Shoal Point Announces Options

July 21, 2023

Shoal Point Energy Ltd. (CSE - SHP) ), today announces that, pursuant to its Stock Option Plan, the Company will be granting 2,240,000 stock options to certain directors, employees, officers and consultants. The options will be exercisable at $0.05 per share with a 5 year term from the date of grant.

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 oil and gas exploration in Kansas and retains its oil and gas interests in the Humber Arm Allochthon play in western Newfoundland. The Company is also actively evaluating new opportunities.

On behalf of Directors,

Shoal Point Energy Ltd.

"Mark Jarvis"

Mark Jarvis, CEO

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

Neither The Canadian Securities Exchange (CSE) nor its Regulation Services Provider has neither approved nor disapproved the contents of this news release.