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 a play in Pratt County, Kansas. Shoal Point is participating as to a 6.5% working interest in the first well, which has several potential offset locations and has an option to participate as to 6.5% in two further plays in the same area.
During the most recent month, the Company exercised its option to participate in the second Pratt County prospect and expects to start drilling in early June. The first well of the Pratt County play was spudded March 25. Production casing has been installed and completion operations are expected to commence shortly