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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
Wednesday May 5, 9:53 a.m. Eastern                      Company Press Release


AUSTIN, Texas, May 5 /PRNewswire

FieldPoint Petroleum Corporation (OTC Bulletin Board: FPPC- the "Company") announced today that it has delivered $484,600 to Pontotoc Production (OTC Bulletin Board: PNTU) to purchase additional interest in the Butler and Diamond leases, this brings its total working interest to 25% in each lease as well as purchasing 25% working interest in the Nan and McDonald leases and FieldPoint purchased working interest in Pontotoc’s Boyle properties. This transaction is in line with the January 8, 1999 Purchase Sale Agreement between the Company and Pontotoc Production, Inc.

The agreement calls for the Company to deliver another $428,450 to purchase 25% working interest in 5 additional leases, including the Mt. Gilcrease Unit. This will bring the total purchase price to $1,133,050 including the $220,000 already paid.

Ray D. Reaves, FieldPoint Petroleum’s President and CEO commented, "The purchase of these producing oil and gas properties and related assets from Pontotoc will give us a very strong mid-continent production base. We believe that there exists the potential to develop additional reserves and increase production on these properties. This acquisition will add 1.94 billion cubic feet of gas and 443,986 barrels of oil to the Company's reserves."

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, 1998.

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

SOURCE: FieldPoint Petroleum Corporation