AUSTIN, Texas, Aug. 14, 2015 /PRNewswire/ -- FieldPoint Petroleum Corporation (NYSE/MKT: FPP) today announced financial results for the second quarter ended June 30, 2015, and also provided an update on the Company's warrant conversions.
Phillip Roberson, President and CFO, said, "I'm pleased to announce that over 734,000 warrants were exercised during the 33 day period of reduction in exercise price on our March 2012 outstanding warrants ended last Friday, August 7. We want to thank our shareholders for this show of support during this turbulent down market. Our balance sheet has proved fairly stable and it will be further improved from the recent exercise of warrants."
Q2 2015 Financial Highlights Compared to Q2 2014
- Revenues decreased to $1,178,677 from $2,398,309;
- Net Income (Loss) decreased to a Loss of ($261,172) from Income of $227,007; and
- Earnings (Loss) per share decreased to a Loss of ($.03) on both a basic and fully diluted basis, from an Income of $0.03 basic and $.02 fully diluted.
Mr. Roberson concluded with, "Like the rest of the oil and gas industry, we hope to see an improvement in prices, but we have demonstrated our ability to weather a pretty good storm. Again we want to thank our shareholders for their continued support, as it has just been demonstrated with the exercise of these warrants."
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