SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 15, 2019
FIELDPOINT PETROLEUM CORPORATION
(Exact name of registrant as specified in its charter)
Colorado | 001-32624 | 84-0811034 |
(State or other jurisdiction of incorporation or organization) | (Commission file number) | (IRS Employer Identification No.) |
609 Castle Ridge Road # 335, Austin TX 78746
(Address of principal executive offices)
Registrant's telephone number, including area code: (512) 250-8692
_________________________________________
(Former name or former address, if changed since last report)
___ | Written communications pursuant to Rule 425 under the Securities Act |
___ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
___ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
___ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company[X]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
ITEM 7.01 REGULATION FD DISCLOSURE
On April 15, 2019, FieldPoint Petroleum Corporation (NYSE/MKT: FPP) (the “Company”) issued a press release announcing financial results for the fiscal year ended December 31, 2018.
The information in this Current Report on Form 8-K furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information pursuant to Item 7.01, The Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
ITEM 9.01: FINANCIAL STATEMENTS AND EXHIBITS
|
|
|
|
Item |
| Title | |
|
|
| |
99.1 |
|
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FIELDPOINT PETROLEUM CORPORATION |
Date: April 15, 2019 |
By:/s/ Roger Bryant Roger Bryant, Chairman |
| |
|
|
FIELDPOINT PETROLEUM REPORTS
RESULTS FOR FISCAL YEAR 2018
AUSTIN, TX – April 15, 2019 – FieldPoint Petroleum Corporation (OTC: FPPP) today announced financial results for the fiscal year ended December 31, 2018.
Phillip Roberson, President and CFO, said, “The decrease in year over year revenue was due mainly to the sale of the Apache Bromide field in late 2017. The increase in loss year over year was attributable to an asset impairment of approximately $2.6 million in 2018 and $0 in 2017, and a gain on the sale of assets of just $345,000 in 2018 and $3.8 million in 2017.”
2018 Financial Highlights Compared to 2017
Revenues decreased to $2,169,859 from $3,036,132;
Net Income (Loss) decreased to $(3,252,258) from $2,666,253 and
Income (Loss) per share decreased, basic to $(0.30) from $0.25 and fully diluted to
$(0.30) from $0.25.
Mr. Roberson concluded with, “We are continuing to analyze our portfolio for non-producing assets and leaseholds that we can monetize to pay down the remaining portion of our outstanding debt with Citibank. Additionally, we are focusing on reducing SG&A expenses wherever possible, and evaluating potential partnering opportunities that will help us grow past these hurdles created by depressed commodity pricing.”
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)
Contact: Phillip Roberson, President/CFO (512) 579-3560 or proberson@fppcorp.com
Or Roger Bryant, Executive Chairman (214) 215-9130
Corporate Headquarters: 609 Castle Ridge Rd, Ste 335, Austin, TX 78746