September 17, 2014
(VANCOUVER, B.C.) - Shoal Point Energy (the “Company) (CNSX – SHP) is pleased to release its second quarter ending July 31, 2014 financial results. The net loss from operations for the three months ended July 31, 2014 was $0.21 million ($0.00 per share) compared to a net loss from operations of $1.15 million ($0.00 per share) in July 2013. The net loss and comprehensive loss for the three months ended July 31, 2014 was $0.21 million ($0.00 per share) compared to a net loss and comprehensive loss of $1.15 million ($0.00 per share) in July 2013.
The Company’s cash position, including term deposits, was $685,579 as compared to $119,152 at July 31, 2013. Working capital was $529,221 compared to the July 2013 working capital of negative $1,004,260.
Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis for the three months ended July 31, 2014 is available on SEDAR at www.sedar.com. All amounts are denominated in Canadian dollars (CDN$).
About Shoal Point Energy
Shoal Point Energy is a public company listed on the CNSX under the symbol “SHP”. The core asset of the Company is oil and gas interests in the Green Point Shale area in Western Newfoundland.
For further information, contact Brian Fiddler
at 416 637 2181, extension 315.