Mr. Mark Jarvis reports

SHOAL POINT ANNOUNCES OPTIONS

Pursuant to its stock option plan, Shoal Point Energy Ltd. will be granting 2.24 million stock options to certain directors, employees, officers and consultants. The options will be exercisable at five cents per share with a five-year term from the date of grant.

About Shoal Point Energy Ltd.

Shoal Point Energy is a public company listed on the Canadian Securities 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.