Shoal Point 3K-39 Well Update

Shoal Point Energy Ltd. ("Shoal Point") (CNSX:SHP) announce that it has been
informed by the Operator, Dragon Lance Management Corporation ("DLMC") that
operations have commenced on the Shoal Point 3K-39 well in Western Newfoundland.
The 3K-39 well will be directionally drilled from an onshore surface location on
the northern tip of Shoal Point to a subsurface target beneath Port au Port Bay
and is designed to test the Green Point Oil-in-Shale Resource Play in Permit EL
1070.


Drilling, using the Nabor's #112 drill rig, is estimated to take between 20 and
30 days. The planned total drilled depth of the 3K-39 well is 2200m (1450m total
vertical depth). The drilling of the 3K-39 well will be conducted as a "tight
hole".


About Shoal Point Energy Ltd.

Shoal Point Energy Ltd is a public company with 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 137,866,330 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.