Gold Point Energy Corp.
TSX VENTURE : GPE

Gold Point Energy Corp.

November 07, 2006 08:00 ET

GP Energy Cancels North Sea Farm-In

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2006) -

Gold Point Energy Corp. ("GP Energy") (TSX VENTURE:GPE)(Frankfurt WKN # A0HGQ1) reports that after further review it has decided not to proceed with the farm-in of UK North Sea Petroleum Production Licence P.1244, Blocks 48/2b, and 48/3b Deltaic Systems Limited of Surrey, England ("Deltaic"). Instead, the Company will continue to focus on oil and gas exploration and development opportunities in South America.

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.

ON BEHALF OF THE BOARD

Mr. Jack Steinhauser, President & CEO

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