Shoal Point Energy

摘要

Shoal Point Energy Ltd. (SPE) and joint-venture partner Canadian Imperial Venture Corp (CIVC) have recognized a very extensive oil-in-shale play at Shoal Point in Port au Port Bay (2K39 well), in the shallow offshore of western Newfoundland (EL 1070). The prospective formation is the Green Point shale, which is an organic-rich, deep-water deposit of Ordovician age, formed in the Appalachian foreland. The 150,000 acre land parcel can be developed almost entirely by land-based drilling. This play is analogous to other shale liquids plays which are currently being pursued by majors in North America and elsewhere. The company is currently drilling the 3K39 well which is designed to collect maximum information for shale evaluation. After this well is finished, the working interest in EL 1070 will be SPE 80.75%, CIVC 19.25%.