Tuesday, June 25th, 2013 and is filed under Drilling Announcements
FieldPoint Petroleum Corporation (NYSE/AMEX: FPP) announced today that drilling is well underway on the East Lusk 15 Federal #3 in Lea County, New Mexico. The Company has an operating agreement with Cimarex Energy Co, (NYSE: XEC) www.cimarex.com, to drill this well that will target the Bone Spring formation.
As with the Company’s two other wells on this property, this horizontal well is planned to be drilled vertically to a depth of approximately 9,500 feet, to the Bone Spring formation, and approximately 4,000 to 5,000 feet laterally within the formation to the bottom hole location. Drilling has currently passed 4,500 feet in the vertical portion. Read More
Thursday, June 20th, 2013 and is filed under Management Updates
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today that its Board of Directors has appointed Philip H. Roberson to serve as COO/CFO. FieldPoint’s Executive Chairman, Roger D. Bryant, stated, “For some time, Phil has been collaborating with our founder, Ray Reaves, regarding various drilling projects and field operations. Consequently, he is in an excellent position to see that none of our initiatives lose momentum. Additionally, because of his securities background combined with being a licensed CPA, he is able to take on the added duties of CFO. This should ensure the continued timeliness of our financial reporting and SEC filings. Phil is a great addition and we are very pleased to have him join the team.”
Mr. Roberson added, “I had a great relationship with Ray, and great respect for the company he built. I sincerely appreciate the opportunity to contribute to its future growth.” Read More
Monday, June 10th, 2013 and is filed under Management Updates
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) The Board of Directors sadly announced today the untimely passing of its Founder, President, and CEO, Mr. Ray D. Reaves, who died in an automobile accident in Bastrop County, Texas.
In an emergency meeting of the board called on June 8, action was taken to put in motion a succession plan that was developed several years ago to be used in the event of such an occurrence. As part of the plan, the board elected Mr. Roger D. Bryant to serve as its Chairman, fully authorized with the executive powers necessary to conduct all aspects of the business. Further, the board initiated action to begin the search for a new CEO.
Mr. Bryant stated, “This is a great loss to FieldPoint, and a greater personal loss to every member of our board. Mr. Reaves was widely respected within the industry, and had many friends who will share our loss. Our heartfelt condolences go out to his family.” Read More