in the
Dodsland area of southwest Saskatchewan and is complemented by a dominant land
position consisting of approximately 57,000 net undeveloped acres prospective
for Viking light oil in the area. The Agreement contemplates that Newco will
assume $43.5 million of existing Wild Stream debt and that Crescent Point will
obtain 2.65 million shares of Newco at a deemed price of $1.61 per Newco Share.


Wild Stream's board of directors and management view this as an advantageous
transaction for Wild Stream shareholders. Existing Wild Stream shareholders will
receive value for a large portion of the corporation through the diversification
and liquidity of the large oil portfolio provided by Crescent Point as well as
access to an anticipated monthly dividend stream. Additionally, Wild Stream
shareholders will maintain ownership in Newco, which will own assets that Wild
Stream's management believe to contain value and which under its direction, can
be unlocked.


The Arrangement



Consideration Received by Wild Stream Shareholders                          
    1.0 common share of Newco                                   $1.61/share 
    0.17 common share of Crescent Point                       $7.94/share(1)
    Total Value (not including Newco Warrants)                  $9.55/share 

1.  Based on the closing price of Crescent Point ending on January 23, 2012
    of 46.70

Newco Net Asset Value January 2012                                          
                                                                            
    Oil Assets(1)                                            $134.9 million 
    Undeveloped Land(2)                                       $29.0 million 
    Less: Assumed debt                                        $43.5 million 
    Net Asset Value                                          $120.4 million 
                                                                            
    Basic shares(3)                                     74.8 million shares 
                                                                            
    Net Asset Value                                             $1.61/share 

1.  Combination of Independent evaluations prepared by Sproule Associates
    Limited with the WSX Dodsland report dated December 31, 2011 and the WSX
    Lucky Hills report being dated January 31, 2012 which, when combined,
    represent all of the properties being transferred into Newco as part of
    the Arrangement. The value was arrived using the net present value
    before income taxes for the proved plus probable reserves discounted at
    10%. 
2.  Undeveloped land value from three Seaton Jordan reports which in
    combination represent all of the undeveloped acreage being transferred
    into Newco as part of the Arrangement. The effective dates of the
    reports are November 1, 2011, November 1, 2011 and December 12, 2011. 
3.  Included in this calculation are the 68,336,277 Newco Shares issued to
    Wild Stream shareholders and 2,650,000 Newco Shares issued to Crescent
    Point as part of the Arrangement, and the balance of the securities is
    comprised of the "in the money" dilutive securities including options
    and warrants of Wild Stream which are assumed to be taken up prior to
    closing of the Arrangement.



Assuming the Newco Warrants are fully exercised, approximately $23.1 million
will be raised for Newco which will initially be used to reduce the indebtedness
assumed from Wild Stream pursuant to the terms of the Arrangement. The exercise
of all or any of the Newco Warrants referred to in this news release cannot be
assured and assumptions made in this respect are solely for the purposes of the
calculations set forth herein.


Concurrent with the completion of the Arrangement, Newco will complete a private
placement of up to 14.375 million units ("Units") of Newco at $1.61 per unit.
The private placement will be offered to the proposed employees of Newco as well
as the proposed management and directors of Newco and their close relatives,
friends and business associates. Each Unit will consist of 1 common share of
Newco and 1 common share purchase warrant of Newco ("Purchase Warrant"). Each
Purchase Warrant will entitle the holder to acquire one common share of Newco at
an exercise price of $2.00 for a period of three years from the date of
issuance. Completion of the private placement is subject to certain approvals,
including TSX Venture Exchange approval and disinterested shareholder approval.


If all Newco Warrants are exercised and the private placement is fully
subscribed, Newco would have had a positive cash position of approximately $3
million as at January 1, 2012.


Transaction Metrics

Based on the above expectations for the Arrangement, and after adjusting for
estimated land and seismic value of $18 million, the estimated acquisition
metrics offered by Crescent Point, excluding Newco, are as follows:




Production:                                                                 

--  $109,800 per producing boe based on 5,400 boe/d

Reserves:                                                                   

--  $20.66 per proved plus probable boe based on 28.7 million mboe(1) 
--  $33.69 per proved boe based on 17.6 million boe(1)

1.  Independent evaluation prepared by Sproule Associates Limited with an
    effective of December 31, 2011.



Strategic Rationale

The Arrangement is a culmination of over two years of exploration and
development over which the Company grew production from approximately 425 boe/d
to current production of approximately 6,400 boe/d. Management views the
Arrangement as an opportunity for Wild Stream shareholders to realize value for
a large portion of the Company's assets while continuing to participate directly
in the upside of the Dodsland play.


