Shoal Point 3K-39 Well Update Western Newfoundland

Shoal Point Energy Ltd. ("Shoal Point") (CNSX:SHP) announce takes pleasure in
presenting the following information on the Green Point oil-in-shale project in
the Port au Port Bay area in Western Newfoundland:




   - Drilling: The DLMC et al Shoal Point 3K-39 well is currently at the    
     surface casing point. The surface hole is on target and the next       
     operation will be to run and cement 244.5mm casing to surface. Since   
     the current well is twinning the earlier 2K-39 well, the geology in the
     two wells correlates very closely, as expected.                        
                                                                            
   - Project Research: In order to maximize our understanding of the Green  
     Point shale play, and to plan the current well, the project group has  
     conducted or commissioned a number of investigations. These include    
     outcrop sampling; petro-physical re-interpretation of well logs;       
     geophysical re-mapping; resource estimating and a re-evaluation of the 
     K-39 drillstem test.                                                   
                                                                            
     As part of this program, we have examined closely the information      
     provided by the 2K-39 well. In the course of so doing, it has been     
     noted that certain statements to the effect that 2K-39 flowed some 54  
     bbls of oil into the wellbore are not substantiated by the well        
     records. In fact no oil flowed from the formation into the wellbore and
     the well was at all times under control. The source of the oil which   
     was observed in the mud was from oil liberated by cuttings from the    
     thick oil-bearing shale being penetrated by the drill.                 



"We are pleased that the drilling of 3K-39 is progressing well and confirming
the results of the earlier 2K-39 borehole, and look forward to our complete
evaluation of the Green Point target over the next days and weeks. Our
geological team in Calgary has recently completed a comprehensive review of data
from wells and outcrop in the area of Port au Port Bay and we are very pleased
with the results. 3K-39 is designed to greatly enhance that database and provide
us with key information on the amount of oil that may be recovered from the
unconventional Green Point reservoir" said George Langdon," CEO of Shoal Point
Energy Ltd.


About Shoal Point Energy Ltd.

Shoal Point Energy Ltd is a public company earning an 80.75% interest in
Exploration Licence #1070 in the Province of Newfoundland comprising
approximately 147,000 acres of oil-in-shale. In addition, Shoal has a 14%
interest in a gas prospect in the Province of New Brunswick. Shoal Point
currently has 137,910,330 common shares issued and outstanding.


Visit our website at www.shoalpointenergy.com

Except for historical information contained herein, this news release contains
forward- looking statements that involve risks and uncertainties. Actual results
may differ materially from those currently anticipated due to a number of
factors and risks. The forward looking statements contained in this press
release are made as of the date hereof and Shoal Point Energy Ltd. undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.