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.