RE:Why Shoal PointJust wanted to add a quick word of caution. While this may be a good long play I would exercise caution in investing in this company. It's like recommending lotto numbers. But when I do have info that may save some poor sap some dollars I feel obligated to share. I guess I hope that some day I someone will return the favor and wish that in past someone would have :-). I have rovide lots of links to prevent the pumpers from cutting me down.
I am from the province that the oil field is located in. The oil field is in the Gros Morne National Park area which is a UNESCO World Heritage Site. A while back they proposed to run a high voltage transmission line through the park and it never went ahead. There was a large public outcry. The funny thing is the proposal was from a government owned corporation for a public project. The area is environmentaly unique and the people are sensitive to that fact. Link below.
https://www.thetelegram.com/Living/2009-09-03/article-1446174/No-power-lines-for-Gros-Morne,-premier-says/1
https://www.ctvnews.ca/canada/fracking-debate-escalates-on-newfoundland-s-scenic-west-coast-1.1464525
https://www.cbc.ca/news/canada/newfoundland-labrador/wait-for-research-before-allowing-fracking-scientist-says-1.1865361
Also I would not classify Newfoundland as politically stable at the moment. There isn't political unrest but there is a change in government party predicted. The PC government is trying to be fair with this project and give it an independant look. They are predicted and generally accepted as being ousted in the next election. They are currently last in the popularity polls of the three political parties. You can bet the Liberals and NDP will take the opposite stance and be against fracking.
https://www.cbc.ca/news/canada/newfoundland-labrador/liberals-take-lead-in-latest-cra-poll-1.1320733
Also the economy is absolutely booming in Newfoundland. We have large oil fields in production, others to start construction in the coming years, and huge conventional oil fields being discovered as recent as last month. The current economy is not favorable for approval of such environmentaly risky projects when major oil companies are actively developing conventially drilled resources, in my honest opinion.
https://www.ctvnews.ca/business/offshore-oil-major-construction-projects-spark-economic-boom-in-st-john-s-1.1449709
I think this is a good long play, maybe for 15-20 years down the road when the public and the province needs the money.
Here is a link for the board that manages offshore oil in the area
https://www.cnlopb.nl.ca/
Here is a link to one of the recent oil discoveries.
https://www.ctvnews.ca/business/significant-oil-discovery-off-of-newfoundland-could-yield-600m-barrels-1.1471477
DYODD