First well spudded at Mt. Evans

December 17, 2019

(Vancouver) – Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE: SHP), announced today that the first well at the Company’s Mt. Evans Project has been spudded and surface casing was successfully set at a depth of 1451 feet.

“The crews are now off for the holidays,” said Mr. Jarvis. “The plan is to return to site January 3 and complete drilling and testing of this well. So far, we are running structurally high, which is good news.”

About Shoal Point Energy Ltd.

Shoal Point Energy Ltd. is a public company listed on the CSE exchange under the symbol “SHP”. The company is focused on its Mount Evans project in Kansas and retains its oil and gas interests in the Humber Arm Allochthon play in western Newfoundland.

For further information, please contact:
Mr. Mark Jarvis, Chief Executive Officer, Tel - 416-637-2181 extension 310

The Canadian Securities Exchange (CSE) has neither approved nor
disapproved the contents of this news release.