FieldPoint Petroleum Reports Results For First Quarter 2018

AUSTIN, Texas, May 15, 2018 /PRNewswire/ -- FieldPoint Petroleum Corporation (OTCBB: FPPP) today announced financial results for its first fiscal quarter ended March 31, 2018. 

Phillip Roberson, President and CFO, said, "After this long period of depressed commodity pricing, we are finally seeing some relief. Pricing toward the end of our first quarter reached a manageable level, and if this recovery is sustainable, we expect to be able to further reduce our debt and return to our plan of growth for the company in the near term. Again, we want to express appreciation to all our shareholders who have supported us during this difficult time."    

2018 First Quarter Financial Highlights Compared to the Same Period in 2017

• Revenues decreased to $492,962 from $838,426;
• Net Loss decreased to ($210,773) from ($409,051) and
• Net Loss per share decreased, basic to ($0.02) from ($0.04) and fully diluted to ($0.02) from ($0.04).

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

This press release may contain projection 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. 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 natural gas prices and unexpected decreases in oil and natural gas production is included in the company's periodic reports filed with the Securities and Exchange Commission (at www.sec.gov)

SOURCE FieldPoint Petroleum Corporation