Fieldpoint Petroleum FPPC Message Board

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Gold/Mining/Energy : Fieldpoint Petroleum FPPC

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To: Ernest K Brandt who wrote (7)	6/17/2004 3:49:33 PM
From: rrufff	of 10

FPPC - 1.11. Just bought some more. A block went by at 1.10. With oil price increasing, and OPEC in dissaray, I think this one is a sure bet. after I listened to the CEO cast and here are some notes in case anyone is interested. CEO Cast interview Low cost producer 60% oil 40% natural gas – grow by acquisition and at the drill bit so they are low cost producer and keep control. Approx 1 billion barrels Long life reserves Now have stiff competition in the acquisition market, acquisitions are harder than they have been. But this helps on the production side. NM property – adds production March 2004. Production was 30 bls now 50 bls thanks to that acquisition. Will bid on more and also grow through drilling. Industry partners to develop our own leases, leases we already have but can expand on our own property. 1Q 570,000 revs v 628,000 year ago earnings doubled to 100,000. Downtime in Oklahoma accounted for reduction in revenues, but we doubled net earnings because of efficiency and we are low cost. 2Q will be very good in both Rev < and profitability. Low cost producer so any additional revenue goes directly to bottom line. Another acquisition this year will be accretive this year and next. Long life reserves are by nature low cost and we operate our selves. We operate and control. This keep costs down. Sweet oil – is their product. Now sour oil. Commands a premium. More opportunities to acquire and to drill. Stays away from sour oil which is harder to refine. Sells to Conoco, Phillips and the market is very high. Demand is much higher than supply and OPEC can’t increase as rapidly as they want us to believe. They focus on high grade, high quality. Their sale price is $1.50 - $2.00 less than WTI West Texas Intermediary spot price. Similar in Oklahoma, etc. Greatest challenge is replacement of reserves. Growth must be at low cost to assure profitability. Years of slow growth in the past left us with opportunity to take advantage of market opportunities. Like a baseball game. “We are in the 1st inning of a 9 inning game.” “Best days are ahead of us” Exciting results for 2Q is coming. Continued growth. High quality partners. Larger partners to develop some or our NM leasehold.

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