Shoal Point Energy Releases Second Quarter Financial Statements and Management Discussion and Analysis

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 23, 2015) - Shoal Point Energy (the "Company) (CSE:SHP) is pleased to release its second quarter financial results for the period ended July 31, 2015. General and Administrative expenses for the three months ended July 31, 2015 were $0.20 million compared to General and Administrative expenses of $0.21 million for the three months ended July, 2014. Excluding stock based compensation, General and Administrative expenses for the three months ended July 31, 2015 were $0.14 million.

The Company's cash position was $61,077 as compared to $685,579 at July 31, 2014. Working capital was $33,771 compared to the July 2014 working capital of $529,221.

Additional information relating to the Company, including the Company's financial statements and management's discussion and analysis for the three and six months ended July 31, 2015 is available on Shoal Point's web site at www.shoalpointenergy.com and will be available on SEDAR at www.sedar.com. All amounts are denominated in Canadian dollars (CDN$).

About Shoal Point Energy

Shoal Point Energy is a public company listed on the CSE under the symbol "SHP". The core asset of the Company is oil and gas interests in the Humber Arm Shales play in Western Newfoundland.