THE PLAN

Shoal Point Energy has earned a 65% working interest of an 80% net revenue interest in a 121 square mile Area of Mutual Interest. The first well has been drilled and production casing has been set. Completion operations to start before the end of January. Production of first well to be evaluated, second well tentatively scheduled for mid March.

SUMMARY FOR MT. EVANS

3D seismic has been shot, analyzed and an inversion has been performed on the data. Three Ɵer one target structures have been idenƟfied, plus other areas of interest that require further analysis. The first well has been drilled and based on log analysis and oil flow in drill stem tests, this well looks similar to historic producing wells in the area. ProducƟon casing has been set with compleƟons to follow. We expect to be in producƟon during the month of February 2020. Our plan is to conƟnue drilling the Mt. Evans project, financed out of cash flow. We are also evaluaƟng other projects in the US.