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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 ofIncorporation or Organization)
|
|
(I.R.S.
EmployerIdentification 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,
|
|
|
2019
|
2018
|
REVENUE:
|
|
|
Oil and natural gas
sales
|
$
416,452
|
$
465,847
|
Well operational
and pumping fees
|
1,262
|
1,682
|
Disposal
fees
|
49,439
|
25,433
|
Total
revenue
|
467,153
|
492,962
|
|
|
|
COSTS
AND EXPENSES:
|
|
|
Production
expense
|
296,416
|
231,481
|
Depletion and
depreciation
|
90,138
|
100,754
|
Accretion of
discount on asset retirement obligations
|
29,000
|
27,000
|
General and
administrative
|
280,394
|
309,627
|
Total costs and
expenses
|
695,948
|
668,862
|
|
|
|
OPERATING
LOSS
|
(228,795
)
|
(175,900
)
|
|
|
|
OTHER
INCOME (EXPENSE):
|
|
|
Interest
income
|
100
|
15
|
Interest
expense
|
(52,214
)
|
(34,888
)
|
Total other
expense
|
(52,114
)
|
(34,873
)
|
|
|
|
LOSS
BEFORE INCOME TAXES
|
(280,909
)
|
(210,773
)
|
|
|
|
INCOME
TAX EXPENSE – CURRENT
|
(40
)
|
-
|
TOTAL
INCOME TAX PROVISION
|
(40
)
|
-
|
|
|
|
NET
LOSS
|
$
(280,949
)
|
$
(210,773
)
|
|
|
|
LOSS
PER SHARE:
|
|
|
BASIC
|
$
(0.03
)
|
$
(0.02
)
|
DILUTED
|
$
(0.03
)
|
$
(0.02
)
|
|
|
|
WEIGHTED
AVERAGE SHARES OUTSTANDING:
|
|
|
BASIC
|
10,669,229
|
10,669,229
|
DILUTED
|
10,669,229
|
10,669,229
|
|
Common
Stock
|
Additional
Paid-in
|
Retained
Earnings
(Accumulated
|
Treasury
Stock
|
|
||
|
Shares
|
Amount
|
Capital
|
Deficit)
|
Shares
|
Amount
|
Total
|
|
|
|
|
|
|
|
|
Balance at December
31, 2017
|
11,596,229
|
$
115,962
|
$
13,715,668
|
$
(10,062,381
)
|
927,000
|
$
(1,966,892
)
|
$
1,802,357
|
|
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(210,773
)
|
-
|
-
|
(210,773
)
|
|
|
|
|
|
|
|
|
Balance at March
31, 2018
|
11,596,229
|
$
115,962
|
$
13,715,668
|
$
(10,273,154
)
|
927,000
|
$
(1,966,892
)
|
$
1,591,584
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December
31, 2018
|
11,596,229
|
$
115,962
|
$
13,715,668
|
$
(13,314,639
)
|
927,000
|
$
(1,966,892
)
|
$
(1,449,901
)
|
|
|
|
|
|
|
|
|
Net
loss
|
-
|
-
|
-
|
(280,949
)
|
-
|
-
|
(280,949
)
|
|
|
|
|
|
|
|
|
Balance at March
31, 2019
|
11,596,229
|
$
115,962
|
$
13,715,668
|
$
(13,595,588
)
|
927,000
|
$
(1,966,892
)
|
$
(1,730,850
)
|
|
For the Three
Months Ended
|
|
|
March
31,
|
|
|
2019
|
2018
|
|
|
|
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
|
|
Net
loss
|
$
(280,949
)
|
$
(210,773
)
|
Adjustments to
reconcile net loss to net cash used in operating
activities:
|
|
|
Depletion and
depreciation
|
90,138
|
100,754
|
Accretion of
discount on asset retirement obligations
|
29,000
|
27,000
|
Changes in current
assets and liabilities:
|
|
|
Accounts
receivable
|
(5,828
)
|
8,996
|
Income tax
receivable
|
(5,741
)
|
(3,846
)
|
Prepaid expenses
and other current assets
|
10,427
|
6,635
|
Accounts payable
and accrued expenses
|
92,302
|
3,223
|
Oil and gas
revenues payable
|
6,321
|
3,122
|
Net cash used in
operating activities
|
(64,330
)
|
(64,889
)
|
|
|
|
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
|
|
Additions to oil
and natural gas properties and other equipment
|
-
|
(17,094
)
|
Net cash used in
investing activities
|
-
|
(17,094
)
|
|
|
|
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
|
|
Payments on line of
credit - current
|
(6,936
)
|
-
|
Net cash used in
financing activities
|
(6,936
)
|
-
|
|
|
|
NET
CHANGE IN CASH AND CASH EQUIVALENTS
|
(71,266
)
|
(81,983
)
|
|
|
|
CASH AND CASH EQUIVALENTS,
beginning of
the period
|
284,945
|
408,656
|
|
|
|
CASH AND CASH EQUIVALENTS,
end of the
period
|
$
213,679
|
$
326,673
|
|
|
|
SUPPLEMENTAL
INFORMATION:
|
|
|
Cash paid during
the period for interest
|
$
102,521
|
$
-
|
Cash paid during
the period for income taxes
|
$
5,741
|
$
3,845
|
Change in accrued
capital expenditures
|
$
(2,003
)
|
$
17,094
|
|
For the Three
Months Ended
|
|
|
March 31,
|
|
|
2019
|
2018
|
Revenues
|
|
|
Oil
|
$
366,055
|
$
425,008
|
Natural Gas and
NGL
|
50,397
|
40,839
|
Total oil, natural
gas and NGL
|
$
416,452
|
$
465,847
|
|
Quarter Ended
March 31,
|
|
|
2019
|
2018
|
Revenue:
|
|
|
Oil
sales
|
$
366,055
|
$
425,008
|
Natural gas
sales
|
50,397
|
40,839
|
Total oil and
natural gas sales
|
$
416,452
|
$
465,847
|
|
|
|
Sales
volumes:
|
|
|
Oil
(Bbls)
|
8,143
|
7,614
|
Natural gas
(Mcf)
|
21,328
|
13,867
|
Total
(BOE)
|
11,698
|
9,925
|
|
|
|
Average sales
prices:
|
|
|
Oil
($/Bbl)
|
$
44.95
|
$
55.82
|
Natural gas
($/Mcf)
|
2.36
|
2.95
|
Total
($/BOE)
|
$
35.60
|
$
46.94
|
|
|
|
Costs and expenses
($/BOE)
|
|
|
Production expense
(lifting costs)
|
$
25.34
|
$
23.32
|
Depletion and
depreciation
|
7.70
|
10.15
|
Accretion of
discount on asset retirement obligations
|
2.48
|
2.72
|
General and
administrative
|
23.97
|
31.20
|
Total
|
$
59.49
|
$
67.39
|
Exhibit No.
|
|
Description
|
|
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, 2019 |
By:
|
/s/
Roger
D. Bryant
|
|
|
|
Roger D. Bryant, Principal Executive Officer |
|
|
|
|
|
|
|
|
|
|
|
|
|
Date: May 15, 2019 |
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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