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Managements Discussion and Analysis 2012-
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=97219
January 11,2013 is a key date-
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Shoal Point Energy Signs a Letter of Intent for a Joint Venture to Explore and Develop its Green Point Shale Licenses, West Newfoundland
Toronto, ON: Shoal Point Energy Ltd. ("Shoal Point" "SPE" or the "Company") (SHP on CNSX) has signed a Letter of Intent regarding a proposed transaction between SPE and Foothills Capital Corp., and its subsidiaries, Black Spruce Exploration Corp. ("BSE"), and Foothills North West Holdings Corp ("FNW").
BSE and FNW intend to enter into Definitive Agreements with SPE on or before January 11, 2013, subject to respective corporate and regulatory approvals, whereby (1) FNW will participate in a private placement for a minimum of 35 million units @ $0.06 (representing a minimum $2.1 million investment, and comprised of common shares and a common share purchase warrant exercisable for 18 months @ $0.15), and whereby (2) BSE will execute a farmin agreement giving it the right to earn up to a 60% interest of SPE's interests in three (3) Exploration Licenses ("EL's") offshore western Newfoundland. The earn in will occur by a staged work program whereby BSE can earn incremental components of interest by drilling on SPE's lands. All wells are contemplated as onshore-to-offshore deviated drill programs, and will be designed to reach depths of up to 3000 metres. BSE will be the Operator of the four wells.
Farmin Program:
Phase I Earning (2013-2014): During this phase BSE will pay 100% of the costs of drilling, testing and completing four wells on ELs 1070, 1120 and 1097R, to earn BSE a 50% interest in SPE's interests. This phase is expected to commence by May 1, 2013.
Phase II Earning (2014-2015): During this phase BSE will pay 100% of the costs of drilling, testing and completing up to eight wells to earn up to an additional 10% of SPE's interest in its three blocks.
The drilling, testing and completion programs contemplated herein will be subject to approvals of the Canada-Newfoundland Offshore Petroleum Board.
Final Earning Position: For clarity, the maximum amount of gross interest that BSE can earn under this agreement is: 60% of EL 1097R, 60% of EL 1070, and 48% of EL 1120 (operated and held by Ptarmigan Energy Inc.).
Application for Significant Discovery Licenses: Upon the successful testing and recovery of petroleum in an exploration well on a particular license, the two parties shall cooperate to apply to the Canada-Newfoundland Offshore Petroleum Board for a Significant Discovery License ("SDL") for that property, which when awarded shall allow the parties to hold, develop and produce from the lands.
About Foothills Capital Corp.
Foothills Capital Corp. ("Foothills Capital"), with offices in Richmond Hill, ON and Calgary, AB, provides investment capital and management expertise to companies engaged in the energy sector. Foothills Capital looks to identify long-term, sustainable revenue-growth companies or opportunities and, where applicable, provide capital, strategic direction and collaborative planning with management in order to maximize returns.
The principals, as a combined group, have worked in the energy sector directly or indirectly for more than 50 years, engaging in transactions that range from $1 million to more than $200 million in value. Foothills Capital, under TRP Holdings, Corp., presently operates in the Bakken shale-oil formation through its subsidiary entity Bakken ND Pipe & Supply, LLC, which is located in Ross, North Dakota.
About Shoal Point Energy Ltd.
Shoal Point Energy Ltd is a Canadian-listed public company (SHP:CNSX) with a large working interest position in a regionally-extensive "tight" oil play within the Cambro-Ordovician Green Point Formation ("Shale") of western Newfoundland. The Green Point is an approximate stratigraphic equivalent, within the northernmost Appalachians, of the well-known Utica Formation currently under development in the United States. The company's technical database, in addition to third-party analysis, indicates that the Green Point contains a very large resource in the oil window, and the Company has dedicated itself, in cooperation with its partners, to bringing this resource to production over the next several years.
SPE's current holdings in western Newfoundland consist of: (1) a 100% working interest in the Green Point shale rights ("shallow rights") in EL 1070, comprising approximately 150,000 acres of prospective shale area, (2) a right to earn an 80% working interest in the "shallow rights" within a nearshore portion of EL 1120, held by Ptarmigan Energy Inc., comprising approximately 67,000 acres, and (3) a 100% working interest in all rights in EL 1097R, comprising approximately 500,000 acres, for a total exposure of approximately 720,000 gross acres to the Green Point "Shale" play.
