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Stock Market & Financial Investment News

News Breaks
November 27, 2013
08:03 EDTFPPFieldPoint Petroleum enters into exploration project agreement in Texas
FieldPoint Petroleum has entered into a Joint Exploration Agreement with Riley Exploration Group of Blanchard, OK, under which the companies plan to pool their interests within geographical boundaries of the Serbin Field located in Lee and Bastrop Counties, Texas, and to drill up to 12 horizontal wells in 2014. FieldPoint will own an approximate 25% interest, and Riley the remaining approximate 75% interest. The Joint Exploration Agreement calls for the relationship between the companies to be exclusive within the AMI for a period of five years. The total number of horizontal wells to be drilled over the life of the agreement is yet to be determined.
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