Crown Point Cases 5th Consecutive Argentina Oil Well

- Crown Point Cases 5th Consecutive Argentina Oil Well

Tuesday, August 23, 2011
Crown Point Ventures Ltd.

Crown Point Ventures has drilled and cased the fifth well of the current drilling program as a potential multi zone oil well. The Company also reports a successful work over of EV 19 which is one of the first wells drilled by Crown Point in Argentina.

Drilling Update

EV 27

Crown Point announced that the EV 27 well, the fifth well of the 2011 drilling program, has been logged and cased as a potential multi zone oil well. Logs and samples taken while drilling indicate a total of 23 net meters of potential pay in the Canadon Seco and the Mina el Carmen Formations. Later this week, the completion rig will be moving to the EV 27 location to commence its completion program.

The drilling rig is now moving to a new location EV 30. This will be the first well drilled by Crown Point on the northern side of the El Valle field. The primary target of this well is the historically prolific Caleta Olivia zone.

Completion Update

EV 19

Crown Point re-completed a 3 meter thick zone in the Caleta Olivia in the EV 19 which was originally drilled in 2009. After the re-completion of the EV 19 Caleta Olivia zone it swab tested oil with an oil cut of 70% giving an extrapolated oil production rate of 190 bbls. of oil per day ("BOPD"). Prior to the work over, the well was producing a trace of oil from the Canadon Seco with a 99 per cent water cut.

Drilling Plans 2011-2012

This drilling program is part of a larger 20-25 well program to be conducted at El Valle over the next 24 months. Crown Point is planning to drill two to four more wells at El Valle prior to year end. At Canadon Ramirez the Company plans to drill 2-5 wells on its 100% interest exploitation concession over the next 12 months and one 50% interest well at Laguna de Piedra in the first or second quarter of 2012. At Cerro Los Leones Crown Point anticipates receiving the required environmental permits in the near term and plans to commence the shooting of the 3-D and 2-D programs shortly after receiving these permits. The completion and interpretation of the seismic program is expected to be followed by a 2-5 well 50% interest program in 2012.

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Crown Point Flows Oil at Argentina Well

- Crown Point Flows Oil at Argentina Well

Thursday, August 11, 2011
Crown Point Ventures Ltd.

Crown Point has successfully completed EV 31 which is the fourth well of the 2011 drilling as a successful flowing oil well. To date this year, the Company has drilled, cased and completed four wells as successful oil wells at the El Valle field in the San Jorge Basin in Southern Argentina. Since commencing drilling operations at El Valle, the Company has drilled and completed ten wells with a 100% drilling and completion success rate.

The completion rig will be moving later this week to commence a work over operation on an EV 19 which was one of the first wells drilled by Crown Point at El Valle. Once that work over has been completed we expect to start completion operations on EV 27 which is currently drilling and is the fifth well of the current drilling program.

Completion Update: EV 31

Crown Point successfully completed a 4.0 meter thick section of the Canadon Seco formation in the EV 31 wellbore. This zone was perforated and fracture stimulated. The well during its evaluation period flowed oil through a 20 mm choke at a 24 hour extrapolated rate of 370 barrels per day of 100% oil.

Due to the excellent production test results obtained from the currently completed 4.0 meter Canadon Seco zone in EV 31, the Company has indefinitely deferred the completion of two additional highly prospective zones in the Canadon Seco.

Drilling Plans 2011-2012

This drilling program is part of a larger 20-25 well program to be conducted at El Valle over the next 24 months. Crown Point is planning to drill two to four more wells at El Valle prior to year end. At Canadon Ramirez the Company plans to drill 2-5 wells on its 100% interest exploitation concession over the next 12 months and one 50% interest well at Laguna de Piedra in the first or second quarter of 2012. At Cerro Los Leones Crown Point anticipates receiving the required environmental permits in the near term and plans to commence the shooting of the 3-D and 2-D programs shortly after receiving these permits. The completion and interpretation of the seismic program is expected to be followed by a 2-5 well 50% interest program in 2012.

