Mr. Mark Jarvis reports

CLARIFICATION TO CEO LETTER

Shoal Point Energy Ltd. is clarifying a part of the chief executive officer's letter released yesterday. The statement was made that, "Total expenses to maintain our CSE listing amount to over $100,000 per year." Shoal Point clarifies that listing fees are only part of that total, which includes legal fees, accounting fees, audit fees and more.

It also wishes to clarify that the next likely step will be a cease trade order, which will ultimately lead to a delisting if the default is not corrected.

About Shoal Point Energy Ltd.

Shoal Point Energy is suing the government of Newfoundland and Labrador for at least $483-million for "de facto expropriation" or "constructive taking" of its rights to develop its oil and gas interests in western Newfoundland.