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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 uptowndog1on Mar 11, 2019 3:00pm
44 Views
Post# 29469380

Justin Trudeau and his office attempted to politically inter

Justin Trudeau and his office attempted to politically interOTTAWA An international body announced Monday it is monitoring allegations that Prime Minister Justin Trudeau and his office attempted to politically interfere in the prosecution of SNC-Lavalin, which if true could put Canada in violation of a multilateral anti-bribery agreement. The 36-country Organization for Economic Co-Operation and Development, which includes the United States, the United Kingdom, France and others said Monday it would closely monitor investigations into the SNC-Lavalin affair by the House of Commons justice committee and the federal ethics commissioner. The OECD Working Group on Bribery is encouraged by these processes, and notes that the Canadian authorities stress that they are transparent and independent, a statement reads. The Working Group recognizes Canadas willingness to keep it fully informed of developments in the proceedings, including at its next meeting in June 2019. Questions continue to swirl around former attorney general Jody Wilson-Rayboulds assertions that she faced inappropriate pressure and veiled threats to prevent criminal proceedings against the Montreal engineering firm, accused of committing bribery and fraud to facilitate business in Libya under former dictator Muammar Ghadafi. As it stands, the firm faces prosecution and a possible 10-year ban on bidding for public contracts in Canada. Trudeau has argued he was looking out for Canadian jobs in discussing the matter with Wilson-Raybould and has admitted no wrongdoing. But the allegations have harmed the prime ministers reputation and garnered international media attention, putting the OECD on alert for a possible violation of its anti-bribery convention. As a party to the anti-bribery convention Canada is committed to requiring prosecutorial independence in foreign bribery cases, according to the statement. In addition, political factors such as a countrys national economic interest and the identity of the alleged perpetrators must not influence foreign bribery investigations and prosecutions. The question of of national economic interest has factored heavily into the controversy. SNC-Lavalin wants a deferred prosecution agreement, a tool for prosecutors that allows companies to pay a large fine and comply with strict rules rather than facing a criminal trial. Wilson-Raybould could legally overturn the Director of Public Prosecutionss decision not to pursue that remedy, by providing written notice to the public. But in September she decided not to, and thats when she said a sustained pressure campaign began. She was demoted from the attorney general position at a cabinet shuffle in January. To offer a deferred prosecution agreement in the first place a measure that the Liberal government inserted into the 2018 federal budget amid a lobbying campaign by SNC-Lavalin prosecutors cannot use the national economic interest as a rationale. Although many have raised the concern that this invalidates Trudeaus jobs argument, Canadas most senior public servant, Michael Wernick, invoked the OECD in arguing last week at a committee hearing that national interest had to do with Canadas performance vis-a-vis other countries, not with its economic performance in general. The OECD has written to Canadian authorities nonetheless, confirming its concerns in this matter. Canada firmly supports the rules-based international order and the multilateral institutions that underpin it. As a founding country of the OECD Anti-Bribery Convention, Canada has a long history of combatting bribery and corruption, including through the OECD, said Adam Austen, a spokesman for Foreign Minister Chrystia Freeland. We acknowledge the concerns raised today by the OECD Working Group on Bribery. We will continue to work with and update the Working Group on the robust and independent domestic processes currently underway in Canada, which the Working Group has recognized and encouraged.
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