Good Afternoon,
Crews are back to work as of Monday at Mount Evans in Kansas for Shoal Point Energy (SHP/SHPNF). I'm told we could hear something as early as this weekend if oil starts gushing from one of the shallower targets. But keep in mind, this first well has SIX target formations to tap into! In my view, anything above 100 barrels per day is a success with 150 being quite good and 200 a home run.
The entire reasons why we bought into this deal will start to reveal their potential within days. If this first well is economic, we should see .30-40 cents per share quite soon in SHP. If more than one formation pays off and well #2 hits as well, the stock should be .50-.75 by the end of Q1. Investors should accumulate the low .20's in case this is the last shot to do so.
Yesterday the stock popped back well above its 50 day moving average, which is bullish activity.
