This is from NU web site https://www.nu-oilandgas.co.uk/operations/current-assets-overview/newfoundland-el1070/
EL1070 contains a conventional prospect, Shoal Point
Exploration licence EL1070 confers rights to explore for petroleum in an offshore area off the Port au Port Peninsula, western Newfoundland. The licence was issued on the 15th January 2002 to Canadian Imperial Venture Corporation (CIVC) for a total licence period of 9 years. The licence remains in force until the merits of a significant discovery licence can be determined.
In 2008, one of the interest holders of EL1070, Shoal Point Energy, drilled the 2K-39-Z to test the Shoal Point prospect. The 2K-39-Z well did not yield a discovery, but we believe that the well was not drilled far enough to cross into the footwall of the Round Head Thrust, where the reservoir is located.
In addition, during the drill and before target depths were reached, the presence of hydrocarbons was detected in the Humber Arm Allochthon, specifically in the Green Point Shale formation.