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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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