MONTHLY PROGRESS REPORT for the Month of JulyProvide a general overview and discussion of the activities of management.
Management is actively evaluating new opportunities both in Newfoundland and in other jurisdictions.
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 6 wells of which 1 was abandoned. Total production from 3 wells is averaging 22 barrels of oil per day and 50 MCF gas per day.