Shoal Point updated on the Green Point oil-in-shale project in the Port au Port Bay area in Western Newfoundland:
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
"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.
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