Shoal Point Energy Ltd. Finalizes Farmin Agreement with Ptarmigan Energy Inc.

Toronto, ON: Shoal Point Energy Ltd. (“Shoal Point”) (SHP on CNSX) is pleased to announce that it has concluded a Farmin Agreement with Ptarmigan Energy Inc. (“PEI”) of St. John’s, Newfoundland and Labrador, with respect to Exploration License #1120, western Newfoundland, as originally announced in a Letter of Intent on February 10, 2011.