Shoal Point Energy and Operator DLMC Receive Regulatory Approval to Drill ahead at Shoal Point 3K39
(via Thenewswire.ca)
Toronto, ON: Shoal Point Energy Ltd. (the "Company" or "Shoal Point") (SHP on CNSX) announces that Dragon Lance Management Corp. (DLMC), the Operator of the Shoal Point 3K39 well, has received approval to drill ahead in a new borehole (side track 3K39Z) within the Green Point Formation. The current well, 3K39, has been drilled to 1745 metres and cased to 1711 metres. The new side track borehole, named 3K39Z, will be drilled by setting a whipstock at approximately 1585 metres and drilling out of casing and drilling ahead to the base of the Green Point Formation.
As announced previously, the current work will involve a comprehensive testing program, which will include one open hole test in the new 3K39Z borehole, and then, up to four tests out of the casing in the existing 3K39 borehole, subject to final regulatory approvals of the testing program. All tests will occur within the Green Point Formation, and will test the flow potential and reservoir characteristics of unstimulated, fractured Green Point shales. The entire program is expected to take up to 60 days to complete.
Shoal Point Energy holds a 100% working interest in the Shoal Point 3K39 cased wellbore as well as 100% of the 3K-39Z sidetracked wellbore.