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FieldPoint Petroleum: In The News...

Corporate Update
FieldPoint Petroleum Corporation Announces New Director 02/22/02
FieldPoint Petroleum Corporation Reports Third Quarter and Nine-Month Financial Results on Record Levels of Oil and Natural Gas Production 11/20/01
FieldPoint Petroleum Corporation Expands Oklahoma Operations With Ona West Acquisition 10/22/01
FieldPoint Petroleum Corporation Reports Second Quarter and Six-Month Financial Results on Record Levels of Oil and Natural Gas Production 08/15/01
FieldPoint Petroleum Corporation Reports Year-End 2000 Proved Reserves And Production 04/03/01
FieldPoint Petroleum Corporation Reports Fourth Quarter and 2000 Year-End Financial Results 03/07/01
FieldPoint Petroleum Corporation Announces 85% Production Increase 01/22/01
FieldPoint Petroleum Corporation Acquires Interest in Property; Boosts Production and Earnings Prospects 12/19/00
FieldPoint Petroleum Corporation Reports Third Quarter and Nine Month Financial Results 11/14/00
FieldPoint Petroleum Corporation Announces Acquisition of 33% Interest in Hutt (Wilcox Field) 10/02/00
FieldPoint Petroleum Corporation Reports Second Quarter and Six-Month Financial Results 07/25/00
FieldPoint Petroleum Reports Record First Quarter Revenue and a 648% Increase In First Quarter Profits 05/15/00
Standard & Poor's Approves FPPC for Listing In Market Access Program 03/14/00
FieldPoint Petroleum Year-End Reserves and Production Increase 02/15/00
FieldPoint Petroleum Completes $1.1 Million Stock Placement 10/14/99
Announces New Board of Director 09/08/99
July 1, 1999 proved oil and gas reserves increased 489% 08/19/99
Additional Oklahoma Acquisitions 7/08/99
Completes $1.2 Million Acquisition 6/21/99
Additional Purchases from Pontotoc 05/05/99
Pontotoc Production Acquisition 1/8/99
Oil & Gas Investor feature 12/14/98
Fred Bowman Property Acquisition 2/24/98
BPI Acquisition 01/02/98
Other Sources
Friday January 8, 9:15 a.m. Eastern                      Company Press Release

FieldPoint Petroleum Corporation Announces Acquisition of Oil and Gas Assets

AUSTIN, TX Jan. 8/PR Newswire

FieldPoint Petroleum Corporation (OTC Bulletin Board: FPPC- the "Company") announced today that it has entered into an agreement with Pontotoc Production, Inc. (OTC Bulletin Board: PNTU) to purchase up to $1,132,750 in certain working interest in multiple leases including Pontotoc’s recently announced Boyle Acquisition, located primarily in and around Pontotoc County, Oklahoma.

The Company has delivered a cash payment in the amount of $220,000 to Pontotoc Production, Inc. which gives FieldPoint Petroleum title to certain working interest in the Butler and Diamond leases. This amount also includes an earnest money payment which will give the Company until April 1999 to close on the transaction. FieldPoint Petroleum will also be granted the right to participate as an industry partner with Pontotoc in future acquisitions and development programs.

Ray D. Reaves, FieldPoint Petroleum’s President and Chief Executive Officer stated that "At the end of the day, this transaction, as well as the industry partner relationship with Pontotoc, will offer substantial upside to FieldPoint in terms of increasing our reserve base."

FieldPoint Petroleum Corporation is an oil and gas exploration and production company whose principal operations are in Texas and Wyoming.

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on assumptions that the Company believes are reasonable, but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company’s periodic filings with the Securities and Exchange Commission,, including its Annual Report on Form 10-KSB for the year ended December 31, 1997.

For more information, visit the Company’s website at or contact Ray Reaves, President of FieldPoint Petroleum, (512) 250-8692.

SOURCE: FieldPoint Petroleum Corporation