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.