Gold Point Energy Corp.

Gold Point Energy Corp.

January 25, 2007 06:00 ET

GP Energy Confirms Commercial Flow Rates in South Dakota

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 25, 2007) - Gold Point Energy Corp. ("GP Energy") (TSX VENTURE:GPE)(FWB:WKN # A0HGQ1) is pleased to announce the gas field discovery at the South Cedar Creek project that was previously reported at the Spyglass State #3-30 well (see Dec.7-06 news release) has now been confirmed by well testing and is yielding commercial flow rates.

The Shannon sand pay zone found in the well is comparable to that found at a field located twelve miles to the west of the Company's property, which has had cumulative production of 23 BCF of gas(i). Drilling has commenced on the Spyglass State #4-35 well that is located on the Company's leasehold and is also targeting the Shannon pay zone.

"The results of the #3-30 well are very significant because they confirm our ability to accurately target the Shannon pay zone using our proprietary seismic method. The #4-35 well is targeting a separate Shannon sand accumulation and would also be a new field discovery if successful. Success with our #4-35 well would confirm not only our ability to find gas fields with the seismic, but would also demonstrate the significant size potential of the Shannon gas play on our leasehold. Our seismic method has identified numerous Shannon development locations," stated Jack Steinhauser, President & CEO.

The State #3-30 well located in Section 30, T18N-R4E, and the State #4-35 located in Section 35, T18N-R4E, Harding County, South Dakota are the fourth and fifth obligation wells of five that Spyglass Cedar Creek, LP of San Antonio, Texas ("Spyglass") has committed to drill in the 63,500 acre South Cedar Creek Anticline Project. Spyglass is the operator of the Project. The Company has a 30% interest in the first five obligation wells, and a 47.5% working interest in the balance of any development.

GP Energy, a Grosso Group company, is a Canadian-based company engaged in the development of oil and gas projects in North and South America. The Company has experienced technical and management teams which, when combined with the business development and financial acumen of the Grosso Group, provides a high level of expertise and access to an outstanding network of contacts throughout the industry. GP Energy is poised to leverage this expertise and network into early exploration successes.

(i) Cumulative West Short Pine Hills Field production according to State of South Dakota statistics.


Mr. Jack Steinhauser, President & CEO

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

2007 Number 2

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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