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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
Monday June 21, 12:30 p.m. Eastern                      Company Press Release


AUSTIN, Texas, June 21/PRNewswire

FieldPoint Petroleum Corporation (OTC Bulletin Board: FPPC- the "Company") announced that the Company completed its previously announced acquisition of certain oil and gas properties in the state of Oklahoma from Pontotoc Production, Inc. (OTC Bulletin Board: PNTU). The Company stated that according to an independent engineering firm proved reserves associated with the transaction were 433,986 barrels of oil and 1,935,229 thousand cubic feet of natural gas, or 756,524 barrels of oil equivalent. As of April 1, 1999, an independent engineering firm assigned a present value discounted at 10% (PV-10) of $3,757,507 to FieldPoint's interest in these properties.

Ray D. Reaves, FieldPoint Petroleum's President and CEO commented, "The purchase of these producing and non-producing oil and gas assets from Pontotoc will give us a concentrated position in the Mid-Continent. As a result of this transaction, FieldPoint’s proved reserves have nearly doubled. Moreover, this transaction will materially augment the Company’s natural gas production, increasing daily gas sales from 250,000 cubic feet per day at year end 1998 to current estimated rates of 500,000 cubic feet of gas per day. The Company anticipates that drilling and recompletion activities on these properties could potentially increase its gas production rates to in excess of 1,000,000 cubic feet per day by year end 1999."

The Company also stated that proceeds from its ongoing equity offering along with $500,000 in bank financing was used to finance the transaction.

FieldPoint Petroleum Corporation is engaged in oil and gas exploration, production and acquisition, primarily in Oklahoma, 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, 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