Shoal Point Files Lawsuit Against Newfoundland and Labrador

Rhea-AI Summary

Shoal Point Energy Ltd. (CSE: SHP) files a $483 million lawsuit against Newfoundland for de facto expropriation and constructive taking of exploration lands.

Vancouver, British Columbia--(Newsfile Corp. - November 24, 2023) - Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE: SHP) ("Shoal Point" or "the Company"), announced today that the Company has filed a Statement of Claim in the Supreme Court of Newfoundland and Labrador against His Majesty the King in Right of Newfoundland and Labrador (Newfoundland). The claim seeks damages of at least $483,000,000.00 against Newfoundland for de facto expropriating and constructively taking the Company's interest in certain exploration lands, among other claims.

Shoal Point is being represented by Randall Block, K.C., and Andrew Pozzobon from the Calgary office of Borden Ladner Gervais LLP (BLG).

About Shoal Point Energy Ltd.

Shoal Point Energy Ltd. is a public company listed on the CSE exchange under the symbol "SHP". The company is exploring for oil and gas in its Pratt County project in Kansas and retains its oil and gas interests in the Humber Arm Allochthon play in western Newfoundland.

For further information, please contact:
Mr. Mark Jarvis, Chief Executive Officer
Tel - 416-637-2181 extension 310

The Canadian Securities Exchange (CSE) has neither approved nor disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188623

FAQ

What is the latest announcement from Shoal Point Energy Ltd. (SHP)?

Shoal Point Energy Ltd. (CSE: SHP) has filed a $483 million lawsuit against Newfoundland for de facto expropriation and constructive taking of exploration lands.

Who is representing Shoal Point Energy Ltd. (SHP) in the lawsuit?

Shoal Point Energy Ltd. (CSE: SHP) is being represented by Randall Block, K.C., and Andrew Pozzobon from the Calgary office of Borden Ladner Gervais LLP (BLG).

What is the amount of damages being sought by Shoal Point Energy Ltd. (SHP) from Newfoundland?

Shoal Point Energy Ltd. (CSE: SHP) is seeking damages of at least $483,000,000.00 from Newfoundland for de facto expropriating and constructively taking the Company's interest in certain exploration lands.

Where has Shoal Point Energy Ltd. (SHP) filed the Statement of Claim?

Shoal Point Energy Ltd. (CSE: SHP) has filed the Statement of Claim in the Supreme Court of Newfoundland and Labrador.