Shoal Point currently has 302,511,792 common shares issued and outstanding.
Visit our website at www.shoalpointenergy.com
For further information, please contact:
David Black - 416-637-2181 ext 308
Hayley Clift - 416-637-2181 ext 306
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Chinese energy companies are looking for deals all over the planet. It may be a good idea for Shaol to explore this avenue.
Still looking for a JV partner...,but
this was posted on their website Dec.13-
http://www.shoalpointenergy.com/pdfs/121213%20SPE%20Public%20Consultation%20Presentation.pdf
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Anything new here? TIA
New Foundland Radio Interview Nov.12,2012 Regarding Plans-
http://www.cbc.ca/player/Radio/Local+Shows/Newfoundland/ID/2305302409/
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Lots of Info and Insight in these videos-
http://www.shoalpointenergy.com/media.php
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Ones Canadian the other is American
Can someone help me out here. Whats the difference between:
Shoal Point Energy L (SHPNF)
and
Shoal Point Energy Limited (SHP:CNSX)
They list on 2 exchanges???
Thanks for keeping me in the loop! It looks like I need my position by X-mas!
Pescod's latest update on Shoal Point-
http://www.shoalpointenergy.com/pdfs/SHPpescodsePTLE091412.pdf
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The second was drilled last year into the Green Point shale itself, but successfully testing it has been slow-going. Shoal Point hopes that will happen next year, after which it aims to apply to the Canada Newfoundland and Labrador Offshore Petroleum Board for what's known as a significant discovery licence.
Ummm with that kind of news where is everyone?
September 10, 2012
For Immediate Distribution CNSX: SHP
CANADIAN PRESS FEATURES STORY ON SHOAL POINT ENERGY - REPORTED BY NUMEROUS MEDIA OUTLETS INCLUDING CTV, GLOBAL AND CANADIAN PRESS - September 9, 2012.
Small company exploring potentially huge shale oil find in western Newfoundland (Newfoundland-Shale-Oil)
Source: CP - The Canadian Press Sep 09 05:36 By
Lauren Krugel
THE CANADIAN PRESS
CALGARY _ A long, narrow stretch of shale rock that runs along western Newfoundland's coastline might be home to North America's next big oil find.
So believes the junior oil explorer that's snapped up virtually all of the land in the Green Point shale.
But Shoal Point Energy Ltd. (CNSX:SHP) hasn't quite figured out how to economically draw the crude _ some 23 billion barrels of it in place, according to one estimate from the uneven, broken-up rock.
``It's a bit of a wild frontier still,'' said George Langdon, the company's Newfoundland-raised CEO, who has long been fascinated by rocks on the Rock. `
`There's a lot of oil in place. We haven't proven the viability of it yet. But just the sheer number of what could be in place there makes it, to me, one of the significant resources in North America, right up there with the big ones''
As in other shale formations throughout North America, tapping the Green Point will require hydraulic fracturing, or fracking, to unlock the resource. The controversial practice involves injecting a mixture of water, sand and chemicals underground in order to crack the rock. Fracking has unleashed huge supplies of natural gas and oil from shales across the continent, but it also brings with it concerns over the safety of groundwater supplies near drilling sites.
Each shale region is different, so what works in the Pennsylvania Marcellus or the North Dakota Bakken might have to be tweaked to adapt to the Green Point's geologic quirks.
Indeed, it's hard to draw a direct comparison between the Green Point and other North American shales. For starters, it appears to be several times thicker and the rock has been jostled around by moving tectonic plates.
``The shale is really broken up quite a bit and when a shale is broken like that, it can be very difficult to drill,'' said Larry Boyd, director of geoscience at AJM Deloitte, the Calgary consulting firm that Shoal Point hired to evaluate its Green Point potential.
It's difficult, he said, ``just to get a hole that will stay together and won't catch your tools and things like that.'' `
`We're really kind of pioneering something really brand new here.'' The Green Point also extends into the offshore. So far, the wells have been drilled from land. In the future, it may be possible to tap the shale from platforms or barges in the shallow waters of Port au Port Bay.
