SHOAL POINT ENERGY CONCLUDES DEFINITIVE FARMOUT AGREEMENT WITH BLACK SPRUCE EXPLORATION FOR ITS GREEN POINT SHALE LICENSES, WEST NEWFOUNDLAND
Shoal Point Energy Ltd. (SPE) has concluded a farm-out agreement with Black Spruce Exploration Corp. (BSE), a subsidiary of Foothills Capital Corp. This agreement follows a letter of intent between the two parties as announced on Dec. 17, 2012. The agreement contemplates the continued exploration and development of SPE’s approximately 720,000 gross acres of Green Point “oil-in-shale” rights in offshore west...
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