Wednesday, November 27th, 2013 and is filed under Uncategorized
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced that it has entered into a Joint Exploration Agreement with Riley Exploration Group of Blanchard, OK. Under the terms of the agreement, the companies plan to pool their interests within geographical boundaries of the Serbin Field located in Lee and Bastrop Counties, Texas (the Area of Mutual Interest, or AMI), and to drill up to 12 horizontal wells in 2014. The companies will share expenses and revenues on a pro rata basis determined by the contributed lease acreage owned by each company. This will result in FieldPoint owning an approximate 25% interest, and Riley owning the remaining approximate 75% interest.
Roger Bryant, Executive Chairman for FieldPoint, stated “We are obviously very excited to be able to bring this news to our shareholders. The Serbin Field is where our founder, Ray Reaves, acquired his first leases that ultimately led to the forming of this company. It is only fitting that this be the site of FieldPoint’s largest project to date. We are very anxious to get underway in January.” Read More
Friday, November 15th, 2013 and is filed under Financial Updates
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) announced today its third quarter financial results for the three and nine months ended September 30, 2013.
FieldPoint Executive Chairman, Roger Bryant, stated, “Revenue and net income for the quarter ended September 30, 2013 were both up from the same quarter in 2012. A significant difference in nine month earnings for 2013 as compared to 2012 is due to commodity derivative gains of $228,012 occurring in 2012 that did not occur this year. We believe that we will meet our objectives for the year, and remain committed to our shareholders to pursue all avenues that could potentially increase shareholder value. We hope that retaining Stephens Inc as a financial advisor, as we recently announced, will help us accelerate our growth plans.” Read More
Wednesday, November 13th, 2013 and is filed under Management Updates
FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced the hiring of Stephens Inc. as a financial advisor. Stephens will provide general and strategic advice to FieldPoint and will help the Company evaluate its strategic alternatives for enhancing shareholder value. Roger Bryant, Executive Chairman for FieldPoint, stated “Stephens is a well established and highly respected 80 year old firm, and I believe they will contribute significantly to our efforts to grow FieldPoint and build greater shareholder value. We are very proud to be able to announce this association.” Read More