Asset quality and comments. Significant upside potentialIt all seems to be coming together now and I think we have a few prized assets to work with over the next few years. Hoping we see some gains that can stick after 1q results; this narrow trading range has been frustrating given the progress CPG has made. If this was any other company the shares would be much higher with all the positives around assets. Hopefully the Saxberg discount narrows. See comments from Scotia below: Crescent Point Energy Corp. East Shale Duvernay Confirmed and Uinta Continues to Progress OUR TAKE: A new acreage position into the East Shale Duvernay was confirmed that implies a low cost entry with scalable potential. The company has further updated recent results from its first Uinta stacked horizontal pad with positive implications. We view both initiatives as constructive updates for the stock. KEY POINTS East Shale Basin upside. Since entry into the East Shale Basin in 2015 Crescent Point has increased its land holdings to 355,000 net acres (approximately 555 net sections) in addition to completing significant seismic mapping to identify potential drilling locations. Management notes that its Duvernay acreage has the potential for scalable growth while, at the same time, associated production is conservatively not included in the company's 2018 guidance or five-year plan. Crescent Point acquired its East Shale Basin acreage at an impressive average cost of $315/acre. East Shale Basin results exceed expectations to date. Crescent Point has a 50% working interest in two wells (non-op) that have been drilled to date. Each has outperformed expectations with the first well achieving IP30 and IP90 rates of 570 boe/ d and 515 boe/d (92% oil and liquids), respectively. The second well has been onstream for less than 30 days but is exhibiting a production profile similar to that of the first well. CPG plans to drill four operated net East Shale Basin Duvernay wells in H1/18. See pages 146 and 147 in our recent edition of The Playbook in which we highlighted the Duvernay East Shale Basin as an exciting emerging play worth watching. Uinta progression process. Crescent Point provided an update of its recent horizontal initiatives in the Uinta in January, which we detailed in our research commentary entitled 2018 Budget Plus Positive Uinta Indicators Could Prove Catalytic. Our January update specifically analyzed progression trends for both CPG and industry within the Uinta for one- and two-mile wells into the Castle Peak, Uteland Butte and Wasatch zones. In particular, the company highlighted its plans for a stacked horizontal development pad. See within for further details.