609 Castle Ridge Road, Suite 335, Austin TX 78746. (512) 579-3560
Thursday, October 11th, 2012 and is filed under Well Updates
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today provided an update on the latest production information from its recently completed East Lusk Federal 15 well #2 in Lea County, New Mexico.
FieldPoint’s President and CEO, Ray Reaves stated, “The last data we provided on this well was through September 24. With one day down timefrom September 25 through October 9, well production in BOPD was 761, 767, 761, 698, 733, 710, 683, 170, 714, 633, 565, 606, 594, 556, and 564 respectively, and we continue to sell, between 400 to 600 mcf per day. We are pleased with this production and will continue to watch this well with interest, but we will now begin to turn our attention more to the drilling of well #3 on this property and our other exploration and acquisition activities.”
As a reminder, FieldPoint owns a 43.75% working interest in well #2, and will own the same percentage of well #3 in section 15 of this field.
About FieldPoint Petroleum Corporation
FieldPoint Petroleum Corporation is engaged in oil and gas exploration, production and acquisition, primarily in New Mexico, Oklahoma, Texas and Wyoming. For more information, please visit www.fppcorp.com.
This press release may contain projection and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Any such projections or statement reflect the company’s current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and natural gas prices and unexpected decreases in oil and natural gas production is included in the company’s periodic reports filed with the Securities and Exchange Commission (at www.sec.gov).