December 19, 2012 (Investorideas.com energy stocks newswire) OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Shoal Point Energy Ltd. (OTCQX: SHPNF; CNSX: SHP), a Toronto-based petroleum exploration and development company, has chosen to trade on OTCQX®, the qualified OTC marketplace with the highest financial standards and third-party sponsorship.
Shoal Point Energy began trading today on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies listed on a qualified stock exchange in their home country. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"The OTCQX marketplace offers investor-focused companies an efficient and effective way to enhance their visibility with U.S. investors," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "We are pleased Shoal Point Energy has chosen to join the other elite companies trading on OTCQX."
"We are proud to join OTCQX, the highest OTC marketplace," said George Langdon, President of Shoal Point Energy. "We are committed to providing our U.S. investors with timely news and information to help them better analyze, value and trade our securities."
Soloway Group, P.C. will serve as Shoal Point Energy's Principal American Liaison ("PAL") on OTCQX, responsible for sponsoring qualified companies and providing professional guidance on OTCQX requirements and U.S. securities laws.
Shoal Point Energy is a Canadian-listed public company with a large working interest position in a regionally-extensive "tight" oil play within the Cambro-Ordovician Green Point Formation ("Shale") of western Newfoundland . The Green Point is an approximate stratigraphic equivalent, within the northernmost Appalachians, of the well-known Utica Formation currently under development in the United States . The company's technical database, in addition to third-party analysis, indicates that the Green Point contains a very large resource in the oil window, and the company has dedicated itself, in cooperation with its partners, to bringing this resource to production over the next several years.
Shoal Point Energy's current holdings in western Newfoundland consist of: (1) a 100% working interest in the Green Point shale rights ("shallow rights") in EL 1070, comprising approximately 150,000 acres of prospective shale area, (2) a right to earn an 80% working interest in the "shallow rights" within a nearshore portion of EL 1120, held by Ptarmigan Energy Inc., comprising approximately 67,000 acres, and (3) a 100% working interest in all rights in EL 1097R, comprising approximately 500,000 acres, for a total exposure of approximately 720,000 gross acres to the Green Point "Shale" play.
Shoal Point Energy trades in the U.S. on OTCQX under the symbol "SHPNF."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX® - The Intelligent Marketplace for the Best OTC Companies; OTCQB® - The Venture Marketplace; and OTC Pink® - The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC registered ATS.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.