Through ownership in Crescent Point, the Arrangement allows shareholders to
participate in the continued development of the Upper and Lower Shaunavon plays
and gain exposure to a large, highly liquid, premium oil company with a dominant
position in the Bakken, a rapidly growing Beaverhill Lake position and an
extensive development drilling inventory on their large oil pools throughout
Saskatchewan and Alberta. Shareholders will also receive a monthly dividend on
each Crescent Point share held in accordance with Crescent Point's dividend
policy. 


The Arrangement also allows Newco management to immediately apply its expertise
at creating value in junior oil and gas entities following completion of the
Arrangement. Newco will be well-capitalized at inception with a cash balance, no
net debt, significant management ownership and a premium focused portfolio of
assets. Management believes the Dodsland asset has upside potential for
shareholders with over 300 drilling locations and 57,000 net acres of
undeveloped land. 


The Wild Stream team has a solid track record of building shareholder value at
junior oil and gas companies for over 10 years with Wild Stream, Wild River
Resources Ltd., Prairie Schooner Petroleum Ltd. and Great Northern Exploration
Ltd. Based on the initial financing completed in each venture Wild Stream
generated a 108% return over 27 months while Wild River Resources Ltd. generated
a 100% return over 28 months.


Board of Directors Recommendation and Financial Advisors

The Directors of Wild Stream entitled to vote on the matter have unanimously
approved the Agreement and have resolved to recommend that Wild Stream
shareholders vote in favour of the Arrangement. 


National Bank Financial Inc. ("NBF") acted as financial advisor to Wild Stream
and its independent committee of the Board of Directors with respect to the
Arrangement. Peters & Co. Limited ("Peters") acted as financial advisor to the
independent committee of the Board of Directors of Wild Stream with respect to
Newco. NBF is expected to provide a written fairness opinion relating to the
Arrangement to the independent committees of Wild Stream (the "Fairness
Opinion") in addition to the verbal opinion which has already been provided to
the committee. 


NBF has provided the Board of Directors of Wild Stream with an opinion that,
subject to its review of the final form of documentation effecting the
Arrangement, the consideration to be offered by Crescent Point to the Wild
Stream shareholders under the Arrangement is fair, from a financial point of
view, to the Wild Stream shareholders.


BMO Capital Markets acted as financial advisor to Crescent Point with respect to
the Arrangement. FirstEnergy Capital Corp. acted as strategic advisor to
Crescent Point in connection with the Arrangement.


The Agreement provides that Wild Stream will pay Crescent Point a non-completion
fee of $20.0 million in certain circumstances and that a reciprocal
non-completion fee will be payable by Crescent Point to Wild Stream in certain
circumstances. The Agreement also provides for customary non-solicitation
covenants, including that Wild Stream has the right to respond to superior
proposals and that Crescent Point has the right to match any such proposal.


The Agreement has the support of Wild Stream's management and directors who
collectively own approximately 18% of Wild Stream's fully diluted shares.
Directors, officers and certain other individuals exercising control or
direction over approximately 18% of Wild Stream's fully diluted shares have
entered into support agreements in favour of the Arrangement. It is expected
that a management information circular and proxy statement detailing the
Arrangement and the Newco private placement, and including the Fairness Opinion
will be sent to Wild Stream's shareholders on or before February 10, 2012 with a
shareholder meeting scheduled to occur prior to March 31, 2012. The closing of
the Arrangement is subject to the receipt by Crescent Point and Wild Stream of
all court, stock exchange and other regulatory approvals, receipt of the
requisite shareholder approvals of Wild Stream, no material adverse change
having occurred in Wild Stream and a number of other matters customary in
transactions of this nature.


Newco

As part of the Arrangement, Wild Stream shareholders will receive common shares
in Newco and Warrants to purchase common shares of Newco. Newco will be a
publicly listed high growth oriented junior exploration and production company
with the following senior management.




