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Shoal Point Energy Ltd C.SHP

Alternate Symbol(s):  SHPNF

Shoal Point Energy Ltd. is a Canada-based petroleum exploration and development company. The Company is engaged in the acquisition, exploration and development of oil and natural gas properties. It has partnered with Shelby Resources to explore for oil and gas in Kansas. Its ‘Humber Arm’ oil-in-shale play consists of two Exploration Licenses near offshore of western Newfoundland: EL 1070 and EL 1120. The Company holds an approximately 100% working interest in the Offshore Exploration License (EL) 1070 Shallow Rights and has the right to earn approximately 80% working interest in the Shallow Rights in the approximately 67,298-acres block in the Offshore Exploration License (EL) 1120. The Company also has an exploration license and farm-in rights to a second contiguous exploration license off the west coast of Newfoundland, which covers approximately 220,000 acres, contained in EL 1070 and EL 1120.


CSE:SHP - Post by User

Bullboard Posts
Comment by jenkinjton Jul 09, 2011 12:55pm
477 Views
Post# 18814150

Thanks JYD, Info was from Brian Murray

Thanks JYD, Info was from Brian MurrayMy apologies for the delay. I spoke to Brian Murray, who I guess is George Langdon's other half, and he related that the drill results indicated a huge new field of 100-200 million barrels. He was very disappointed with the failure of the share to move with the promising drill results. Personally I was gratified as it allowed me time to get a position!!!  He compared SHP to PRI which has found a 30 million barrel field off Anticosti and is now trading at $3/ share (altho they have 65 M shares compared to 168 million for SHP). He expected casing the drill hole to take 10 days or so and that the true flow of whatever is causing the back pressure would be proven beyond doubt then. I'm not sure how others trading find the Canadex exchange. I had to phone my broker and could not get quotes/bids etc online with CIBC Investor's Edge, which is a bit of a pain, as I like to see the spreads frequently. Perhaps other brokerages trade online for that Exchange. Sure, the doldrums are here, but if the cased well pressure is oil driven the stock should drive to $1 and then who knows. Cheers....
Bullboard Posts