MONTHLY PROGRESS REPORT MONTH OF SEPTEMBER 2022Provide a general overview and discussion of the activities of management.
Management is actively evaluating new opportunities both in Newfoundland and in other jurisdictions, including Kansas.
The Company entered into an agreement with Shelby Resources regarding three plays in Pratt County, Kansas. Shoal Point is participating as to a 6.5% working interest and has now drilled 2 wells in the first play and 2 wells in the second. The first well is shut in awaiting hookup to a gas pipeline. The second well is flowing oil with no pump assist. Third well undergoing completion and production testing. Fourth well is undergoing completion and production testing.
A fifth well is expected to spud in October.