Mr. Mark Jarvis reports

SHOAL POINT FILES LAWSUIT AGAINST NEWFOUNDLAND AND LABRADOR

Shoal Point Energy Ltd. has filed a statement of claim in the Supreme Court of Newfoundland and Labrador against His Majesty the King in Right of Newfoundland and Labrador. The claim seeks damages of at least $483-million against Newfoundland for de facto expropriating and constructively taking the company's interest in certain exploration lands, among other claims.

Shoal Point is being represented by Randall Block KC, and Andrew Pozzobon from the Calgary office of Borden Ladner Gervais LLP.

About Shoal Point Energy Ltd.

Shoal Point Energy is exploring for oil and gas in its Pratt county project in Kansas and retains its oil and gas interests in the Humber Arm Allochthon play in western Newfoundland.