Gold Point Energy Corp.

Gold Point Energy Corp.

November 26, 2007 19:56 ET

GP Energy Provides Argentina Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Gold Point Energy Corp. (TSX VENTURE:GPE)(FRANKFURT WKN # A0HGQ1) -

Gold Point Energy ("the Company") reported today that the Pena Azul x-1 well on the Estacion Pizarro Oeste Prospect has been plugged and abandoned based upon the recommendation of the Project Operator. Drilling operations are expected to commence on the Lomas de Guayacan x-1 well on the Martinez del Tineo Oeste Prospect by early December. 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. Results of the second well are expected by late December.

The two exploration wells are part of the farm-in obligations associated with an agreement dated October 4, 2006 that GP Energy executed with Antrim Argentina S.A. ("Antrim") and APCO Argentina Inc. ("APCO"), the Project Operator.

Antrim Argentina is a wholly-owned subsidiary of Antrim Energy Inc. (TSX:AEX)(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, a member of the Grosso Group, is 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 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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