AUSTIN, TX –– February9, 2011 (Investorideas.com Energy Newswire) – Investorideas.com and
its energy portals profile the company info and recent news for energy stock;
FieldPoint Petroleum Corporation (NYSE Amex: FPP) .
About FieldPoint Petroleum Corp. www.fppcorp.com
FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and
acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming.
Recent News :
FieldPoint Petroleum Reports Increase in Borrowing Base
FieldPoint Petroleum Corporation (NYSE Amex: FPP) announced today that the borrowing base
available to the company under its bank line of credit has been increased to $10.5 million. This
increase was approved following a routine mid-year engineering review of the line by Citibank.
Ray Reaves, President and CEO of FieldPoint stated, "We are very pleased that Citibank has
recognized the size and quality of our growing asset base. In this weak economy, we consider
this to be a strong endorsement from our banking partner."
To read full news:
http://finance.yahoo.com/news/FieldPoint-Petroleum-Reports-cnw-674660569.html?x=0&.v=2
FieldPoint Petroleum Corporation Announces Update on Stock Buy-Back
FieldPoint Petroleum Corporation (NYSE Amex: FPP) announced today that it will continue to
buy back its shares in accordance with a plan approved by its Board of Directors earlier this year.
Under this plan, management is authorized to make stock purchases in open market or privately-
negotiated transactions, subject to prevailing market conditions. All purchases are funded from
available cash.
Ray Reaves, President and CEO stated, “As of today, FieldPoint has repurchased a total
of 810,000 shares held in treasury at an aggregate cost of approximately $1,509,541, or an
average cost of approximately $1.86 per share. Management is currently authorized to commit
to an additional $140,000 in purchases without further board approval. We will look to market
conditions beyond that point to determine whether or not to request a continuation from the
Board.”
To read the full news:
http://finance.yahoo.com/news/FieldPoint-Petroleum-prnews-434392054.html?x=0&.v=1
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)
Contact FieldPoint Petroleum Corporation (NYSE Amex: FPP)
Ray D. Reaves, President
(512)250-8692
fppc@ix.netcom.com
Visit the Company’s website at
www.fppcorp.com
Published at Investor Ideas Oil and Gas news feeds
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