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FieldPoint Petroleum

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FIELDPOINT PETROLEUM ANNOUNCES SALE OF NON-CORE ASSETS IN NEW MEXICO

Tuesday, June 6th, 2017 and is filed under Financial Updates, Management Updates

AUSTIN, TX – June 5, 2017– FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced that it has completed the sale of 240 net acres in Lea County, New Mexico, held by the North Bilbrey “7” Federal No. 1, to a private E&P company. FieldPoint will retain its 50% net working interest in the only producing well bore on the lease. Additionally, the Company sold all net rights in the Cronos Fee, Mercury Fee, and Hermes Fee natural gas wells and leases in Eddy County, New Mexico, with combined net production of approximately 3.2 MCFE per day. Total sales price for both assets was $2,145,000.

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