Sunday, September 25th, 2011 and is filed under Drilling Announcements
FieldPoint Petroleum Corporation (NYSE/AMEX: FPP) announced in August that drilling had begun on the East Lusk 15 in Lea County, New Mexico. FieldPoint stated that the estimated time required for drilling and completion of this well was approximately 60 days. The Company has reported today that unexpected difficulties in the drilling operation have caused delays.
FieldPoint’s President and CEO, Ray Reaves stated, “The unpredictable nature of drilling is unfortunately a part of the oil and gas industry. Our drilling partner, Cimarex Energy, is one of the best in the industry at completing wells in the Bone Spring formation and we are both still very excited about the prospects that this first well holds. I will, of course, share additional information with you as this drilling project progresses.” Read More