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Shoal Point Energy Ltd C.SHP

Alternate Symbol(s):  SHPNF

Shoal Point Energy Ltd. is a Canada-based oil and natural gas exploration and development company. The Company is engaged in the acquisition, exploration and development of oil and natural gas properties. The Company’s projects include Humber Arm Allochthon. It has the rights to the exploration lands covering approximately 220,000 acres in the near offshore of the west coast of Newfoundland. The Company holds exploration license 1070 (EL 1070) off the west coast of Newfoundland which totals approximately 150,000 acres. The EL 1070 in Newfoundland is considered to be an exploration and evaluation asset, as it is still in the exploration stage. The Company’s Pratt County project is considered a developed oil and natural gas property. The Company’s subsidiary is Shoal Point U.S.A. Inc.


CSE:SHP - Post by User

Bullboard Posts
Post by wajacon Jan 31, 2019 9:09pm
90 Views
Post# 29304508

sold several weeks ago

sold several weeks agoI sold what shares I had left several weeks ago after being a shareholder in Canadian Imperial Ventures and then switching to Shoal Point. I no longer believe in the potential of the west coast play. Many wells have been drilled over the years and many attempts have been made to get these wells to flow oil. No one has succeeded to get a well to flow consistently. The big companies moved on 20 years ago leaving the area up for grabs by the likes of Canadian Imperial and Shoal Point Energy. The plans of these companies centered mostly  around  re-entering failed wells in an attempt to get them to flow. None have succeeded to date and I don't think they will. Fracking is another issue and I don't believe in the potential of that either.That in a nutshell is my rationale. I took the proceeds from the sale and bought Search Minerals, a company drilling for rare earth minerals in Labrador. Check them out if you have any interest. You can get the same number of shares as you now hold in SHP. And from my way of thinking there is a lot more potential than west coast oil. As always just my opinion.

Bullboard Posts