Shoal Point Abandons Mount Evans Well

Vancouver, British Columbia--(Newsfile Corp. - September 13, 2021) - Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE: SHP) announced today that Shoal Point and its partners have elected to plug and abandon the Wells Trust #1 - 1 at the Mount Evans project in Kansas at a total depth of 4,415 feet.

Shoal Point has a 65% working interest in the project and privately held Shelby Resources has a 35% working interest.

"The Mount Evans project has proved to be a real disappointment," said Mr. Jarvis. "However, we think Kansas is a great jurisdiction and we intend to pursue other opportunities in the state. We will keep shareholders informed about further developments."

For further information, please contact:
Mr. Mark Jarvis, Chief Executive Officer
Tel - 416-637-2181 extension 310

The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this news release.

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