This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

FieldPoint Petroleum Corporation Reports First Quarter Results

AUSTIN, Texas, May 15, 2013 /PRNewswire/ -- FieldPoint Petroleum Corporation (NYSE AMEX: FPP) announced today its first quarter financial results for the three months ended March 31, 2013.

Ray Reaves, President and CEO of FieldPoint, stated, "We consider this to be a very good quarter even though revenues were lower than for the same period in 2012.  This is due primarily to a combination of lower oil prices in Q1 2013, and the boost in production that we experienced from our newly completed well in the East Lusk Field in 2012.  Wells of this type are known to come on line with a flush production (in our case, over 800 bpd) and then decline until they stabilize at a much lower rate.  We did not have the drilling or acquisition activity to lift our first quarter 2013 production to last year's level, although we are hopeful that our current activities will produce results similar to our 2012 experience before year end."

Financial Highlights for the Three Months Ended March 31, 2013 compared to the Three Months Ended March 31, 2012:
  • Total Revenues decreased 24% to $2,488,148 from $3,272,570;
  • Net Income decreased to $543,509 from $794,504; and
  • Earnings per share, both basic and fully diluted decreased to $0.07 from $0.10.

Mr. Reaves continued, "Our plan is to increase our growth rate over the next year.  To accomplish this, it is essential that we continue our programs to build our production base.  This includes pursuing both acquisition and development opportunities.  As stated in the past, we are committed to maintain our focus on building shareholder value."

FieldPoint Petroleum Corporation is engaged in oil and gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming.  For more information, please visit

This press release may contain projections and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Any such projections or statement reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and gas prices and unexpected decreases in oil and gas production is included in the company's periodic reports filed with the Securities and Exchange Commission (at

SOURCE FieldPoint Petroleum Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs