Gold Point Energy Corp.

Gold Point Energy Corp.

January 21, 2008 12:05 ET

GP Energy Cases LDG.x-1 Well, Preparing to Test

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2008) - Gold Point Energy ("the Company") (TSX VENTURE:GPE) (FRANKFURT WKN # A0HGQ1) reported today that the Lomas de Guayacan x-1 well of the Martinez del Tineo Oeste Prospect has been cased and cemented based upon a combination of positive indications including oil shows observed during drilling, the results of logging and the results of sidewall coring. Possible pays include both sandstone and fractured carbonate intervals in the Yacoraite formation. The drilling rig is being released by the operator of the well, APCO Argentina Inc., and preparations are being made to bring in a completion rig to perforate and test possible productive intervals.

The Lomas de Guayacan x-1 well has been drilled to a total depth of 2,264 meters in the Cretaceous Lecho formation. It 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.


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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