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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fieldpoint Petroleum Corp (CE) | USOTC:FPPP | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
Colorado
|
|
84-0811034
|
(State or Other Jurisdiction of
Incorporation
or Organization)
|
|
(I.R.S. Employer
Identification
No.)
|
Large accelerated filer
|
☐
|
Accelerated filer
|
☐
|
Non-accelerated
filer
|
☐
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
☐
|
|
|
Emerging
growth company
|
☒
|
|
Three Months
Ended
|
|
|
March
31,
|
|
|
2018
|
2017
|
REVENUE:
|
|
|
Oil and natural gas
sales
|
$
465,847
|
$
814,728
|
Well operational
and pumping fees
|
1,682
|
1,262
|
Disposal
fees
|
25,433
|
22,436
|
Total
revenue
|
492,962
|
838,426
|
|
|
|
COSTS
AND EXPENSES:
|
|
|
Production
expense
|
231,481
|
711,875
|
Depletion and
depreciation
|
100,754
|
156,554
|
Accretion of
discount on asset retirement obligations
|
27,000
|
26,000
|
General and
administrative
|
309,627
|
284,008
|
Total costs and
expenses
|
668,862
|
1,178,437
|
|
|
|
OPERATING
LOSS
|
(175,900
)
|
(340,011
)
|
|
|
|
OTHER
INCOME (EXPENSE):
|
|
|
Interest
income
|
15
|
14
|
Interest
expense
|
(34,888
)
|
(69,054
)
|
Total other income
(expense)
|
(34,873
)
|
(69,040
)
|
|
|
|
NET
LOSS
|
$
(210,773
)
|
$
(409,051
)
|
|
|
|
LOSS
PER SHARE:
|
|
|
BASIC
|
$
(0.02
)
|
$
(0.04
)
|
DILUTED
|
$
(0.02
)
|
$
(0.04
)
|
|
|
|
WEIGHTED
AVERAGE SHARES OUTSTANDING:
|
|
|
BASIC
|
10,669,229
|
10,617,630
|
DILUTED
|
10,669,229
|
10,617,630
|
|
For the Three
Months Ended
|
|
|
March
31,
|
|
|
2018
|
2017
|
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|
|
Net
loss
|
$
(210,773
)
|
$
(409,051
)
|
Adjustments to
reconcile net loss to net cash used in operating
activities:
|
|
|
Depletion and
depreciation
|
100,754
|
156,554
|
Accretion of
discount on asset retirement obligations
|
27,000
|
26,000
|
Changes in current
assets and liabilities:
|
|
|
Accounts
receivable
|
8,996
|
(45,350
)
|
Prepaid income
taxes
|
(3,846
)
|
(2,709
)
|
Prepaid expenses
and other current assets
|
6,635
|
(20,854
)
|
Accounts payable
and accrued expenses
|
3,223
|
222,299
|
Oil and gas
revenues payable
|
3,122
|
5,300
|
Net cash used in
operating activities
|
(64,889
)
|
(67,811
)
|
|
|
|
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
|
|
Additions to oil
and natural gas properties and other equipment
|
(17,094
)
|
(262,148
)
|
Net cash used in
investing activities
|
(17,094
)
|
(262,148
)
|
|
|
|
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
|
|
Net proceeds from
issuance of common stock
|
-
|
187,220
|
Net cash provided
by financing activities
|
-
|
187,220
|
|
|
|
NET
CHANGE IN CASH AND CASH EQUIVALENTS
|
(81,983
)
|
(142,739
)
|
|
|
|
CASH AND CASH EQUIVALENTS,
beginning of
the period
|
408,656
|
880,067
|
|
|
|
CASH AND CASH EQUIVALENTS,
end of the
period
|
$
326,673
|
$
737,328
|
|
|
|
SUPPLEMENTAL
INFORMATION:
|
|
|
Cash paid during
the period for interest
|
$
-
|
$
67,574
|
Cash paid during
the period for income taxes
|
$
3,845
|
$
2,709
|
Change in accrued
capital expenditures
|
$
17,094
|
$
115,800
|
|
Three Months
Ended
|
|
|
March
31,
|
|
|
2018
|
2017
|
Revenues
|
|
|
Oil
|
$
425,008
|
$
720,673
|
Natural Gas and
NGL
|
40,839
|
94,055
|
Total oil,
natural gas and NGL
|
$
465,847
|
$
814,728
|
|
Warrants
|
Weighted
Average Exercise Price
|
Weighted
Average Expected Life (Years)
|
|
|
|
|
Outstanding,
December 31, 2017
|
7,177,010
|
$
4.00
|
0.25
|
Issued
|
-
|
-
|
|
Exercised
|
-
|
-
|
|
Exercised during
temporary modification period
|
-
|
-
|
|
Expired
|
(7,177,010
)
|
-
|
|
Outstanding, March
31, 2018
|
-
|
$
-
|
-
|
|
Quarter Ended
March 31,
|
|
|
2018
|
2017
|
Revenue:
|
|
|
Oil
sales
|
$
425,008
|
$
720,673
|
Natural gas
sales
|
40,839
|
94,055
|
Total oil and
natural gas sales
|
$
465,847
|
$
814,728
|
|
|
|
Sales
volumes:
|
|
|
Oil
(Bbls)
|
7,614
|
14,938
|
Natural gas
(Mcf)
|
13,867
|
30,001
|
Total
(BOE)
|
9,925
|
19,938
|
|
|
|
Average sales
prices:
|
|
|
Oil
($/Bbl)
|
$
55.82
|
$
48.24
|
Natural gas
($/Mcf)
|
2.95
|
3.14
|
Total
($/BOE)
|
$
46.94
|
$
40.86
|
|
|
|
Costs and expenses
($/BOE)
|
|
|
Production expense
(lifting costs)
|
$
23.32
|
$
35.71
|
Depletion and
depreciation
|
10.15
|
7.85
|
Accretion of
discount on asset retirement obligations
|
2.72
|
1.30
|
General and
administrative
|
31.20
|
14.24
|
Total
|
$
67.39
|
$
59.10
|
Exhibits
|
|
|
|
Certifications
of Chief Executive Officer
|
|
Certifications
of Chief Financial Officer
|
|
Certification
of Chief Executive Officer Pursuant to U.S.C. Section
1350
|
|
Certification
of Chief Financial Officer Pursuant to U.S.C. Section
1350
|
|
101.INS
|
XBRL
Instance Document
|
101.SCH
|
XBRL
Schema Document
|
101.CAL
|
XBRL
Calculation Linkbase Document
|
101.LAB
|
XBRL
Label Linkbase Document
|
101.PRE
|
XBRL
Presentation Linkbase Document
|
101.DEF
|
XBRL
Definition Linkbase Document
|
Date: May
15, 2018
|
By:
/s/ Roger D.
Bryant
Roger
D. Bryant, Principal Executive Officer
|
Date: May
15, 2018
|
By:
/s/ Phillip H.
Roberson
Phillip
H. Roberson, Principal Financial Officer
|
1 Year Fieldpoint Petroleum (CE) Chart |
1 Month Fieldpoint Petroleum (CE) Chart |
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