Shoal Point Energy Ltd C.SHP

Monthly progress report

[barryt34]

Provide a general overview and discussion of the activities of management.

At the Mount Evans project in Kansas, the company and its partners plugged and abandoned their second well in the Mount Evans project as a dry hole. We are currently evaluating all data from the second well to decide whether to attempt a third well or to abandon the project.

Management is actively evaluating new opportunities both in Newfoundland and in other jurisdictions. Management has submitted a letter to the Minister of Natural Resources in Newfoundland and Labrador (NL) expressing interest in the bidding on some onshore oil

FORM 7 – MONTHLY PROGRESS REPORT

November 14, 2008 Page 1

       

and gas acreage. Management is currently evaluating the area of mutual interest (“AMI”) in Mount Evans Prospect in Kansas

[Lennoc]

The report does shed any light on the current situation. An announcement should be released on the path forward soon.

[HIKER2013]

feels good right now. Market  5.5 to 6.0 looks stable now, and in anticipation. HR

[barryt34]

Yes and anoy is bidding. Let's hope we see a third well. 

[barryt34]

But also a big sell wall at .06. Let hope we get news soon. This is a emotional roller coaster. 

[AisAmang]

On March 15th, nearly 3.5 million shares traded between the current bid and the ask. The ask is peanuts, the market just needs some damned guidance. I think the delay in releasing the monthly report was intentional to see if any more shares could be wrung out in this range. Jarvis doesn't strike me as someone who doesn't think ahead. They've had over a year to plan out the ifs of the

[barryt34]

Yes it's peanuts but someone is picking away.  You nibble away at the shares not to cause attention.  

[DreaminJim]

Well I have to say they have my sharees now. I am only holding enough to enjoy a nice diunner out if they ever become successful.  Failure after failure after falure and I juast can't see an upside anymore. Everytime it sounds like things are going to turn around, they fall flat. You would think they tried dfrilling the two best options they had, and nothing. I admire those who still

[barryt34]

If you understand UP and how the company came together you might be still holding.  At the same time I don't blame you for selling.  I'm holding. I still trust who is backing this company and I understand how they built ultra.  Emotional roller coaster.  I'm staying because of my research.   If they don't drill another well in Kansas it will damage my