Shoal Point's activity so far has been at the south edge of the formation, which stretches north along the coast well past Gros Morne National Park.
The Toronto-based company, a small outfit with less than a dozen employees, is far and away the biggest landowner in the Green Point, having amassed more than 280,000 hectares across three blocks of land.
Shoal Point been going it alone and has drilled two wells so far. The first one was actually directed at a deeper oil target and happened upon the oil-soaked shale in the process.
The second was drilled last year into the Green Point shale itself, but successfully testing it has been slow-going. Shoal Point hopes that will happen next year, after which it aims to apply to the Canada Newfoundland and Labrador Offshore Petroleum Board for what's known as a significant discovery licence.
Shoal Point acknowledges it will take a player with much deeper pockets and technical expertise to fully develop its land and has been actively looking for a joint-venture partner to help.
Langdon -who travels frequently between Newfoundland, the financial centre of Toronto and the energy centre of Calgary _ was recently out West to meet with possible partners and set up a data room for them to pore over company information.
``We think this play is big enough, has potential resources enough to attract the largest oil companies in the world,'' said Langdon, a geologist by trade.
``If this play was sitting in Texas or sitting in the western basin, there'd probably be people all over it, but that will happen in time. I think it's potentially a fantastic resource. It could be even of strategic importance _I think it's potentially that big.
'' In some regards, Green Point has an edge over other shale zones. For one, it's believed to contain high-quality light, sweet crude that sells at a premium price.
There is also a deepwater port at Stephenville, not far from Shoal Point's operations, from which the oil could be loaded onto tankers and shipped to any number of lucrative Atlantic markets.
By contrast, Alberta oilsands crude and other landlocked North American sources have been fetching discounted prices due to a dearth of pipelines to coastal waters.
Newfoundland is also no stranger to energy development, with oil currently flowing from the Hibernia, White Rose and Terra Nova developments off the island's eastern shore.
The area where Shoal Point would be drilling is sparsely populated and without much farmland. So as Langdon sees it, fracking is likely to stir less opposition than in areas like Pennsylvania, New York State or the Quebec lowlands.
The region has long suffered from high unemployment. In fact, scores of Newfoundlanders currently travel to western oilfields for work.
``We would like to see that maybe reversed a little bit,'' said Langdon. ``If something like this becomes viable, we've got decades and decades of potential employment and production.'' Though Boyd describes Green Point as a ``world class resource,'' he said ``we're a long way off to really see that it will work.'' ``But it is kind of exciting. A lot of successful plays start out this way with really a lot of unknowns and you've got to go out and drill and keep on drilling until you figure out how it works.''
INDEX: OIL&GAS NATIONAL BUSINESS
About Shoal Point Energy Ltd.
Shoal Point Energy Ltd is a public company earning a 100% interest in Exploration Licence 1070 in the Province of Newfoundland comprising approximately 150,000 acres of oil-in-shale. In addition, Shoal Point has an agreement to earn a net 80% interest in the 67,298 acres of Green Point Shale (shallow rights) of EL 1120 which is owned by Ptarmigan Energy Corp. It also has a 100% working interest in the 502,000 acres in EL 1097R, subject to a 2% gross overriding royalty. The total potential gross acreage in the Green Point Shale is approximately 720,000 acres.
Shoal Point currently has 272,709,463 Common Shares issued and outstanding.
Visit our website at www.shoalpointenergy.com
For further information, please contact:
David Black - 416-637-2181 ext 308
Hayley Clift– 416-637-2181 ext 306
futr
I read that... but I was hoping we should get come clarification on the timeline. Any drilling this year?
