Tuesday, January 31, 2012

Shoal Point Energy Breaks Out !

Hello Reader,

I am using this tidbit to entice more of you to sign up for my email list.  It is easy, there are no costs or obligations and only requires an email to me (Goombarh at gmail.com) with your email address.  I will not reveal the list to anybody else, and my only purpose is to perhaps share some insights.  My aim is entirely selfish for myself, in the hopes that in the future, I may be able to have a small impact on moving stocks with a good pick (well, enough dreaming).  Usually, anything I write about, I already have a small position in, and I am hoping that my writings, together with my research and analysis will lead to good outcomes for everyone involved (meaning me and you).  Also, I would be interested in your comments and your insights, by email, and I do usually respond to your emails, in due course.

Now for my sales pictch, I did do good in my last Goombarh Flash to those on my email list.  Shoal Point has reached .35 cents today.  I issued a Goombarh Flash 35 on Jan 24th when the stock was at .23 cents, an appreciation of about 50%.  This is not a really big deal, as smaller stocks like this do have volatility in moves up and down, but FWIW, this might be a beginning of a much higher movement upwards.

I do not believe the time to sell has come yet, and I see further and stronger price appreciation ahead.  I believe the company is sitting on an oil gusher and the market moves are supporting this idea with higher prices for the stock.

Here is the link to the news release today, announcing coming oil testing:

January 30, 2012 For Immediate Distribution
Shoal Point Energy and Operator DLMC Receive Regulatory Approval to
Drill ahead at Shoal Point 3K39
Toronto, ON: Shoal Point Energy Ltd. (the “Company” or “Shoal Point”) (SHP on CNSX)
announces that Dragon Lance Management Corp. (DLMC), the Operator of the Shoal Point
3K39 well, has received approval to drill ahead in a new borehole (side track 3K39Z) within the
Green Point Formation. The current well, 3K39, has been drilled to 1745 metres and cased to
1711 metres. The new side track borehole, named 3K39Z, will be drilled by setting a whipstock
at approximately 1585 metres and drilling out of casing and drilling ahead to the base of the
Green Point Formation.
As announced previously, the current work will involve a comprehensive testing program, which
will include one open hole test in the new 3K39Z borehole, and then, up to four tests out of the
casing in the existing 3K39 borehole, subject to final regulatory approvals of the testing program.
All tests will occur within the Green Point Formation, and will test the flow potential and
reservoir characteristics of unstimulated, fractured Green Point shales. The entire program is
expected to take up to 60 days to complete.
Shoal Point Energy holds a 100% working interest in the Shoal Point 3K39 cased wellbore as
well as 100% of the 3K-39Z sidetracked wellbore.

Here is the link to the stock chart of Shoal Point Energy:

Good luck and good stock returns for everyone,

Marco Goombarh


  1. Looks like you're on a winner here.

  2. I'm hoping it is not just for now, but also for the longer term.

    Marco G.