Big Oil in Canada

Greetings!

As the game of periodic table bingo reaches the blackout stage, speculators are scratching their heads as to what comes next. I'm of the opinion that the "old fashioned" precious metals are going to shine this fall. Corb Lund has composed a catchy collapsitarian anthem that you can hum along to...hopefully as value of your hoard of precious metals grows.

Corb Lund - Gettin' Down on the Mountain

All it takes is a Bernanke press conference...

Shoal Point Energy (SHP:CNSX) showed some signs of life this week on the back of a Canadian Press article about the company's enormous Green Point Shale prospect in Western Newfoundland - read Is Newfoundland home to Canada's next big oil find?

This play is big, Shoal Point has over 700,000 acres to explore. The Green Point source rock is tectonically thickened in places to excess of 2000m. AJM Deloitte has estimated the oil in place to range from 23.5 Billion (P50) to 49.5 Billion (P10) PIIP barrels. That's a big prize. Shoal Point has set up a data room in Calgary and is looking for a partner to help bring this play into production. Here is a link Shoal Point Videos. Shoal Point's Toronto offices are opposite City Hall and you can see where the inspiration for Encana's The Bow came from in a few of the videos.

Sites

Until next time!

Jim Letourneau
Editor
Big Picture Speculator

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I may hold positions in the companies mentioned but my holdings may change at any time without notice. I currently own Shoal Point Energy shares and they are an advertiser.

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