Gold Point Energy Corp.
TSX VENTURE : GPE

Gold Point Energy Corp.

January 16, 2008 18:36 ET

GP Energy Reaches TD on Second Argentine Well

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2008) - Gold Point Energy ("the Company") (TSX VENTURE:GPE)(FRANKFURT WKN # A0HGQ1) reported today that drilling operations on the Lomas de Guayacan x-1 well of the Martinez del Tineo Oeste Prospect have reached total depth at 2,264 meters in the Cretaceous Lecho formation. Oil and gas shows were observed in the well during the drilling of the Yacorite formation, which is the primary objective. The operator of the well, APCO Argentina Inc., plans to proceed with logging and evaluation of the well.

The Lomas de Guayacan x-1 well is the second of two exploratory wells to be drilled on the Capricorn License in Salta Province of Northern Argentina in 2007-08. The two exploration wells are part of a farm-in agreement dated October 4, 2006 between GP Energy, Antrim Argentina S.A. and APCO Argentina Inc.

Antrim Argentina is a wholly-owned subsidiary of Antrim Energy Inc. (TSX:AEN)(AIM:AEY). APCO Argentina Inc. is majority-owned by The Williams Companies, Inc. (NYSE:WMB) and listed and trade on the NASDAQ stock exchange under the symbol APAGF.

GP Energy is engaged in the development of oil and gas projects in Argentina and Colombia, South America. The Company has experienced technical and management professionals, which provide a high level of expertise to oil and gas project development, as well as good access to industry contacts and quality projects.

ON BEHALF OF THE BOARD

Jack S. Steinhauser, President & CEO

Certain statements contained in this press release may be considered as "forward looking". Such "forward looking" statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

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

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