Shoal Point Energy Ltd. Begins Trading on OTCQX®
NEW YORK, Dec. 19, 2012 /PRNewswire/ -- OTC Markets
Group Inc. (OTCQX: OTCM), operator of Open, Transparent and
Connected financial marketplaces, today announced that Shoal Point
Energy Ltd. (OTCQX: SHPNF; CNSX: SHP), a Toronto-based petroleum exploration and
development company, has chosen to trade on OTCQX®, the qualified
OTC marketplace with the highest financial standards and
third-party sponsorship.
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Shoal Point Energy began trading today on OTCQX International, a
segment of the OTCQX marketplace reserved for high-quality non-U.S.
companies listed on a qualified stock exchange in their home
country. U.S. investors can find current financial
disclosures and Real-Time Level 2 quotes for the company on
www.otcmarkets.com.
"The OTCQX marketplace offers investor-focused companies an
efficient and effective way to enhance their visibility with U.S.
investors," said R. Cromwell
Coulson, President and CEO of OTC Markets Group. "We
are pleased Shoal Point Energy has chosen to join the other elite
companies trading on OTCQX."
"We are proud to join OTCQX, the highest OTC marketplace," said
George Langdon, President of Shoal
Point Energy. "We are committed to providing our U.S.
investors with timely news and information to help them better
analyze, value and trade our securities."
Soloway Group, P.C. will serve as Shoal Point Energy's Principal
American Liaison ("PAL") on OTCQX, responsible for sponsoring
qualified companies and providing professional guidance on OTCQX
requirements and U.S. securities laws.
Shoal Point Energy is a Canadian-listed public company with a
large working interest position in a regionally-extensive "tight"
oil play within the Cambro-Ordovician Green Point Formation
("Shale") of western Newfoundland.
The Green Point is an approximate stratigraphic equivalent,
within the northernmost Appalachians, of the well-known Utica
Formation currently under development in the United States. The company's
technical database, in addition to third-party analysis, indicates
that the Green Point contains a very large resource in the oil
window, and the company has dedicated itself, in cooperation with
its partners, to bringing this resource to production over the next
several years.
Shoal Point Energy's current holdings in western Newfoundland consist of: (1) a 100% working
interest in the Green Point shale rights ("shallow rights") in EL
1070, comprising approximately 150,000 acres of prospective shale
area, (2) a right to earn an 80% working interest in the "shallow
rights" within a nearshore portion of EL 1120, held by Ptarmigan
Energy Inc., comprising approximately 67,000 acres, and (3) a 100%
working interest in all rights in EL 1097R, comprising
approximately 500,000 acres, for a total exposure of approximately
720,000 gross acres to the Green Point "Shale" play.
Shoal Point Energy trades in the U.S. on OTCQX under the symbol
"SHPNF."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent
and Connected financial marketplaces for 10,000 U.S. and global
securities. Through our OTC Link® ATS, we directly link a diverse
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SOURCE OTC Markets Group Inc.