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Shoal Point to Complete Testing Program at Well 3K-39

- Shoal Point to Complete Testing Program at Well 3K-39

Tuesday, July 26, 2011
Shoal Point Energy Ltd.

Shoal Point announced that casing has now been run to a depth of 1711 meters in the 3K-39 well and is being cemented into place. Once this operation is completed (expected to be in the next few days), the current rig in use will be released and a service rig will be brought in to complete the planned testing program.

The next stage of testing, subject to applicable regulatory approvals, will include a test over the open lower carbonate-rich section of the well to the total depth of 1745 meters, from which promising hydrocarbons were encountered during drilling and logging operations. Thereafter it is planned to perforate the casing and test a series of fractured shale zones (between 1325 and 750 meters) which were identified from log analysis and core data, and which, from a series of open-hole closed chamber drill stem tests, indicate significant natural permeability. These planned tests are expected to begin in mid-August and take up to 3 weeks to complete.

At the same time, the Company is waiting for the results of the core analysis being undertaken by Ingrain Digital Rock Physics Lab in Houston, Texas. These results are expected to complement the log analysis carried out by NuTech Energy Alliance. In addition, discussions have commenced with a major petroleum consulting company to prepare an initial resource estimate and 51-101 report.

Financing

Shoal Point has also closed the second tranche of a financing of common share units for the purpose of completion and testing Well 3K-39 on EL 1070. The total amount raised from both tranches of this financing is $2,035,250.

The first tranche of the financing for $535,500 was comprised of 1,785,000 common share units at $0.30 where each unit includes a common share at $0.30 and a 1/2 common share purchase warrant where a full warrant entitles the holder to acquire an additional common share at a price of $0.40 for 18 months. The second tranche of financing for $1,499,750 included 4,285,000 flow through units where each unit is comprised of a flow through common share at $0.35 and a 1/2 common share purchase warrant where a full warrant entitles the holder to acquire an additional common share at $0.40 for 18 months.

In connection with the total financing of $2,035,250, the Company is paying cash fees totaling $122,115 to registered agents and issuing 364,200 broker warrants. Each broker warrant will entitle the holder to acquire an additional common share at a price of $0.30 for a period of 18 months.

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Shoal Point Confirms Oil in Green Point Shales

- Shoal Point Confirms Oil in Green Point Shales

Tuesday, June 21, 2011
Shoal Point Energy Ltd.

Shoal Point has received the preliminary results of a petrophysical analysis from NuTech Energy Alliance Ltd ("NuTech") for the 3K-39 well in the Green Point Shales in the near offshore Newfoundland which has confirmed a thick section of producible unconventional light oil.

Significant hydrocarbon shows were encountered over a gross interval between the surface casing shoe at 400 meters measured depth and current drilled depth of 1745 meters.

The analysis of the 3K-39 logs reflects NuTech's previous analyses of unconventional potential in the Green Point Shales from the Shoal Point 2K-39 and Long Point M16 wells. It shows a similar thick section of hydrocarbon pay and, for the first time, have enabled interpretation of an abundance of fractures throughout the borehole.

This analysis will be updated once studies on core collected in the well are complete and assimilated. Approximately 26 meters of core is being shipped to Houston for 3D image analysis, which will provide valuable information on porosity, permeability and hydrocarbon saturations, as well as images of the internal geometry of fractures. Other core-based studies including rock properties, pyrolysis, and porosity-permeability are being concluded and incorporated in the data set.

A series of open-hole tests are being conducted, prior to completion and stimulation to assess the natural producibility of the formation; these tests are warranted by the high proportion of naturally fractured rock, (seen in core and the NuTech log analysis), the possibility of zones of naturally occurring ("conventional") porosity and permeability and of the presence of oil shows throughout the borehole. These shows include (1) gas chromatography, indicating the presence of liquids over roughly 70% of the drilled section, (2) blue-white fluorescence (indicating light oil) in drill cuttings and cores, particularly after application of a solvent, and (3) mobile, visible oil in fractured core.

Operations have been made difficult by the tectonized and fractured nature of the reservoir and therefore considerable effort and time has gone into keeping the borehole open and in good condition for coring, logging and testing, which has been the principal cause for the delay in operations to date. However, this is a positive sign for the potential producibility of the resource.

