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Shoal Point Energy Ltd : Shoal Point to Drill Third Mount Evans Well
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Shoal Point Energy Ltd.: Shoal Point Announces Private Placement
Vancouver, British Columbia (Newsfile Corp. - February 9, 2021) - Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE: SHP), today announced a non-brokered Private Placement of up to 5,000,000 units at a price of $0.07 per unit for total gross proceeds of up to $350,000.00.
Each unit will consist of one share and one warrant. The warrants will have a term of 3 years from the date of closing and each full warrant will be exercisable for one new share at a price of $0.10.
Finder s fees may be payable on some of the units placed.
Use of proceeds will be to fund the Company s operations at the Mt. Evans project in Kansas and for general corporate purposes.
Shoal Point Energy Ltd.: Shoal Point Energy to Spud Second Mt. Evans Well
Vancouver, British Columbia (Newsfile Corp. - February 3, 2021) - Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE:SHP) announced today that the Company plans to spud its second well in the Mount Evans project in Kansas at approximately the end of February. Shoal Point is a 65% working interest partner in the project and Shelby Resources has the remaining 35% working interest.
About Shoal Point Energy Ltd.
Shoal Point Energy Ltd. is a public company listed on the CSE exchange under the symbol SHP . The company is focused on its Mount Evans project in Kansas and retains its oil and gas interests in the Humber Arm Allochthon play in western Newfoundland.
Shoal Point Energy Ltd.: Shoal Point Reports on Mount Evans Project
Vancouver, British Columbia (Newsfile Corp. - December 17, 2020) - Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE: SHP), today provided an update to operations at the Maresch Unit #1-18 well, the first well in the Mount Evans project in Kansas, and to plans for future drilling at the Mount Evans project. Our first well in the Mount Evans project has not performed as expected, said Mr. Jarvis. We think that, due to reservoir damage caused by mud and cement invasion in the high porosity, high permeability upper zone, we have failed to establish communication with that zone and our fluid production is from the secondary zone, which has been producing mostly water with a minor oil cut. Oil production has been as high as 35 barrels per day, but recently has been less than 5 barrels per day.
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