AUSTIN, Texas, Sept. 9, 2013 /PRNewswire/ --FieldPoint Petroleum Corporation (NYSE MKT:FPP) today provided an update on the production from its most recently completed well in Lea County, New Mexico.
FieldPoint's Executive Chairman, Roger Bryant, stated, "Our East Lusk Federal 15 #3, in Lea County, New Mexico, continues to perform very well. For the dates August 21, 2013, through September 7, 2013, the well averaged producing oil at 601 Bopd and natural gas at 604 Mcfpd. That puts this well on a par with, if not better than, our first two wells on this property at this point in production. As previously stated, the decision to drill a fourth well on this property depends in great part upon the success of this well. That decision will be made soon, and the performance of well #3 is very encouraging at this point. As we have done in the past, we will provide periodic updates on this well and our drilling program in this field."
As a reminder, FieldPoint owns a 43.75% working interest in East Lusk Federal #1 and #2, and will own the same percentage of East Lusk Federal #3 in section 15 of this field.
About FieldPoint Petroleum Corporation
FieldPoint Petroleum Corporation is engaged in oil and gas exploration, production and acquisition, primarily in New Mexico, Oklahoma, Texas and Wyoming. For more information, please visit www.fppcorp.com.
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 www.sec.gov).
SOURCE FieldPoint Petroleum Corporation