VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/10/14

Shoal Point Energy (the "Company) (CSE: SHP)(OTCQX: SHPNF) is pleased to release its third quarter ending October 31, 2014 financial results. The net loss from operations for the three months ended October 31, 2014 was $0.32 million ($0.00 per share) compared to a net loss from operations of $0.38 million ($0.00 per share) in October 2013. The net loss and comprehensive loss for the three months ended October 31, 2014 was $0.32 million ($0.00 per share) compared to a net loss and comprehensive loss of $0.38 million ($0.00 per share) in October 2013.

The Company's cash position was $525,669 as compared to $1,758,694 at October 31, 2013. Working capital was $323,029 compared to the October 2013 working capital of $1,310,643.

Additional information relating to the Company, including the Company's financial statements and management's discussion and analysis for the three months ended October 31, 2014 is available on SEDAR at www.sedar.com. All amounts are denominated in Canadian dollars (CDN$).

About Shoal Point Energy

Shoal Point Energy is a public company listed on the CSE under the symbol "SHP". The core asset of the Company is oil and gas interests in the Green Point Shale area in Western Newfoundland.

Contacts:
Shoal Point Energy Ltd.
Brian Fiddler
416 637 2181, extension 315
604 681 2310 (FAX)
www.shoalpointenergy.com