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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
Comment by tickerhiton Jun 03, 2020 1:34pm
85 Views
Post# 31107578

RE:MONTHLY PROGRESS REPORT for the month of MAY

RE:MONTHLY PROGRESS REPORT for the month of MAYLooks like it may take longer as ststed here.......

At the Mount Evans project in Kansas, the company continues to pump the lower, secondary zone in its first well. The goal is to ascertain whether the reservoir is a water FORM 7 – MONTHLY PROGRESS REPORT November 14, 2008 Page 2 drive or a solution gas drive, and this would also provide valuable information about the upper, primary zone prior to completing it. The company is pumping very slowly in case it is a water drive, and at current oil prices, there is little incentive to take the risk of increasing production. Consequently, it may be another two months or more before we have the information necessary to increase the pumping rate. When on production, the oil cut has ranged between 7 and 35 barrels per day. There is no incentive to move up the hole and complete our primary zone or to drill any more wells until oil prices improve.
Bullboard Posts