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Bullboard - Stock Discussion Forum 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... see more

CSE:SHP - Post Discussion

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Post by Hearne50 on Jun 28, 2021 11:28am

Excellent

"Along with our partners, we have done extensive analysis of our first two wells at Mt. Evans," said Mr. Jarvis. "Our conclusion is that this third location, which is on a separate structure, presents an attractive risk/reward profile. We are also actively evaluating other plays in Kansas, which we consider an excellent jurisdiction."

AGREED. I like the last sentence!!!!!!  
Comment by barryt34 on Jun 28, 2021 12:02pm
Don't forget we hit oil on the first well, it's suspended 
Comment by Hearne50 on Jun 28, 2021 1:57pm
Barry the companies must have this worked out regarding Well #1 as they can generate oil revenue from this.    Looking at further exploration in Kansas is going to require financing!!
Comment by Lennoc on Jun 28, 2021 2:41pm
If SHP hits oil this time they will have some cash flow. Use this cash to drill future wells. This would be the best path forward. They may need to raise some cash to get a jump on the next well but I would think that would be it.
Comment by barryt34 on Jun 28, 2021 3:15pm
If shoal point hits oil on the next well they will be a wash in cash from options and warrents,  they will not need to do another private placement.  
Comment by barryt34 on Jun 28, 2021 5:03pm
Sorry they will not need to do a private placement unless they go into a bigger play.  We should have millions in warrents and options if we hit oil on the next well.  
Comment by barryt34 on Jun 28, 2021 5:04pm
My guess is around 1.6 million or so. 
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