The last update was Aug.16-
August 16, 2012 For Immediate Distribution
CNSX: SHP
Shoal Point Announces Plans to Drill and Stimulate a Sidetrack
on Well 3K-39 and Plans for 2 Additional Wells in 2013
Toronto, ON: Shoal Point Energy Ltd. (the “Company” or “Shoal Point”) (SHP on CNSX)
announces that it is proceeding with plans to drill a sidetrack from well Shoal Point 3K-39,
commencing at a depth of approximately 500 metres, on its EL 1070 property in western
Newfoundland. Designated 3K39Y, the sidetrack is planned to reach a true vertical depth of
1500 metres, and is projected to bottom in the Green Point shale formation, approximately 800
metres south of the 3K39 bottomhole location. The large-diameter sidetrack well will be deviated
at a significantly lower angle than previous wells, in order to minimize drilling, logging and
testing concerns in the fractured shales, which were challenges encountered previously in the
3K39 borehole. The new well is expected to test the hydrocarbon reservoir potential under more
favourable (undamaged) conditions.
The Company has recently met with the Regulatory Authorities that have confirmed that the
Company may include hydraulic fracturing as a method of stimulation of the Green Point Shale
formation. This method of stimulation, subject to regulatory approval, will be included as part of
the continuation of the drilling and testing program at the Shoal Point 3K39 well site
In addition, the Company continues its planning of two wells to be drilled in 2013 on its
adjoining lands. The first well proposed at Bottle Cove (town of Littleport) will be deviated
slightly offshore and will drill to an estimated vertical depth of 2350 metres. This well will be the
first test of the Green Point shale on EL 1120, and will earn Shoal Point an 80% working interest
in a 67,298 acre portion of the license, as reported earlier.
The second onshore-to-offshore well is being planned for the town of Sally’s Cove to test the
Green Point shale formation on EL 1097R, where the Company holds a 100% working interest in
roughly 502,000 acres.
Drilling operations will be followed by stimulation and testing operations, subject to regulatory
approvals. The Company plans to optimize the mobilization of drilling, stimulation and testing
equipment to allow maximum cost efficiency by drilling and testing multiple wells during the
same program.
Suite 501, 65 Queen Street West
Toronto, ON M5H 2M5
All operations described herein are subject to final approvals from the regulatory authority.
Joint Venture Data Room
The Company has established a physical Data Room in Calgary, Alberta, Canada to facilitate the
identification of a Joint Venture partner(s) for its west Newfoundland operations. The room will
make available to interested parties all the Company’s proprietary technical and other
commercial data collected during its recent drilling campaigns, in both hard-copy and virtual
forms, and will include work-station capability for related seismic data.
About Shoal Point Energy Ltd.
Shoal Point Energy Ltd is a public company with a 100% interest in the shallow rights of
Exploration Licence 1070 in the Province of Newfoundland comprising approximately 150,000
acres of oil-in-shale. In addition, Shoal Point has an agreement to earn a net 80% interest in the
67,298 acres of Green Point Shale (shallow rights) of EL 1120 which is owned by Ptarmigan
Energy Corp. It also has a 100% working interest in the 502,000 acres in EL 1097R, subject to a
2% gross overriding royalty. The total potential gross acreage in the Green Point Shale is
approximately 720,000 acres.
Shoal Point currently has 272,709,463 Common Shares issued and outstanding.
Visit our website at www.shoalpointenergy.com
View Shoal Point Energy’s recent management interviews at:
www.shoalpointenergy.com/media.php
For further information, please contact:
David Black - 416-637-2181 ext 308
Hayley Clift - 416-637-2181 ext 306
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Aug-2012 Interview with George Langdon, president of Shoal Point
http://www.shoalpointenergy.com/pdfs/Shoal%20ER_August12-LR.pdf
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Seems the initial sidetrack might happen this year-
Although the PR issued today did not spell out a date,but it did announce permits to complete it using hydraulic fracturing are in place.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Shoal Point Announces Plans to Drill and Stimulate a Sidetrack on Well 3K-39 and Plans for 2 Additional Wells in 2013
Toronto, ON: Shoal Point Energy Ltd. (the "Company" or "Shoal Point") (SHP on CNSX) announces that it is proceeding with plans to drill a sidetrack from well Shoal Point 3K-39, commencing at a depth of approximately 500 metres, on its EL 1070 property in western Newfoundland. Designated 3K39Y, the sidetrack is planned to reach a true vertical depth of 1500 metres, and is projected to bottom in the Green Point shale formation, approximately 800 metres south of the 3K39 bottomhole location. The large-diameter sidetrack well will be deviated at a significantly lower angle than previous wells, in order to minimize drilling, logging and testing concerns in the fractured shales, which were challenges encountered previously in the 3K39 borehole. The new well is expected to test the hydrocarbon reservoir potential under more favourable (undamaged) conditions.