The company now expects to proceed to running casing within a number of days and to retain the well for future re-entry and re-completion as a potential producing well.

George Langdon, President of Shoal Point, commented, "Like any first well in a new basin or new play, the operation has met with challenges related to the nature of the rocks. However, the really good news is that, along with very thick matrix pay sections identified now in several wells by our petrophysical specialists, we are seeing a new and important element - pervasive natural fracturing, recognized on various scales - from very fine "spider-web" geometry, all the way up to large scale faults and fractures seen in the field. This fracturing should provide a natural permeability network to complement the artificial stimulation of the formation, which like all resource plays, will be an important part of its development. Operations are continuing on the well to maximize data recovery, and it is expected that the well will be completed shortly."

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Crown Point Logs Potential Zone at Argentina Well

- Crown Point Logs Potential Zone at Argentina Well

Monday, May 30, 2011
Crown Point Ventures Ltd.

Crown Point has logged the EV-25 well bore and has cased it as a potential multiple zone oil well. This well is the second of a six well drilling program at El Valle in the San Jorge Basin in Argentina. Logs and samples taken while drilling indicate the presence of four principal zones in the Canadon Seco and Caleta Olivia formations with a combined potential pay thickness of 16.5 meters having an average porosity of 22%.

El Valle has three distinct productive sedimentary formations, which, in order of surface to deepest, are the Canadon Seco, Caleta Olivia and Mina el Carmen. Each of these formations may contain multiple discrete hydrocarbon bearing zones. Typically, the Canadon Seco formation produces medium grade oil (API gravity that ranges from 16-22 degrees), while the Caleta Olivia and Mina el Carmen produce light oil (API gravity of approx. 30 degrees).

The drilling rig is now moving to the location of the third well EV-29 - this well has principal geological targets located in the Caleta Olivia, with secondary targets in the Canadon Seco.

This drilling program is part of a larger 20-25 well program to be conducted at El Valle over the next 24 months, the Company plans to drill 2-5 wells 100% interest wells on the Canadon Ramirez exploitation concession in the Province of Chubut over the next 12 months and one 50% interest well at Laguna de Piedra in the first quarter of 2012. At Cerro Los Leones we anticipate receiving the required environmental permits in the near term and expect to commence the shooting of the 3-D and 2-D seismic programs shortly after receiving the environmental permit.

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Shoal Point Updates Ops

Shoal Point Updates Ops

Wednesday, April 20, 2011
Shoal Point Energy Ltd.

Shoal Point reported that the 3K39 well is currently being logged in advance of potential open hole testing, and a 5 1/2" (140 mm) casing string will be run in anticipation of completion for production. 50 meters of cores collected in the well have been shipped for analysis. The well was deviated to an average angle of 56 degrees and lies within 100 metes of the previously drilled 2K39 well. Further results are expected to be released in May, 2011.

Shoal Point 2K39 and Long Point M-16

Shoal Point has received the results of geological and technical studies carried out by independent consultants on data from its EL 1070 property in western Newfoundland. Principle among these are petrophysical (log analysis) studies on pre-existing wells by NuTech Energy Alliance of Humble, Texas. In these studies, digital data sets from open hole and cased hole logging runs were provided to NuTech, who specialize in the analysis of bypassed pay and unconventional reservoirs. For locations of the 2K-39 and M-16 wells, please refer to the attached map.

Crown Point Resumes Drilling Ops in Golfo San Jorge Basin

Crown Point Resumes Drilling Ops in Golfo San Jorge Basin

Tuesday, April 19, 2011
Crown Point Ventures Ltd.

Crown Point advised that drilling and production operations have resumed at El Valle in the Golfo San Jorge Basin. The labor dispute which forced the Santa Cruz basin wide shut down has been resolved and normal operations in the basin are resuming. Crown Points drilling operation has resumed and today is recommencing production operations.

Crown Point's first well of a 6 well program has been drilled to total depth and is waiting to be logged. Once logging has been completed Crown Point expects to case the well as a potential oil well. The five remaining wells will be drilled sequentially.