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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

Post by barryt34on Oct 17, 2022 1:07pm
124 Views
Post# 35029311

They are laying pipe for this play

They are laying pipe for this play
Two of the four wells we have drilled so far are currently on production, said Mr. Jarvis. Our first well is awaiting installation of a gas pipeline and we expect to be producing that well within 4 weeks. Our fourth well is undergoing completion operations now after a several week delay obtaining a service rig.. They are in the process of building a pipeline for this play, they dont do this if we dont have the gas to support it, it seems the 3rd well that was producing water is now producing oil. So we have 3 wells that will be productive, the 4th will soon be in production testing and the the 5th well spudded. We own a 6.5 percent of this play. Its good cash flow. They are not pumping yet but imo its coming. I think there will be many more plays to come, supported by cash flow and my guess is it will be 50/50. Not 6.5 percent. Yk knows mark goes after the elephant play. This could be a elephant play and if not its cash flow towards a elephant imo. Good luck everyone. I have 3x my holdings from my first investment back 8 years ago in Shp. Im ready for a exciting new year.
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