Shoal Point Energy Extends Terms on West Newfoundland Exploration Licences

Toronto, Ontario: Shoal Point Energy Ltd. (“Shoal Point” “SPE” or the “Company”) (SHPNF on OTCQX) (SHP on CNSX) announces that it has been able to successfully extend the time period during which it is allowed to drill exploration wells on each of EL 1120 and
EL 1097R. Both of these licences are offshore exploration licences located on the west coast of Newfoundland.