FieldPoint Logo

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
Tuesday, February 24, 9:00 a.m. EST

FieldPoint Petroleum Corporation Announces Completion of Oil and Gas Property Acquisition

Austin,TX  Feb. 24/PRNewswire

FieldPoint Petroleum Corporation (OTC Bulletin Board: FPPC) announced today that it has completed the acquisition of a certain oil and gas producing property in the state of Texas. The property was acquired from Fred Bowman, Inc. The Company paid $190,000 cash consideration for the lease rights.

FieldPoint, through a wholly owned subsidiary, acquired a 97.9% working interest in the 320 acre Shade lease which currently has 3 producing oil and gas wells. The Company, through its subsidiary, will take over operations effective March 1, 1998. Thereafter, FieldPoint will evaluate whether additional reserves can be developed by using horizontal well technology.

Ray D. Reaves, President and Chief Executive Officer of FieldPoint Petroleum stated, " This acquisition is a part of the Company’s continuing program of growth through exploration and development as well as acquisitions of producing and non-producing oil and gas properties."

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

Additional public information regarding FieldPoint Petroleum Corporation is available at the Securities and Exchange Commissions World Wide Wed site at

SOURCE: FieldPoint Petroleum Corporation
CONTACT: Barry Gross, Gross Capital Associates (512) 949-4999