Vancouver British Columbia--(Newsfile Corp. - April 13, 2023) - Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE: SHP), announced today that the initial well of the Pratt County project has been connected by a spur line into Superior Pipeline's gathering system and gas production has commenced.

"We are currently producing gas on a restricted choke size at about 250 MCF per day," said Mr. Jarvis. "Our expectation is that as we gradually produce the gas cap, we will start to see oil produced and the oil cut will increase as gas production declines."

About Shoal Point Energy Ltd.

Shoal Point Energy Ltd. is a public company listed on the CSE exchange under the symbol "SHP". The company is focused on oil and gas exploration in Kansas and retains its oil and gas interests in the Humber Arm Allochthon play in western Newfoundland. The company is also actively evaluating new opportunities.

For further information, please contact:
Mr. Mark Jarvis
Chief Executive Officer
Tel - 416-637-2181 extension 310

The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this news release.