    President and CEO                   Neil Roszell                        
    Executive Vice President            Bruce Robertson                     
    Vice President Finance and CFO      Jerry Sapieha, CA                   
    Vice President Production           Jason Jaskela                       
    Vice President Engineering          David Burton                        
    Corporate Secretary                 Gary Bugeaud                        
                                                                            
The Board of Directors of Newco will consist of certain existing members of 
Wild Stream's current Board of Directors.                                   
                                                                            
    Neil Roszell               President & CEO, Newco                       
    George Fink                Chairman & CEO, Bonterra Energy Corp.        
    Kevin Olson                President Kyklopes Capital Management Ltd.   
    Raymond Mack               Partner: Kenway Mack Slusarchuk Stewart LLP  
                                                                            
It is anticipated that an additional board member will be announced in      
conjunction with the closing of the Arrangement.                            
                                                                            
Key Attributes of Newco                                                     
                                                                            
    Production                          1,000 bbls/d oil                    
    Undeveloped Land                    57,000 net acres                    
    P+P Reserves(1)                     5,439 mstb, 100% oil                
    Average Working Interest            greater than 90%                   
    Drilling Locations                  greater than 300 net locations     
    Operating Netback(2)(4)             $60.00/boe                          
    January 1, 2012 Cash(3)             $3 million                          
    Net Debt, January 1, 2012(3)(4)     $0                                  

1.  Combination of Independent evaluations prepared by Sproule Associates
    Limited with the WSX Dodsland report dated December 31, 2011 and the WSX
    Lucky Hills report being dated January 31, 2012 which, when combined,
    represent all of the properties being transferred into Newco as part of
    the Arrangement. 
2.  Based on WTI of $95 US/bbl and FX of 1.0 $Cdn/$US. 
3.  Assuming all Newco Warrants are taken up and that the full amount of the
    private placement is completed. 
4.  Non-GAAP measures.



Based upon the 2011 year end reserve reports relating to the assets to be
transferred into Newco as part of the Agreement, Newco's bank has provided an
indicative term sheet providing for an initial line of credit of $45 million,
subject to final due diligence approval by the bank.


Newco will continue with Wild Stream's approach of increasing shareholder value
through a combination of exploration, strategic acquisitions and subsequent
exploitation while maintaining a conservative approach to balance sheet
management. 


FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements. More particularly, this press release contains statements concerning
Wild Stream's and Newco's drilling plans, future growth plans, reserves and
values attributable thereto, per share growth, Wild Stream's and Newco's growth
strategy, the nature of their assets. In addition, the use of any of the words
"guidance", "initial, "scheduled", "can", "will", "prior to", "estimate",
"anticipate", "believe", "potential", "should", "unaudited", "forecast",
"future", "continue", "may", "expect", "project", and similar expressions are
intended to identify forward-looking statements. The forward-looking statements
contained herein are based on certain key expectations and assumptions made by
the Company or Newco, as the case may be, including expectations and assumptions
concerning the success of optimization and efficiency improvement projects, the
availability of capital, current legislation, receipt of required regulatory
approval, the success of future drilling and development activities, the
performance of existing wells, the performance of new wells, growth strategy,
general economic conditions, availability of required equipment and services and
prevailing commodity prices. Although the Company believes that the expectations
and assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will prove to be
correct. Since forward-looking statements address future events and conditions,
by their very nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated due to a number
of factors and risks. These include, but are not limited to, risks associated
with the oil and gas industry in general (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 and exchange rate fluctuations, changes in legislation affecting
the oil and gas industry and uncertainties resulting from potential delays or
changes in plans with respect to exploration or development projects or capital
expenditures. Certain of these risks are set out in more detail in the Company's
Annual Information Form which has been filed on SEDAR and can be accessed at
www.sedar.com or Wild Stream's website www.wildsr.com. 


The forward-looking statements contained in this press release are made as of
the date hereof and the Company undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.


Meaning of Boe: When used in this press release, Boe means a barrel of oil
equivalent on the basis of 1 Boe to 6 thousand cubic feet of natural gas. Boe
per day means a barrel of oil equivalent per day. Boe's may be misleading,
particularly if used in isolation. A Boe conversion ratio of 1 Boe for 6
thousand cubic feet of natural gas is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.


Non-GAAP Measures: The reader is also cautioned that this news release contains
the terms net debt and operating netback which are not a recognized measures
under Canadian generally accepted accounting principles ("GAAP"). Management
believes that these measures are useful supplemental measures. Net debt is
calculated as current liabilities less current assets, excluding the current
portion of future tax assets and derivative assets and liabilities. Operating
netback is calculated as revenue minus royalties, operating expenses and
transportation expenses. Operating netback is specific to a point in time and
therefore will be unique to the period stated. Readers are cautioned, however,
that these measures should not be construed as an alternative to other terms
determined in accordance with GAAP as a measure of performance. Wild Stream's
method of calculating these measures may differ from other companies, and
accordingly, they may not be comparable to measures used by other companies. 


This press release shall not constitute an offer to sell, nor the solicitation
of an offer to buy, any securities in the United States, nor shall there be any
sale of securities mentioned in this press release in any state in the United
States in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.

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