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Shoal Point is focused on conventional oil drilling in Kansas
Shoal Point Energy is involved in exploration and development of the Mount Evans prospect in Kansas, a shallow conventional play, and remain committed to exploring our assets in Western Newfoundland, which they believe contain a large unconventional oil resource.
"The cost to drill, complete and equip a well are estimated at three hundred fifty thousand dollars U.S. and we think these wells will payout in less than three months", says CEO, Mark Jarvis.
Shoal's partner Shelby Resources, have been using their exploration methodology in Kansas since 1995, and they've been remarkably successful. They shoot 3D seismic near old producing wells for seismic that has never been shot before. They drill the structures that they see and when they do this, they've never missed. "We know what kind of production to expect and we're gonna go shoot the 3D seismic and drill the box. I'm hoping that this is the beginning of a lot of growth", says Jarvis.
About Shoal Point Energy
Shoal Point Energy Ltd. is a petroleum exploration and development company. The Company entered into a farm in agreement on June 7th, 2019 with Shelby Resources LLC to explore and develop the Mount Evans oil and gas prospect in Kansas. Shelby Resources is a private company which has drilled 230 wells in Kansas since 1995 with an overall success rate of 70%. Shoal Point also remains committed to exploring the Green Point Shale in Newfoundland which it believes is one of the largest undeveloped oil resources in North America.
For more information on Shoal Point Energy Ltd. (SHP:CSE) please fill out the form below.
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