The Company has recently met with the Regulatory Authorities that have confirmed that the Company may include hydraulic fracturing as a method of stimulation of the Green Point Shale formation. This method of stimulation, subject to regulatory approval, will be included as part of the continuation of the drilling and testing program at the Shoal Point 3K39 well site
In addition, the Company continues its planning of two wells to be drilled in 2013 on its adjoining lands. The first well proposed at Bottle Cove (town of Littleport) will be deviated slightly offshore and will drill to an estimated vertical depth of 2350 metres. This well will be the first test of the Green Point shale on EL 1120, and will earn Shoal Point an 80% working interest in a 67,298 acre portion of the license, as reported earlier.
The second onshore-to-offshore well is being planned for the town of Sally's Cove to test the Green Point shale formation on EL 1097R, where the Company holds a 100% working interest in roughly 502,000 acres.
Drilling operations will be followed by stimulation and testing operations, subject to regulatory approvals. The Company plans to optimize the mobilization of drilling, stimulation and testing equipment to allow maximum cost efficiency by drilling and testing multiple wells during the same program.
All operations described herein are subject to final approvals from the regulatory authority.
Joint Venture Data Room
The Company has established a physical Data Room in Calgary, Alberta, Canada to facilitate the identification of a Joint Venture partner(s) for its west Newfoundland operations. The room will make available to interested parties all the Company's proprietary technical and other commercial data collected during its recent drilling campaigns, in both hard-copy and virtual forms, and will include work-station capability for related seismic data.
About Shoal Point Energy Ltd.
Shoal Point Energy Ltd is a public company with a 100% interest in the shallow rights of Exploration Licence 1070 in the Province of Newfoundland comprising approximately 150,000 acres of oil-in-shale. In addition, Shoal Point has an agreement to earn a net 80% interest in the 67,298 acres of Green Point Shale (shallow rights) of EL 1120 which is owned by Ptarmigan Energy Corp. It also has a 100% working interest in the 502,000 acres in EL 1097R, subject to a 2% gross overriding royalty. The total potential gross acreage in the Green Point Shale is approximately 720,000 acres.
Shoal Point currently has 272,709,463 Common Shares issued and outstanding.
Visit our website at www.shoalpointenergy.com
View Shoal Point Energy's recent management interviews at: www.shoalpointenergy.com/media.php
For further information, please contact:
David Black - 416-637-2181 ext 308
Hayley Clift - 416-637-2181 ext 306
futr
Shoal Point Announces Plans to Drill and Stimulate a Sidetrack
on Well 3K-39 and Plans for 2 Additional Wells in 2013
Does this mean no drilling til 2013 or just the other 2 wells in 2013? TIA
good for you. i am in the postion of you just have so much money lol
between tag aoiff nzerf and few others i just dont have much left for even lotto play.
but it does seem like a real good buy at the lows right now.
keep us posted
dough
a lotto position...
yesterday's action was all mine.
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wishing there share outstanding was smaller like a tag but do like they own all of it.
you already in?
David Pescod has been following it a long time-
http://www.shoalpointenergy.com/pdfs/david%20pescond.may.3.pdf
And you're right,it is a Clive Stockdale play-
Its a high risk/high reward play.
If they have what some believe,hundred bucks might seem cheap.
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FUTR
whats the story here? is this a clive stockdale play?
you can private me if you want
thanks
dough
June 28 Financing done @ $.14 with $.16 warrants-
http://www.shoalpointenergy.com/news/PR%20-%20June%2028%202012%20-%20Private%20Placement.pdf
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June-2012 Former Minister of Natural Resources Joins Board
http://www.shoalpointenergy.com/news/Shoal%20Point%20PR%20June%2019%202012.pdf
This is a great Interview-
http://www.shoalpointenergy.com/pdfs/Shoal%20Point%20-%20Art%20June%202012.pdf
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Shoal Pt.Website-
http://www.shoalpointenergy.com/index.php
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