Shoal Point Energy Ltd. (SHPNF)

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Shoal Point Provides Update on Exploration Plans of Farmin Partner Black Spruce Exploration Corp.Â

Toronto, ON: Shoal Point Energy Ltd. (“Shoal Point” or the “Company”) announces that it is pleased with the progress being made by its farmin partner, Black Spruce Exploration Corp. (“BSE”) with regards to finalizing and obtaining regulatory approval for its exploration plans on Exploration Licence 1070 and also on Exploration Licences 1120 & 1097R.

BSE has been working closely with officials from both the Government of Newfoundland & Labrador (Department of Natural Resources and Department of the Environment) and the Canada Newfoundland & Labrador Offshore Petroleum Board (CNLOPB) to complete the required submissions including updates to environmental assessments and details of drilling and stimulation plans. Both BSE and Shoal Point are fully aware of the importance of a thorough and timely review process.

In addition, BSE has recently begun the process of updating the many stakeholders interested in these plans and this has included meetings with the Corner Brook Board of Trade and television and radio interviews.

See http://www.cbc.ca/thewestcoastmorningshow/episodes/2013/04/10/black-spruce-exploration----fracking-on-the-west-coast/Â; for the link to the CBC radio interview in Corner Brook

See http://ntv.ca/black-spruce-ready-to-begin-drilling-on-shoal-point/Â; for the link to the NTV television interview

Both companies continue to be very excited by the potential of this opportunity and by the benefits it will bring to Newfoundland & Labrador and specifically to the west coast of Newfoundland. The economic benefits will be substantial and will be achieved while conforming to the proven high standards that have been the hallmark of the Canadian Oil & Gas Industry.

high standards for casing all wells
over 200,000 hydraulically fractured wells in Canada … with not one case of drinking water contamination from stimulation fluid. (1)
(1) Source: CAPP (Canadian Association of Petroleum Producers)

http://www.capp.ca/aboutUs/mediaCentre/NewsReleases/Pages/operating-practices-for-hydraulic-fracturing.aspxÂ;

Please continue to check our web site (www.shoalpointenergy.com) for regular updates. Â

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