FieldPoint Petroleum REPORTS RESULTS FOR THIRD quarter 2016
Thursday, November 17th, 2016 and is filed under Uncategorized
AUSTIN, TX – November 14, 2016– FieldPoint Petroleum Corporation (NYSE/MKT:FPP) today announced financial results for the third quarter, ended September 30, 2016.
Phillip Roberson, President and CFO, said, “Although our financial performance continues to be impeded by low commodity pricing, the past few months have been significant for the Company. As previously mentioned, the NYSE MKT accepted our plan to regain compliance with its listing standards, we completed a forbearance agreement with CitiBank, and we completed the first tranche of a private placement to secure additional working capital. We continue to pursue all forms of expansion opportunities that will strengthen our financial position, and at this point we are becoming very optimistic about our future. I would also like to thank our shareholders for their vote of confidence shown by approving all proposals set forth at our recent annual meeting.”