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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

Comment by Pokergodon Nov 04, 2024 2:39pm
53 Views
Post# 36295756

RE:RE:Half billion lawsuit direct to the story

RE:RE:Half billion lawsuit direct to the storyYou're correct that the Newfoundland and Labrador government initially implemented a "pause" on hydraulic fracturing (fracking) to conduct further research and public consultations. In 2014, the government appointed the Newfoundland and Labrador Hydraulic Fracturing Review Panel to assess the socio-economic and environmental implications of fracking in Western Newfoundland. The panel conducted public consultations and released its final report in May 2016, recommending that the moratorium remain in effect until further studies were completed.
NLHFRP
However, since the release of the panel's report, there has been limited publicly available information indicating that the government has undertaken additional research or studies on fracking. This lack of further action has led to concerns among stakeholders about the indefinite nature of the "pause" and its impact on potential resource development in the province.
The distinction between a "pause" and a "ban" is significant. A "pause" suggests a temporary halt pending further investigation, while a "ban" indicates a permanent prohibition. The government's decision to implement a "pause" rather than a formal ban may have been a strategic move to allow flexibility for future policy decisions. However, the absence of subsequent research or policy development has effectively resulted in a prolonged moratorium on fracking activities in the province.

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