Shoal Point Energy is suing the government of Newfoundland and Labrador for de facto expropriating certain exploration lands, among other claims. We seek damages of at least $483,000,000.
This website refers to an NI 51-101 compliant resource study with an effective date of March 31, 2014 by Morning Star Consultants which summarizes estimates of Petroleum Initially in Place (PIIP).
Readers are cautioned that the estimate of remaining recoverable resources (un-risked) includes prospective resources that have not been adjusted for risk based on the chance of discovery or chance of development. If a discovery is made, there is no certainty that it will be developed or, if it is developed, there is no certainty as to the timing of such development. Actual recovery is likely to be less and may be substantially less or zero.
Shoal Point Energy notes that there is no guarantee that it will be successful in respect of its legal action against His Majesty the King in Right of Newfoundland and Labrador (Newfoundland) and even if successful, there is no guarantee as to the amount of damages that Shoal Point Energy may recover, if any.
