AUSTIN, Texas, May 15, 2019 /PRNewswire/ -- FieldPoint Petroleum Corporation (OTC: FPPP) today announced financial results for the fiscal quarter ended March 31, 2019.
First Quarter 2019 Financial Highlights Compared to 2018
- Revenues decreased to $467,153 from $492,962;
- Net Loss increased to $(280,909) from $(210,773) and
- Loss per share increased, basic to $(0.03) from $(0.02) and fully diluted to $(0.03) from $(0.02)
Phillip Roberson, President and CFO, stated, "We have extended our Forbearance Agreement with Citibank until June 30, 2019. We are continuing to seek alternative financing to address the remaining balance of our outstanding debt. We are hopeful that this will be completed before the end of this forbearance extension. "
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 projections and other forward-looking statements. 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