Shell of the Last Kappa

Oracle Text

3, T: Exile target instant or sorcery spell that targets you. (The spell has no effect.)

3, T, Sacrifice Shell of the Last Kappa: You may cast a card exiled with Shell of the Last Kappa without paying its mana cost.

Card Rulings

12/1/2004 Shell of the Last Kappa’s first ability can only target a spell that targets you.
12/1/2004 Exiling a spell prevents that spell from resolving, but it doesn’t technically “counter” anything. This means that Shell of the Last Kappa can exile spells which “can’t be countered.”