Tuesday, May 28th, 2013 and is filed under Uncategorized
FieldPoint Petroleum Corporation (NYSE AMEX: FPP), today announced the release of a research report on the Company, by Mr. Paul Silver, Director of Research for Wall Street Resources, Inc. The 24-page report includes detailed information on the Company’s business model, products, industry, valuation,
management and risks.
The free report is available at: www.WallStreetResources.net/FieldPoint.asp
About FieldPoint Petroleum Corp www.fppcorp.com
FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming. Read More
Wednesday, May 15th, 2013 and is filed under Financial Updates
FieldPoint Petroleum Corporation (NYSE AMEX:FPP) announced today its first quarter financial results for the three months ended March 31, 2013. Ray Reaves, President and CEO of FieldPoint, stated, “We consider this to be a very good quarter even though revenues were lower than for the same period in 2012. This is due primarily to a combination of lower oil prices in Q1 2013, and the boost in production that we experienced from our newly completed well in the East Lusk Field in 2012. Wells of this type are known to come on line with a flush production (in our case, over 800 bpd) and then decline until they stabilize at a much lower rate. We did not have the drilling or acquisition activity to lift our first quarter 2013 production to last year’s level, although we are hopeful that our current activities will produce results similar to our 2012 experience before year end.” Read More
Monday, May 13th, 2013 and is filed under Drilling Announcements
FieldPoint Petroleum Corporation (NYSE/MKT: FPP) announced today that, with its industry partners, drilling has begun on the Irby #1 vertical Wilcox test well that will be drilled to a depth of approximately 8,900 feet to the prospective reservoir. If successful, the well should be drilled and completed within the next 60 to 90 days and FPP will own a 10% working interest in the well.
FPP also announced that it has signed an operating agreement with Cimarex Energy Co, to drill a third horizontal well that will target the Bone Spring formation on its East Lusk Federal Section 15 property located in Lea County, New Mexico. If successful, there is the possibility of drilling a fourth well on this property by the end of the year. Total cost for each well will be approximately $7,000,000. Read More